**REGISTERED COMPANY NUMBER: 07540043 (England and Wales) REGISTERED CHARITY NUMBER: 1142230**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **FOR**
## **INTERGENERATIONAL FOUNDATION**
Peter Jarman LLP trading as Peter Jarman & Company 1 Harbour House Harbour Way Shoreham by Sea West Sussex BN43 5HZ
**INTERGENERATIONAL FOUNDATION**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Notes to the Financial Statements**|8|to|11|
|**Detailed Statement of Financial Activities**||12||
**INTERGENERATIONAL FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of 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 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Intergenerational Foundation (www.if.org.uk) is a non-partisan charity that researches fairness between existing generations and generations to come. The charity works to ensure that the rights of younger and future generations are not ignored in British policy making.
## **Significant activities**
The charity conducts independent, peer-reviewed research into areas where intergenerational unfairness appears to be most acute. These include housing, education, employment, taxation, pensions, social care and the environment.
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**INTERGENERATIONAL FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **ACHIEVEMENT AND PERFORMANCE**
Overview
Despite political turmoil (three Prime Ministers, the war in Ukraine, an energy crisis, runaway inflation, together with the sad passing of Her Majesty The Queen), the charity has worked hard towards returning income to pre-pandemic levels during 2022.
2022 highlights include: the publication of six research reports, all of which achieved substantial national media attention; a 25% increase in website visitors on the previous year; 2,800 podcast downloads; and the inclusion of IF materials in A Level sociology resources. New supporters have grown with more than 90 regular supporters invited to the charity's monthly update meetings, 2,200 newsletter subscribers, and 160,000 website visitors.
On income, the charity retained corporate sponsors and donors. Income was steady at £112,000 in 2022 compared to £121,000 in 2021.The charity continued its relationship with SIPP provider, Curtis Banks, with income of £22,500. Trusts and foundation income was still down due to continued funder focus on charities delivering direct services to clients in immediate hardship. Unrestricted High Net Worth giving continued at 2021 levels.
There has been little band width for third sector organisations to gain traction at policy level and bring about much needed policy respite for younger generations. IF's non-party-political mission to protect the interests of younger and future generations is that much more urgent.
In spite of pandemic-related setbacks, IF has continued to secure income and cover its core running costs, hire new staff members, produce robust research, contribute to government consultations and grow interest in our work.
## 1. Management
Two new researchers have been appointed. A dedicated digital consultant is currently being recruited.
## 2. Focus areas
The charity continued to focus on producing newsworthy research, achieving media coverage, undertaking public affairs to inform government policy, and the recruitment of new supporters and donors.
## 3. Research undertaken
The charity continued to investigate, produce and distribute research on specific areas of intergenerational unfairness:
Packhorse Generation: The new tax burdens forced onto young people by inflation. Cladding Scandal: A crisis for young people Future Generations and the Net Zero Transition 3 Million Pensioner Millionaires: Identifying the numbers Trains over planes: Why the government should encourage domestic train travel The Savings Squeeze: Young people locked out from the benefits of saving
## 4. Public affairs during 2022
The charity interacted with six All Party Parliamentary Group (APPGs) and submitted written evidence to 19 government consultations.
## 5. Media Coverage
Government paralysis affected media coverage. In spite of this, IF achieved: 30 national media editorials; 3 radio interviews; 15 magazine articles; and 8 online editorials. The team also organised one blog week and edited and published over 60 website articles.
## 6. Outreach
The charity briefed 20 organisations on our work. The quarterly newsletter was distributed to more than 2,200 subscribers and the charity joined five alliances all working on behalf of younger and future generations.
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**INTERGENERATIONAL FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## 7. Social media
During 2022, the charity's social media engagement achieved: 574,000 twitter impressions with average monthly impressions of 52,000 and close to 4,000 followers. LinkedIn engagement grew with another 163 followers. The What IF? podcast series continued with more than 2,800 downloads by the end of the year. Instagram engagement has commenced and webinars and twitter spaces were organised and undertaken.
## **FUTURE PLANS**
The management team aims to continue to:
Return the charity's funding from trusts, foundations, companies and individuals to pre-pandemic levels.
Increase the charity's expert consultancy programme with outside organisations and return to pre-crisis funding levels.
Grow digital communications and recruit more charity supporters by using social media channels to: drive more traffic to the website, research papers, podcast, blogs, and campaigns.
Undertake research into housing, higher education finance, mental health and the environment.
Continue to collaborate with international partners in order to extend intergenerational fairness discussions across national borders.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **Organisational structure**
The trustees meet regularly to manage the affairs of the Charity. The management team is headed by Angus Hanton and Liz Emerson, a part time manager, who helps with management. The remaining trustees, Thomas Ward and David Evans both provide expertise and advice.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
07540043 (England and Wales)
## **Registered Charity number**
1142230
## **Registered office**
19 Half Moon Lane London SE24 9JU
## **Trustees**
A T Hanton T Ward D R H Evans S E Hewin A Anwar (appointed 17.3.22)
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**INTERGENERATIONAL FOUNDATION**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Independent Examiner**
Peter Jarman FCCA Peter Jarman LLP trading as Peter Jarman & Company 1 Harbour House Harbour Way Shoreham by Sea West Sussex BN43 5HZ
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 26 September 2023 and signed on its behalf by:
A T Hanton - Trustee
Page 4
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTERGENERATIONAL FOUNDATION**
## **Independent examiner's report to the trustees of Intergenerational Foundation ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Peter Jarman FCCA
Peter Jarman LLP trading as Peter Jarman & Company 1 Harbour House Harbour Way Shoreham by Sea West Sussex BN43 5HZ
26 September 2023
Page 5
**INTERGENERATIONAL FOUNDATION**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**2022**
**Unrestricted**
**fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**112,076**
**EXPENDITURE ON**
**Charitable activities**
Research costs
**104,119**
Other
**11,215**
**Total**
**115,334**
**NET INCOME/(EXPENDITURE)**
**(3,258)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**12,770**
**TOTAL FUNDS CARRIED FORWARD**
**9,512**|2021
Total
funds
£
121,414
98,736
12,620
111,356
10,058
2,712
12,770|
|---|---|
The notes form part of these financial statements
Page 6
**INTERGENERATIONAL FOUNDATION**
## **BALANCE SHEET 31 DECEMBER 2022**
|**2022**
**Unrestricted**
**fund**
Notes
**£**
**CURRENT ASSETS**
Cash at bank
**10,712**
**CREDITORS**
Amounts falling due within one year
4
**(1,200)**
**NET CURRENT ASSETS**
**9,512**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**9,512**
**NET ASSETS**
**9,512**
**FUNDS**
5
Unrestricted funds
**9,512**
**TOTAL FUNDS**
**9,512**|2021
Total
funds
£
13,970
(1,200)
12,770
12,770
12,770
12,770
12,770|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 26 September 2023 and were signed on its behalf by:
A T Hanton - Trustee
The notes form part of these financial statements
Page 7
**INTERGENERATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2022 nor for the year ended 31 December 2021.
continued...
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**INTERGENERATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **3. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**EXPENDITURE ON**
**Charitable activities**
Research costs
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**4.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accrued expenses
**5.**
**MOVEMENT IN FUNDS**
At 1.1.22
£
**Unrestricted funds**
General fund
**12,770**
**TOTAL FUNDS**
**12,770**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
**112,076**
**TOTAL FUNDS**
**112,076**|Unrestricted
fund
£
121,414
98,736
12,620
111,356
10,058
2,712
12,770
**2022**
2021
**£**
£
**1,200**
1,200
Net
movement
At
in funds
31.12.22
£
£
**(3,258)**
**9,512**
**(3,258)**
**9,512**
Resources
Movement
expended
in funds
£
£
**(115,334)**
**(3,258)**
**(115,334)**
**(3,258)**|
|---|---|
continued...
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**INTERGENERATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **5. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|At 1.1.21
£
**Unrestricted funds**
General fund
2,712
**TOTAL FUNDS**
2,712
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
121,414
**TOTAL FUNDS**
121,414|Net
movement
At
in funds
31.12.21
£
£
10,058
12,770
10,058
12,770
Resources
Movement
expended
in funds
£
£
(111,356)
10,058
(111,356)
10,058|
|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**|At 1.1.21
£|At 1.1.21
£|Net
movement
At
in funds
31.12.22
£
£|
|---|---|---|---|
|General fund||2,712|6,800
9,512|
|**TOTAL FUNDS**||2,712|6,800
9,512|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
233,490
233,490|Resources
Movement
expended
in funds
£
£
(226,690)
6,800
(226,690)
6,800|
|---|---|---|
continued...
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**INTERGENERATIONAL FOUNDATION**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2022**
## **6. RELATED PARTY DISCLOSURES**
During the year, the company received donations of £80,000 (2021:£100,000) from companies in which one of the trustees, A Hanton is a director and shareholder.
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**INTERGENERATIONAL FOUNDATION**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Gift aid
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Research costs
**Support costs**
**Management**
Advertising
Office running costs
**Governance costs**
Accountancy and legal fees
Total resources expended
**Net (expenditure)/income**|2022
£
**110,824**
**1,252**
**112,076**
**112,076**
**104,119**
**8,620**
**1,395**
**10,015**
**1,200**
**115,334**
**(3,258)**|2021
£
118,399
3,015
121,414
121,414
98,736
10,170
1,130
11,300
1,320
111,356
10,058|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12