Charity registration number 1140489 {England and Wales) Company reglstratlon number 07465741 THE HENRY JACKSON SOCIETY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE HENRY JACKSON SOCIETY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr S L Caplan Mr G Defries DrA L Mendoza Sir B K Lewis (Appointed 19 December 20241 (Appointed 14 July 20251 (Appointed 14 July 20251 (Appointed 14 July 20251 (Appointed 14 July 20251 (Appointed 14 July 20251 Ms JA Halpem Prin MBE DrA M Jenkins Mr D M Tarshish Mr J M Angus MsSCGall Charlty number (England and Wale$} 1140489 Company number 07465741 Registered office 26th Floor Millbank Tower 21-24 Millbank London SW1P 4QP Audllor Haines Watts Swindon Limited Old Station House Stslion Approach Swindon Willshire SN1 3DU
THE HENRY JACKSON SOCIETY CONTENTS Page Trustees, report Stslemenl of Iruslees. responsibilities Independent auditorfs report 9-11 statement of financial activities Balance sheet Stslemenl of cash flows 14 Notes lo the financial statements 15-24
THE HENRY JACKSON SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial slalemenls have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document. the Companies Act 2006. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP 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 IFRS 1021 Objectives and activities Organisation Objectives The Charity's objectives are lo advance the education of the public in national and intemalional political, social and economic policy, induding the promotion of research in any of those areas and the publication of the useful results of such research. Activities of the Charity The charity works to bring together members of the public and academic, business, media and political leaders from all demographics through a series of themed lectures, meetings and events so that they can better understand the nature of contemporary national and Intemalional affairs. Extensive research covering a variety of national and international policy topics is also published for the same purpose. Legal purposes All of the charity's activities work towards achieving our legal purposes - educating the public on national and international political, social and e¢onomi¢ policy. Our 2023 a¢hievements in the field of research, our exiensive events programme, our national and international media coverage and educats'on of the public, have ensured that these purposes were met. Public benefit The Trustees have complied with their duly in section 17 of the Charities Act 2011 to have due regard to guidance published by the Charity ComTlliSSiOn.
THE HENRY JACKSON SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Activities Main areas of activity HJS'S work is focused into two main streams". "Securing our Societies" and Advancing the Free World" Securing our Societies" focuses on Ihieals to free societies wf(hin the West, while 'Advancing the Free World" examines how the enemies of the free world are operating inlemalionally. Building on from 2023's successful activity, the charity Continued with a subjecl-based approach lo policy and research projects which are calegorised in different cenlres that work towards achieving its strategic objectives. In 2024, these were.. Centre for the Future of Warfare: The Centre examines how emerging threats and technologies are transforming the nature of conflict in the twenly-firsl century. Ils research spans autonomDUS systems, cyber operations, space security, and hybrid warfare, delivering forward-looking analysis and practical strategies lo help the UK and ils allies adapt, deter, and prevail in an increasingly conlesled security environment. Centre for Reslllent Soclety: Estsblished in 2018 as the Centre on Social and Political Risk, it is a citizen- focused international research hub dedicated lo identifying. diagnosing, and proposing solutions lo threats facing governance in liberal Western democracies. Now reoriented as the Centre for Resilient Society, il focuses on strengthening societsl resilience against political, economic, technological, and security challenges. Centre for Indo-Pacific Studies: established in 2017, the centre provides an in4eplh understanding of the structural shifts, regional complexities and historic tensions that exist alongside the tremendous economic and social growth that Iradilionally characlerise the 'rise of Asia" It has achieved global prominence because of ils work on understanding the nature of the threat posed inlernalionally by the rise of a China governed by a Communist dictslorship. Centre for Transatlantlc Strategy: Founded in 2017 as the Centre for Global Britsin and subsequently rebranded, the programme advances an open, confident and outward-looking British geoslralegic policy for the bNenly-first century. It draws on the UK'S distinctive strengths as an advocate of liberalism and national democracy, and as a custodian of both the European and wider international Orders. The Centre's work is respected across party lines and wdely cited in academia. Centre for Russia and Eurasia Studies- Established in 2010, the Centre conducts In-depth, analytically focused research on the domestic and foreign policie5 of Russia and the wider posl-soviel space. Ils remit ha5 broadened since 2014 in line with the region's rising strategic importance, and it is currently focused on the ongoing confli¢l and its regional spillovers. Centre for the New Mlddle East: Established in the aftemiath of the 2010 'Arab Spring,. the Centre is designed to equip opinion-leaders and policymakers fresh thinking, rigorous analysis, and practical policy solutions to advance geopolitical progress in one of the worfd's most complex and fluid regions. It closely monitors Political, ideological, military, and security developments across the Middle East, providing infomied, timely assessments of their wide-ranging implications to key decision-makers. In addition lo research projects, the charity also has two divisions that support such activity.. HJS runs a diverse programme of events showcasing its research, with high-profile speakers from across sectors and perspectives, creating a trusted platform for open debate. As Westminster's leading policy events provider, a reputstion earned over many years, HJS continues to host a substantial number of in- person, online and hybrid events. These bring together policymakers, human rights advocates and survivors of oppression, generating significant global impact and consistently positive feedback. Communications". Through strong media relations, an engaging online presen and active social media channels, HJS promotes ils research and events lo national and intemalional audiences, helping to infomi and educate the public. The charity consistently surpasses It5 own targets for media coverage and expert commentary, demonstrating the exceptional quality and relevance of its work.
THE HENRY JACKSON SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Objecllves for 2024 The charity's objectives for the year centred on strengthening its ability to infomi and educate the public on key national and international political, social and economic issues. To achieve this, we worked to expand the reach and depth of our academic research, events programme and media presence across a broad spectrum of expert communities. Alongside enhancing the capacity of our research cenlres, we focused on improving operational systems to support a growing research portfolio, while increasing our influence and impact in the policy space. Strategles for achlevlng 2024 oblectlves In 2024. we maintained a flexible working approach, combining remote and offi¢e-based operations, updated our internal policies, and aligned them with current regulations. We integrated traditional media with a more strategic use of social platfDmis, expanded video production, and hosted a Patronage Dinner, reaching a wider audience and amplifying our impad. Our proactive and responsive programme of events and reports addressed majoi global challenges, including the ongoing war in Ukraine and the conflict in the Middle East, alongside instsbilily involving other regional actors. We Continued the Ukrainian Diaries event series, adVand our work on religious mapping in the UK, and tirelessly advocated for the release of hostsges. Drawing on our deep expertise in Russia and Eurasia, we provided detailed analysis, hosted key young political leaders and reported on developments in Gaza. These activities demonstraled our ability to respond to significant international issues. Throughout the year, we remained guided by our core values.. integrity and trust, civility and openness, teamwork and collaboration, rigour and courage, and originality and impact. These principles underpin all our work, ensuring our activities remain true lo our mission and uphold the highest standards. Voluntee The scalè and natur8 of volunteer activity One of the charity's proudest achievements since its inception has been the way il has been able lo utilise the help of hLJndreds of volunteers Ihrough its intemship programme. 2024 proved to be no exception, and we were able to continue a high standard of internships, giving volunteers an opportunity to partiapale in the life of a think tank. In 2024, HJS offered a range of engaging internships, and work experience opportunities aimed al politically minded, self-motivaled individuals with a wide variety of skills. Interns were taken on a full-lime or part-lime basis, to suit their requirements. The intem roles occupied throughout 2024 were communications assistant, general assistant, events assistant and several research assistants supporting our different research centres. All volunteers were offered access to internal training programmes and the opportunity lo be mentored by a senior resear¢her or member of the managementteam. These young and bright students from diverse backgrounds joined HJS for programmes of various lengths in 2024, coming from dozens of UK universities and providing a direct link between HJS and the UK educational sector. This fullils HJS'S key objective of advancing the education of the public in national policies and international affairs. The internship programme has successfully wntinued lo include remote volunteering, where interns support HJS research fellows online, thanks lo the implementslion of strict online safely protocols and cybersecurity policies. While virtual internships may not be as immersive as office-based experiences, they attract geographically diverse and international candidates, providing broader perspectives and enhancing the charity's effectiveness. In total, 50 interns took part in HJS'S placement scheme from 16 countries. In 2024, HJS maintained its high internship numbers while selecting a higher calibre of candidates, and Continued to offer remote options, providing flexibility to accommodate students, varying schedules and locations.
THE HENRY JACKSON SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevemgnts and perf0rn7an¢e Significant activities and achievements against objectives 2024 Maln Achlevements and Performance Throughout 2024, the Henry Jackson Society remained focused on the defining challenges to global security. We continued our rigorous analysis of Russia's illegal war on Ukraine, the escalating conflict in the Middle East, China's growing assertiveness, and Iran's nuclear ambitions. Our research anticipated and unpacked these threats with clarity, ensuring policymakers were informed before crises fully unfolded. This year, our illfluen translated into measuiable policy impact. As we approached the 20th anniversary of the Henry Jackson Society, we were keen lo highlight the sustained impact of our policy work over lime, induding its potential for future influence. Our research and advocacy have ¢onlribuled towards thirty-five recommendations, alongside twenly-nine other significant influences, that have been adopted by the UK Govemment. These have helped shape commitments to rebuild Britain's warfighting resources, accelerate defence innovation, and strengthen cyber resilience. Our work has also infomied rneasures to protect critical national infrastructure, enhance M15's capabilities, deepen Indo-Pacific cooperation, and reinforce the UK'S role in Europe. We addressed underexamined issues Including hostile slate Interference, shifb.ng religious and political demographics, and the disinformation that fuels extremism. High-level engagements ranged from convening European ambassadors in London to continuing the tradition of the Reagan-Jackson Security Dialogue Conference in partnership with the Ronald Reagan Presidential Foundation and Inslilute. 11 was a privilege lo build on the momentum of previous years, bringing together US Congressional leaders and British Parliamentarians for two days of discLJssions in Cambridge. Headlined by First Sea Lord and Chief of Naval Staff Admiral Sir Ben Key, with contributions from leading experts, the event reinforced our role as a trusted voice providing the foresight, integrity and strategic clarity needed lo defend the Free Wodd. It remained a key annual fixture, further deepening transatlantic security cooperation.
THE HENRY JACKSON SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 In 2024. we achieved 196 tier-one media appearances, wth regular Coverage across leading outlets including The Telegraph. Sky, BBC, The Times, Fran 24, the Daily Mail, The GLJardian, Fox, LBC, GB News, TalkTV, The Spectator, Bloomberg, and others. We also published 79 opinion pieces over the year, ensuring our analysis and perspectives reached wide and influential audiences. Our events programme continued lo thrive in 2024, delivering 42 events frorn our HJS office equipped with live- streaming capabilities, alongside additional sessions held at Parliament. This diverse programme provided platform lo share our research and insights with thought leaders, opinion formers, and the public, ensuring our work remained al the forefront of key policy debates. By integrating online Conlribulors. we broadened our reach, attra¢ting high-calibre audiences and engaging global expertise more regularly. A major highlight was a dedicated series of workshops on combating disinfomiation and safeguarding democratic discourse, which significantly strengthened our ability to confront contemporary challenges and protect the principles of an open society. HJS produced 16 research publications throughout 2024. These ranged from in-depth reports lo shorter policy papers geared towards making poliey-relevanl recommendations and are listed here.. Lessons from the First Cyberwar.. How Supporting Ukraine on the Digital Battlefield Can Help Improve the UK'S Online Resilience Unfreezing the Abraham Accords.. A New Transatlantic Strategy for Greater Pea, Stability and Integration in the Middle East The Prospective Immigration Policy of Sir Keir Stamier's Labour Paty Drawing the Line". Declaring Pulin Illegilimale as a Slep Towards Fulure-Russia A Culture of IpUnity.. Understanding Conflicl-Relaled Sexual Violence in Contemporary Proxy Warfare Restoring Delerrence." Deslabilising the Iranian Regime From the Ballot to the Bullet. The Rise of Political Violence in the West- And How lo Slop11 Religious Diversity in UK Padiamenlary Constituencies Confronting Campus Antisemilism.. A Deep Dive into Campus Climate and Strategic Policy Recommendations How Mongolia is Transforming into a Beacon for Foreign Direct Investment in EastAsia Linking Forces.. Western Support for the Russian Diaspora Decreasing Rare Earths Dependency.. How the Five Eyes Allian Can Minimise Rare Earths Trading Risk with China Military Lessons for NATO from the Russi&Ukraine War.. Prèparing for the Vwdrs of Tomorrow Prison Break.. Reforming Britain's Prison System Understanding Kazakhstan's Strategic Importance.. A Middle Power Partner for the UK in Central Asia Questionable Counting.. Analysing the Death Toll from the Hamas-Run Ministry of Health in Gaza Measures to assess success The charity rigorously evaluates its perfomiance against clearly defined objectives lo ensure accountability and impact. Key perfomiance indicators include event attendance and the calibre of participants, the level of engagement with officials and policy makers, the volume and quality of published reports, and the extent of coverage across print, online, and broadcast media. Social media reach, growth in individual and corporate membership, donor relenlion, and the creation of new funding streams are also closely tracked. These metrics are monitored on a monthly basis and presented lo the Trustees al regular intervals, enabling informed decjsion making and continuous improvement. Financial review Total in¢ome in the year increased by £44,763 to £1,255,010 compared with £1,210.247 for the prior year. Key in¢ome remained as donations from Henry Jackson In¢ and 3rd party donations. The lolal expenditure for the year in¢reased from £1,071,357 for the prior year to £1.217,785 for 2024. The charity results show a surplus of £37,225 for the year12023.' £138,890). The unrestricted funds increased to £180,01012023'. £143,266). Free reserves at 31 December 2024 arnounted to £174,36512023'. £132,705).
THE HENRY JACKSON SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 ReseThes polioy The charity aims lo hold levels of reserves of at least three months operating expenses. This level is maintsined in years the accounts have lower free reserves indicated by an external guarantee providing access to further funds if required, thereby Satisfying going concern criteria. 1115 not the intention of the Ttuslees lo accumulate reserves and the Trustees seek lo apply all funds above the required level in accordance with the charity's slated objectives. Three months operating expenses are in the region of £270k, al present the level of free resetves is below this desired level. Majorrisks Risk management The Board of Trustees is responsiblè for the management of risks faced by the charity. Risks are identified, assessed, mitigated and controls established. The principal risks and uncertainties facing the charity and the strategies for managing the risks are". Loss of in¢ome due to withdrawal of support from donors- the organisalion continually liaises with existing donors and also reaches out to potential new ones at every possible opportunity The security of staff and premises - the office security is as tight as could reasonably be expected and the risks are discussed with staff and advice offered Cyber-security risk if systems fail to meet operational need andlor a losslcorruplion of data occurs - cyber security and authorisation procedures are regularly appraised and measu$ to secure and protect data are implemented. The management of risks is driven by the risk management policy. Consequently. the Trustees are satisfied that the major risks identified have been mitigated appropriately and there are no major threats. Plans for future perlods The charity expects lo be able to continue ils organisalional advancement in 2025. This will be achieved by.. expansion and diversification of our donor base,. increasing our income through our individual and corporate membership programme and events sponsorship", Improving our influence with increased parfiamenlary and civil servant engagement, and furthering our impact with heightened media engagement. Organisalional excellence, regulatory compliance and business improvement remain high in our priorities, with processes and policies being reviewed as appropriate. Structure. govemance and management Governing document The charity is controlled by its governing document, a deed of trust, and consb'tutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Charity constitution The company Ino. 74657411 was incorporated on 9 December 2010. On 18 February 2011 the Trustees of the unincorporated The Henry Jackson Society Project for Democratic Geopolitics (UK registered charity number 11139481 transferred ils assets, subject lo ils liabilities, lo The Henry Jackson Society la company limited by guarantee UK registered charity number 11404891, a successor corporate charity wth the same charitable objective$. HJS is established as a charitable company limited by guarantee and is a registered charity with the Charity Commission (No 11404891. The charity's affairs are governed by its Memorandum and Articles ofAssocialion which allows for any activities covered by the charity's objectives with no reslriclions. In the event of the company being wound up the maximum amount each member wll contribute is £1.
THE HENRY JACKSON SOCIETY TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees. who are also the diredors for the purpose of company law. and who served during the year and up lo the date of signature of the financial statements were.. Mr S L Caplan Mr G Defries DrA L Mendoza Mr D Rasouly Dr B P Simms Sir B K Lewis Ms J AHalpern prin MBE DrA M Jenkins Mr D M Tarshish Mr J M Angus MsSCGall (Resigned 31 January 20251 (Resigned 31 December 20241 (Appointed 19 December 2024} (Appointed 14 July 20251 IAppDinted 14 July 20251 (Appointed 14 July 20251 (Appointed 14 July 20251 (Appointed 14 July 20251 Recmilment and appointment OftSteeS Trustees are selected by those trustees who are serving al the lime of selection. New trustees are selected on the basis of the added experience that they can bring to the Board. On selection, Trustees are provided wlh Charity Commission documentation and guidance and have induction meetings with key management staff. Org&nis&lional slmcture The charitable company is administered by the Board of Trustees which is its governing body. The Board meets regularfy lo discuss and formulate policy which is then implemented by the professional team. Trustees are appointed lo the Board in accordance wth the Artides of Association. Decisions made by the Board are informed with the relevant data and Information and regular reports from our professional staff and taken on a Tnaiorily vole basis. Operational decisions are delegated lo the Executive Director, or other members of the Senior Management Team. The setting of pay and remuneration of the charity's key management personnel is based on industry benchmarks and is reviewed on an annual basis. Relationship with related partS Subsidiary activity The subsidiary undertaking, SlralegicAnalysis Lirniled, did not trade during the year. Auditor In a¢cordance with the company's articles, a resolution proposing that Haines Watts Swindon Limited be reappointed as auditor of the company will be pul al a General Meeting. Disclosure of information to auditor Each of the trustees has confirmed that there is no information of which they are aware which is relevant lo the audit, bLJt of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information. The trustees, report was approved by the Board of Trustees. Lgwi Trustee Date.. .29/Q912025......................
THE HENRY JACKSON SOCIETY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees, who are also the dirertors of The Henry Jackson Society for the purpose of Company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of reSoUrs, induding the income and expenditure, of the charitable company for that year. In preparing these 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 judgemènts and eslimales that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalements", and prepare the financial slalements on the going Concern basis unless il is inappropriate lo presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disdose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial slalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities.
THE HENRY JACKSON SOCIETY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE HENRY JACKSON SOCIETY Oplnlon We have audited the financial statements of The Henry Jackson Society (the 'charity'l for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial stslemenls, 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 R&public of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial slatemenls.. give a true and fair view of the slate of the charitable company's affairs as al 31 December 2Q24 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been properly prepared in accordance wlh United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance wlh Inlernalion81 Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the Audilorts responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial stslemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance ¥Mth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons r8latlng to golng concorn In auditing the financial statements, we have concluded that the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going concern lor a period of al least e1ve months from when the financial slalements are authorised for issue. Our responsibilities and the responsibilib'es of the trustees ¥Arith respect lo going concern are described in the relevant sections of this report. other information The other Information comprises the Information included In the annual report other than the financial slalements and our auditorfs report Ihereon. The Iruslee5 are responsible for the other information contained within the annual report. Our opinion on thè financial slalements does not cover the other infomation and, except to the exlenl olheNise explicitly slated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is lo read the other information and, in doing so, consider whether the other information is materially in¢onsistenl ¥Mth the financial statements or our knowledge obtained in the course of the audit, or olhenNise 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 misslatemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Opinion5 on other matters prescribed 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 for the financial year for which the financial slalements are prepared, which includes the directors. report prepared for the purposes of company law, is consistent with the financial slalements", and the diredors. report included within the trustees. report has been prepared in accordance with applicable legal requirements.
THE HENRY JACKSON SOCIETY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HENRY JACKSON SOCIETY Mattgrs on whl¢h we are requlred to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstslemenls in the directors, report included wthin the Iruslees, report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 requires us to report lo you if, In our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been reiVed from branches not visited by us.. or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of Iruslees, remuneration specified by law are not made, or we have not received all the information and explanations we require for our audit., or the Iruslees were not entitled lo prepare the financial slalements in accordance with the small companies regime and tske advantsge of the small companies, exemptions in preparing the tiuslees, report and from thè requirement lo prepare a strategic report. Responsibilities of trustee$ As explained more fully in the statement of trustees. responsibilities. the trustees, who are also the directors of the charity for the purpose 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 inlemal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error. In preparing the financial slatemenls, the trustees are responsible for assessing the charity's ability lo continue as a going concern, disclosing, as applicable, matter5 related lo going concern and using the going concern basis of accounting unless the Iruslees either intend to liquidate the charitsble company or to cease operations, or have no realistic altemalive but to do so. Auditorfs responsibilities for the audit of the financial statements Our objedives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 lo influence thè economic decisions of users taken on the basis of these financial slatemenls. The extent lo which our procedures are capable of detecting irregularities, including fraud, Is detailed below. We obtained an understanding of the legal and regulatory framework applicable lo both the company itself and the industry in which it operates. We identified areas of laws and regulations that could reasonably be expected lo have a material effect on the financial statements from our sector experience and through discussion with the directors and other management. The most significant were identified as the Companiès Act 2006, UK GAAP IFRS1021 and relevant tsx legislation. We considered the extent of ¢omplian¢e with those laws and regulations as part of our procedures on the related financial slatemenls. Our audit procedures induded.. making enquires of directors and management as to where they consider there lo be a susceplibilily lo fraud and whether they have any knoTMedge or suspicion of fraud., obtaining an understanding of the internal controls established lo mitigate risks related lo fraud or non- compliance with laws and gulatIOnS", assessing the design effectiveness of the controls in place to prevent and detect fraud., assessing the risk of management override including identifying and lesling journal entries., challenging the assumptions and judgements made by management in ils signifi¢anl aOUntIng estimates. Despite the audit being planned and conducted in accordance with ISAS IUKI there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing lo inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularty likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls. 10-
THE HENRY JACKSON SOCIETY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE HENRY JACKSON SOCIETY A further description of our responsibilities is available on the Financial Reporting Council's websrte al.. https.'Il www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Martin Gurney FCA (Senior Statutory Auditor) For and on behalf of Haines Wdtts Swindon Limited, Slalulory Auditor Chartered Accountants Old Station House Stslion Approach Swindon Wiltshire SN1 3DU Date..
THE HENRY JACKSON SOCIETY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income from: Donations and legacies Other trading activities Investments 1,239,172 13,968 1,871 1,196,099 14,143 Total income 1,255,011 1,210,247 Expenditure on: Charitable activities 1,215,727 1,071,357 Totsl expenditure 1,215,727 1,071,357 Net Incom9 and movom9nl In fund$ 39,284 138,890 Reconclllatlon of funds: Fund balances at 1 January 2024 143,266 4,376 Fund balanc at 31 Dmber 2024 182,550 143,266 The statement of financial activities includes all gains and losses recognised in the year. Al income and expenditure derive from continuing activities. 12-
THE HENRY JACKSON SOCIETY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible assets Investments 11 12 8,154 10,560 8,155 10,561 Current assets Debtors Cash at bank and in hand 13 61,073 181,220 38,267 178,563 242,293 216,830 Credltors: amounts falllng due wlthln one year 15 163,5991 169,7731 Net current assets 178,S94 147,057 Total assets less current liabilities 186,849 157,618 Creditors: amounts falling due after more than one year 16 14,2991 114,3521 Net assets 182,550 143,266 The funds of the charity Unrestricted funds 17 182,550 143,266 182,550 143,266 The financial stslemenls were approved by the Iruslees on 10.09.2025. Etahdoh Le1 Br3nclon L&wis jsep 29. 202 Jf 13.fJ7.-07 GMT+II Trustee Company registration number 07465741 (England and Wales) 13-
THE HENRY JACKSON SOCIETY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Cash flows from operating activities Cash generatèd from operations 21 13,836 110,960 Investing activities Purchase of tangible fixed assets Investment income reiVed 12,9971 1,871 12.9111 Net cash used in investing activitiès 11,1261 {2,9061 Flnanclng actlvltles Repayment of bank loans {10,0531 19,8181 Net cash used in financing activities 110,0531 {9,8181 Net Increase In cash and cash equlvalents 2,657 98,236 Cash and cash equivalents at beginning of year 178,563 80,327 Cash and cash equivalents at end of year 181,220 178,563 14-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounllng pollcle$ Charlty Infomiatlon The Henry Jackson Society is a private company limited by guarantee incorporated in England and Wales. The registered oftice is 26th Floor, Millbank Tower, 21-24 Millbank, London, SW1 P 4QP. 1.1 Basis of preparation The financial slalements havè been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP Accounting and Reporting by Charities.. Slalement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is a Public Benefit Enlily as defined by FRS 102. The financial statements are prepared in sterfing, which is the fLJnctional CLJrrency of the charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have been prepared under the historical Cost Convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instrLJments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern Al the time of approving the accounts, the TTUStees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future, as the trustees expect lo continue lo receive donations from major donors. The charity relies on continued support from Henry Jackson Society Inc, a US entity and sees no reason why this support will not continue for the next 12 months. Thus the Trustees, continue to adopt the going concern basis of accounting in preparing the accounts. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income l income is recognised in the Statement Df Financial Activities on¢e the charity has entrtlernenl lo the funds, it is probable that the income will be received and the amount can be measLJred reliably. 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in setuement and the amount of the obligation ¢an be measured reliably. Expenditure is a¢¢ounled for on an accruals basis and has been classified under headings that aggregate all cost related to the category. INhere costs cannot be direcuy attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured al wst and subsequently measured at cost or valuation, nel of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases". Fixtures and fittings 250/0 slraighl line 15-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of finanaal ath"vib"es. 1.7 Flxed asset Investments Fixed asset investments are initially measured al cost and subsequently measured at cost less any accumulated impairment IDsses. The investments are assessed for impairment al each reporting date and any impairment losses or reversals of Impairment losses are recognised immediately In nel incomellexpendilurel for the year. A subsidiary is an entity controlled by the Charity. Control is the power lo govern the financial and operating policies of the entity so as to obtain benefits from ils activities. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held al call wth banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown thin borrowings in current liabilities. 1.9 Retlrement beneflts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable Company's pension scheme are charged to the Statement of Financial Activities in the period ID which they relate. 1.10 Debtors Trade and other debtors are cOgnised al the setuement amount due. Prepayments are valued al the amount prepaid. 1.11 Creditors Creditors are recognised where the charty 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 dLJe to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount. In¢omg from donatlons and 19gac19$ Unrestrlcted Unrestrlcted funds funds 2024 2023 Donations and gffts Donation from HJS Inc Membership fees Other 570,814 579,403 33,779 55,176 526.696 555,173 27,053 87,177 1,239,172 1,196,099 16-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from other tradlng a¢tlvltles Unrestrlcted Unrestrlcted funds funds 2024 2023 Rentsl income funds 13,968 14,143 Incoma from invostmonts Unr9$1rl¢ted Unrg$trl¢ted funds funds 2024 2023 Deposit aoUnt interest 1,871 Expenditure on charitable activities Charitable Activities 2024 Charitable Activities 2023 Direct costs Staff costs Depreciation and impaimient Events 744,883 5,403 389,291 608,772 4,916 389,793 1,139,577 1,003,481 Share of support and governance costs Isee note 61 Support Governance 58,776 17,374 52,400 15,476 1,215,727 1,071,357 Analysis by fund Unrestricted funds 1,215,727 1,071,357 17-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support costs allocated lo actlvltles 2024 2023 Staff costs offi costs Legal and professional Governance costs 39,622 16,634 2,520 17,374 32,381 13,931 6,088 15,476 76,150 67,876 Analysed between- Charitable Activities 76,150 67,876 Net movement In funds 2024 2023 The nel movement in funds is slated after d)argingll¢redilingl'. Fees payable for the audit of the charity's financial slalemenls Depreaalion of owned tangible fixed assets 9,450 5,403 9,000 4,916 Trustees One trustee received remuneration in the year of £164,182 12023.. £128,570) for services provided to the charity in a capacity other than as a trustee. No other trustees reiVed remuneration for their role as trustee. Employ99$ The average monthly number of employees during the year was.. 2024 Number 2023 Number 11 10 Employment costs 2024 2023 INages and salaries Social security costs Other pension costs 708,932 73,011 10,486 576,075 61,473 10,081 792,429 647,629 18-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees (Continued) The number of employees whose annual remuneration was more than £60,000 is as follows.. 2024 Number 2023 Number £60,001- £70,000 £160,001 to £170,000 Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 226,861 243,039 10 Taxallon The charity is exempt from laxalion on its activities because all ils income is applied for charitable purposes. 11 Tanglble flxed assets Fixtures and fittinys Co$t Al 1 January 2024 Additions 30,703 2,997 Al 31 December 2024 33,700 Depreciation and impaimient Al 1 January 2024 Depreryation charged in the year 20,143 5,403 Al 31 December 2024 25,546 Carrying amount At 31 December 2024 8,154 Al 31 December 2023 10,560 19-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Flxed asset Inve$tments other investments Cost or valuation Al 1 January 2024 & 31 December 2024 Carrying amount Al 31 December 2024 Al 31 December 2023 2024 2023 Other investments comprise.. Notes Investments in subsidiaries 20 13 Debtors 2024 2023 Amounts falllng dug wlthln ono year: Trade debtors Amounts owed by fellow group undertakings Other debtors Prepayments and accrued income 26,700 2,790 7,502 24,081 190 2,790 7,443 27,844 61,073 38,267 14 Loans and overdrafts 2024 2023 Bank loans 14,299 24,352 Payable within one year Payable after one year 10,000 4,299 10.000 14,352 -20-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Credltors: amounts falllng due wllhln one year 2024 2023 Notes Bank loans Other tsxation and social security Trade creditors Other creditors Accruals and deferred income 14 10,000 22,530 572 1,987 28,510 10,000 23,097 4,935 2,286 29,455 63,599 69,773 16 Creditors: amounts falling due after more than one year 2024 2023 Notes Bank loans 14 4,299 14,352 17 Unrg$trld9d funds The unrestricted funds of the charty comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These indude desi9nated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended At31 December 2024 General funds 143,266 1,255,011 11,215,727) 182,550 Prevlous year: At 1 January 2023 Incomlng Resources resources expended At31 December 2023 General funds 4,376 1,210,247 11,071,357) 143,266 18 Operatlng lea$9 ¢ommltments Lessee Al the reporting end dale the charity had oulslanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2024 2023 Within one year 63,050 63,050 21
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Related party transactlons Transactlons wlth related partles During the year the charity entered into the following transactions with related parties.. Dr Alan Mendoza, a ttuslee, received remuneration during the year of £186,699 12023 £176,9281, including £1,321 12023 £1,320) of pension contributions and £21,19712023 £20,012) employer's national insurance for his role as Executive Director of the charity, in accordance with the charity's governing document. No other trustees received remuneration or were reimbursed expenses for their role as trustees. -22-
THE HENRY JACKSON SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 20 Sub$ldlarles Details of the charity's subsidiaries al 31 December 2024 are as follows.. Name of undertaking Registered office Nature of business Class of shares held % Held Direct Indirect Strategic Analysis Limited United Kingdom Management consultsncy activities Ordinary 100.00 21 Cash generat9d from operatlon$ 2024 2023 Surplus for the year 39,284 138,890 Adjustments for: Investment Income recognised in statement of financial aclivf(ies Depreciation and impairment of tangible fixed assets 11,8711 5,403 {51 4,916 Movements in working capital.. {Increaselldecrease in debtors {Decreasel in creditors 122,8061 16,1741 11,842 144,6831 Cash generated from operations 13,836 110,960 22 Analysis of changes in net funds At l January 2024 Cash flow5 At 31 Dernber 2024 Cash al bank and in hand 178,563 2,657 181,220 Loans falling due within one year Loans falling due after more than one year 110,0001 114,3521 11 tJ,0001 14,2991 10,053 154,211 12,710 166,921 -24-