| Pages | ||
|---|---|---|
| Legal and administrative | information | |
| Report ofthe Directors | 2-7 | |
| Independent Auditor's |
Report | 8-9 |
| Statement of Financial | Activities | 10 |
| Balance Sheet | ||
| Cashflow Satement | 12 | |
| Note to the Financial Staements | 13-23 |
European Council on Foreign Relations Independent Auditor's Report to the members of ECFR Respon$lblliti•s of tru$t•os As explained moig lully in the tru$tees' responsibilities statement, thè trustees (who 8re also the directors of the charrtab company for the purposes of company lawl are rèsponsiblè for the preparation of the financial stat•ment5 and for being satisfied that they give a true and fair wew, and lor such irllemal ¢ontrol 8$ the trustees deterrninè is necessary to enable Ihe pparatrft of finantsal statements that are free from material misstatement, whether due to fraud or e¢ror. In preparing the financial statements. the trustees a spOnsibIè for assessin9 the charrtable company's ability to continue as a going concem. di$¢losing. as applicabl8, matters related to going COnM and using thè going COnM basis of accotsnth.ng unless the trust8ès 8ith8r Int8nd to liquate the charitable company or to (8sg operabons, or have no realisbc altém8tive but to do so Audit9$ pol1•1¢1eS for the audkt olth• flnaneial ststom•nt8 Our objectives are to obtain reasonab 8ssuran¢g about whether the finanoal statements as 8 whole are free from material misstatement. whether duè to fraud or error. and to issue an au(rto¢s report that indudes our opinion. R?850nab a5surancg is a high level of assurance, bul is not a guaiantoè that an audit o¢)nducted in aceordanc8 wilh ISAS IUKI will always detect a rnaterial rnisstatement when it exists. Misstatem$nts ¢Jn arise from fraud or èrror arld are considered material il, indiwdually or In the aggfegate, th8y COU reasonably be expectsd to influ6n¢è the economic derisions ol users taken on the basis of these financial ststements. Irregularitiès, including frydud, ore instsnces of non-pI1an with laws and regul8tion5. We design procedures in line with our responsibilitr'es, outlined above. to detect matenal misstatem8nts In respect of irregularits'es, including fraud The specific proureS for this èngagèmant and Ehe oxtgnt lo whi¢h these are capable ol detecting irragularities. including fraud Is detailed below". Enquiry ofmanagemènt and those tharyed with gov8mance around auual an¢J potenbal litigation and daims as well 8$ 8¢tu81, suspe¢ted and alleged fraud, Reviewing minutes ol meetings of thosa ch8rgad with governance., Assessing the extent of compliancé with th8 laws and regulabons ¢onsidered to have a diwct material effect on the financial statements or th8 OP8rations of the company through enquiry and Inspection, Réviewing financial siatemenl disclosures and lesbng to supporting documentation to assess compliance with pplicab18 laws and regulabons., Perfoming audit work ov8r the risk of management bias and ovorr6 ol contfofs. induding testy'ng ol joumal ei)tries and othèr 8diu51tnents for appropriateness, evaluating the business rationa of significant transactions ¢)ut$Kle the nomial course of business revi9 accounts.ng esbrnates for indicators ol potants.al bias. Because of Inherent limitations ol an audit. thèré Is a risk that we will not detect all irregulanti&s, Inclthjing those leading to a matenal rnisslatement In th& financial statements or non<ompliarpce with regulation. This nsk incrgases the MO that cornpliance wth 8 18w or regulation is rernoved from the events and Iransaebon5 reflected in the finanaal statem8nts, as we will be less likely to become aware of instanc•s of non-cornpliance. The risk Is also greater règsrding irragula1"es occufflng due to traud rather than error, as fraud invo•$ intènth.onal concéalment, forgery. collusion, omission or rnisrepresentation. A further description of our rèsponsibilrtie5 B avai18bleon the Financia Reporting Council's website at." https"Ilwww.Irc.org.UklOur-WorklAudiVAudit-and-assurancelStandards-an¢J-guidanslandard-and-gUidan-10r- auditotslAuditors-r8SP0Th5ibilities-for-audiVDescnptiorol-a1itors-re¥n9lb1lItS-for-sLK1ll.8Spx. Th description lorms part of our auditorfs reporL U¥e olour report This report is rnade sokly to the chantsble wmpany's members. as a body. in aco)rdants with Chapter 3 of Part 16 01 the Companies Act 2006. Our audrt work has been undertaken so that we might state to Ihe charitable company's member5 thos8 rnatters we are reqUId to state to them in an auditor's report and for no other PUTpose. To the fvllest axt8nt p81rnitted by law. we do not a¢pt or assume sponsIbl11ty to anyon& Olhèr than the charitable comp8ny and the charitable ¢ompany's membe¥s as a body, for our audrt work, for this report. or br the opinions we have fotrned. Ai& ALI J Howard FCA (Sènior Ststutory Auditor) For ar on behalf of Azets Audit Setvices Statutory Auditor, Ch8rterad Accountsnts 2 Floor, Regis House, 45 KirYJ William St, London, EC4R 9AN Date 2
| Unrestricted | Restricted | Total 2020 | Total 2019 | ||
|---|---|---|---|---|---|
| Note | |||||
| Incoming Resources | |||||
| Donations 8 Legacies |
2,3 | 334,952 | 334,952 | 594,421 | |
| Charitable activities |
2 | 2,300,532 | 3,009,670 | 5,310,202 | 5,849,486 |
| Investment Income |
2 | 4 | 4 | ||
| Other Income | 2 | 1,774 | 1 774 | 16,692 | |
| Total Incoming Resources |
2637,262 | 3009,670 | 5,646,932 | 6,460,599 | |
| Resources Expended | |||||
| Charitable activities: |
|||||
| Asia & China programme | 45,302 | 13,600 | 58,902 | ||
| Middle East 8 North Africa programme | 16,450 | 1,097,674 | 1,114,124 | 1,303,391 | |
| European Power programme |
14,190 | 894,925 | 909,115 | 1,220,565 | |
| Wider Europe programme | 5,442 | 433,975 | 439,417 | 584,546 | |
| Africa programme | 15,508 | 75,558 | 91,066 | ||
| Advocacy & National offices |
212,154 | 493,938 | 706,092 | 739,198 | |
| Regrant | 1,668,500 | 1,668 500 | 2,035,582 | ||
| Total Resources Expended | 1 977546 | 3,009670 | 4 987,216 | 5,883,282 | |
| Net income/(expenditure) | 659716 | 659716 | 577,317 | ||
| Other recognised gains/(losses) |
50,951 | ||||
| Net movement in funds |
659716 | 659716 | 628,268 | ||
| Reconciliation offunds |
|||||
| Total funds brought forward |
1 682,911 | 1,682,911 | 1,054,643 | ||
| Total funds carried forward | 2342 627 | 2 342627 | 1,682 911 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | 6 | ||||
| Cash flows from operating | activities: | ||||
| Net cash provided by operating activities |
16 | 2,286,215 | 701,601 | ||
| Cash flows from investing | activities: | ||||
| Purchase ofassets | 2,136 | 4,517 | |||
| Net cash used in investing | activities | (2,136) | (4,517) | ||
| Change in cash and cash |
equivalents | in the year | 2,284079 | 697,074 | |
| Cash and cash equivalents | at beginning | ofthe year | 1,675,887 | 978,803 | |
| Cash and cash equivalents | at end of | year | 10 | 3,959,966 | 1,675,887 |
| Unrestricted | Restricted | Total 2020 | Total 2019 | ||
|---|---|---|---|---|---|
| 6 | |||||
| Donations | and legacies: | ||||
| Donations | and gifts | 101,035 | |||
| Donated goods, facilities and services (Note 3) | 334952 | 334952 | 493,386 | ||
| 334952 | 334952 | 594,421 | |||
| Charitable | Activities: | ||||
| Grants | 2,300,532 | 3,009,670 | 5,310202 | 5,849,486 | |
| 2,300 532 | 3,009670 | 5310,202 | 5,849,486 | ||
| Investment | Income: | ||||
| Interest Income | |||||
| Other Income | 1,774 | 1 774 | 16,692 | ||
| 1 774 | 1 774 | 16692 | |||
| Total Income | 2,637262 | 3,009,670 | 5,646,932 | 6,460,599 |
| Total 2020 | Total 2019 | |
|---|---|---|
| 6 | ||
| Asia 8 China programme | ||
| Middle East 8 North Africa programme | 76,350 | 87,500 |
| European Power programme |
5,500 | 26,219 |
| Wider Europe programme | 18,142 | 60,749 |
| Advocacy & National Offices |
234,960 | 318,918 |
| Total Gifts in Kind | 334952 | 493,386 |
| Direct Staff | Activity | Support | ||||||
|---|---|---|---|---|---|---|---|---|
| Costs | Costs | Costs | Total 2020 | Tota I 2019 |
||||
| 6 | ||||||||
| Asia 8 China | programme | 46,793 | 12,109 | 58,902 | ||||
| Middle East | & North Africa programme | 455,187 | 344,264 | 314,673 | 1,114,124 | 1,303,391 | ||
| European Power programme |
114,661 | 487,709 | 306,745 | 909,115 | 1,220,565 | |||
| Wider Europe programme | 66,541 | 181,771 | 191,105 | 439,417 | 584,546 | |||
| Africa programme | 37,307 | 53,759 | 91,066 | |||||
| Advocacy 8 | National | Offices | 285,420 | 255,019 | 165,653 | 706,092 | 739,198 | |
| Regrant | 1,668500 | 1 668500 | 2 035582 | |||||
| 921,809 | 3,021,363 | 1,044,044 | 4,987,216 | 5,883,282 | ||||
| Total 2020 | Total 2019 | |||||||
| Support Costs | ||||||||
| Staff Costs | 581,985 | 576,658 | ||||||
| Office Rental | 224,637 | 199,459 | ||||||
| Communications | 27,733 | 39,036 | ||||||
| Support Activity costs | 15,122 | |||||||
| Professional | costs | 52,327 | 68,846 | |||||
| ITcosts | 23,991 | 57,909 | ||||||
| Depreciation, | equipment | hire 8 asset | impairment | 6,807 | 8,098 | |||
| Bank charges | & loss on exchange | 123,376 | 124,421 | |||||
| Governance | costs | 2,528 | ||||||
| Loss on sale | ofassets | 660 | ||||||
| 1,044,044 | 1,089,549 |
| Total 2020 | Total 2019 | |||
|---|---|---|---|---|
| Auditors remuneration |
for the charity: | |||
| Audit fees for the audit | of charity | 11,447 | 11,150 | |
| Under provision | ofprior years' audit fee | (1,502) | ||
| Other services | 7,903 | 10,095 | ||
| 19,350 | 19,743 | |||
| Depreciation | 5,803 | 7,118 | ||
| Operating lease |
office rentals | 169,442 | 141,142 |
| Staff Costs | Total 2020 | Total 2019 | |||
|---|---|---|---|---|---|
| Salaries 8 wages | 1,248,913 | 1,214,343 | |||
| Social security costs, | incl. pension | arrangements | for non-UK staff | 159,786 | 149,644 |
| Pension costs (defined | contribution | scheme for | UK staff) | 61,354 | 61,972 |
| Redundancy costs |
(20,133) | ||||
| Other employee benefits |
33741 | 31,690 | |||
| 1,503,794 | 1,437,516 |
| Band | 2020 | 2019 |
|---|---|---|
| 670,000 to 679,999 | ||
| 680,000 to 689,999 | ||
| 690,000to699,999 | ||
| 6100,000 to 6109,999 | ||
| 6110,000to6119,999 | ||
| 6120,000to6129,999 | ||
| 6140,000 to 6149,999 | ||
| 6170,000 to 6179,999 | ||
| 6180,000 to 6189,999 |
| Charity | Computer Equipment |
Office Equipment |
Fixtures, fittings & equipment |
Fixtures, fittings & equipment |
Total |
|---|---|---|---|---|---|
| Costs | |||||
| At 1stJanuary 2020 | 61,828 | 50,910 | 22,570 | 135,308 | |
| Additions | 2,136 | 2,136 | |||
| Disposais | 1 131 | 1 131 | |||
| At 31st December 2020 | 62,833 | 50910 | 22,570 | 136,313 | |
| Depreciation | |||||
| At 1stJanuary 2020 | 54,847 | 50,910 | 22,570 | 128,327 | |
| Charge for the year | 5,803 | 5,803 | |||
| Disposais | 471 | 471 | |||
| At 31stDecember 2020 | 60 179 | 50910 | 22,570 | 133659 | |
| Net Book Value | |||||
| At 31stDecember 2020 | 2 654 | 2 654 | |||
| At 31stDecember 2019 | 6,981 | 6,981 |
| 2020 | 2019 | |
|---|---|---|
| Trade Debtors | 32,073 | 121,653 |
| Accrued Income | 144,985 | 176,398 |
| Property Deposit |
42,533 | 42,533 |
| ECFR Group Debtors | 175,157 | 47,978 |
| Other Debtors | 1,548 | |
| Prepayments | 77597 | 63,033 |
| 472,345 | 453,143 |
| 2020 | 2019 |
|---|---|
| 3959,966 | 1,675,887 |
| 3,959966 | 1,675,887 |
| 2020 | 2019 | |||
|---|---|---|---|---|
| Analysis ofcreditors | ||||
| ECFR Group Creditors | 80,718 | 58,915 | ||
| Trade Creditors | 44,863 | 90,555 | ||
| Other Tax and Social Security Costs | 1,097 | 43,444 | ||
| Pension Contributions |
7,949 | 8,434 | ||
| Sundry Creditors | 65,183 | 71,858 | ||
| Accruals | 113,722 | 114,628 | ||
| Deferred Grant income | 1 778806 | 65,266 | ||
| 2,092,338 | 453,100 | |||
| Deferred Income | 2020 | 2019 | ||
| Movement in deferred |
income account: | |||
| Balance at 1 January | 65,266 | 90,408 | ||
| Amounts added in current period |
1,778,806 | 65,266 | ||
| Amounts released to income from previous |
periods | 65,266 | 90,408 | |
| Balance at 31 December | 1,778 806 | 65,266 |
| 01 | 31 | ||||
|---|---|---|---|---|---|
| Restricted Purpose -a grant |
January | December | |||
| Donor | to su ort |
2020 | Income | Ex enditure | 2020 |
| Bill 8 Melinda Gates Foundation |
Future of Development Aid |
68,207 | (68,207) | ||
| Bill 8 Melinda Gates Foundation |
Africa Programme 2020-2022 |
40,355 | (40,355) | ||
| Compagnia di San Paolo |
Strategic Partnership 2020- 2021 |
127,500 | (127,500) | ||
| Compagnia di San Paolo |
Strategic Partnership 2020- 2021 |
92,500 | (92,500) | ||
| Compagnia di San Paolo |
Strategic Partnership 2019- 2020 |
32,652 | (32,652) | ||
| Embassy ofthe UK in Moscow |
Building bridges to a younger Russia, via its civil socie |
29,460 | (29,460) | ||
| Enagls | Madrid core 2019/2020 | 25,000 | (25,000) | ||
| Equinor | Partnership 2020 |
25,000 | (25,000) | ||
| European External Action Service EEAS |
European Sovereignty Phase II |
30,000 | (30,000) | ||
| Japan Bank for | |||||
| International | MENA Annual Support 2020 |
100,000 | (100,000) | ||
| Coo eration JBIC |
|||||
| JETRO | New Power Map | 35,000 | (35,000) | ||
| Konrad-Adenauer- Stiftun KAS |
Al 8 autonomy in warfare |
28,654 | (28,654) | ||
| Ministry of Foreign Affairs Finland |
Multilateralism project |
25,000 | (25,000) | ||
| Ministry ofForeign Affairs Denmark |
Core support MENA 2019- 2022 |
198,174 | (198,174) | ||
| Ministry of Foreign Affairs Norwa |
MENA Support 2018-2020 | 272,438 | (272,438) | ||
| Ministry ofForeign Affairs Norwa |
Africa 2020 with NUPI | 35,203 | (35,203) | ||
| Ministry of Foreign Affairs Sweden |
EP Programme Support 2020 |
104,367 | (104,367) | ||
| Ministry of Foreign Affairs Sweden |
WEP Core Support 2020 | 85,391 | (85,391) | ||
| Ministry of Foreign Affairs Sweden |
MENA Programme Support 2020 |
47,439 | (47,439) | ||
| Open Society Foundations OSF |
UNLOCK 2020 | 811,731 | (811,731) | ||
| Open Society Foundations OSF |
UNLOCK Phase III |
51,967 | (51,967) | ||
| Rockefeller Brothers Fund |
Iran taskforce 2019-2021 | 34,470 | (34,470) | ||
| Swedish International Develo ment A enc |
MENA Core Support 2020 | 332,076 | (332,076) | ||
| Swedish International Develo ment A enc |
WEP Core Support 2020 | 294,125 | (294,125) | ||
| Various below 6 20.000each |
Advocacy 8 National Offices |
33,785 | (33,785) | ||
| Various below 6 20.000each |
Asia 8 China programme | 13,600 | (13,600) | ||
| Various below C 20.000each |
European Power programme |
15,000 | (15,000) | ||
| Various below C 20.000each |
Middle East & North Africa ro ramme |
20,576 | (20,576) | ||
| 3,009,670 | (3,009,670) |
| 01 | 31 | ||||
|---|---|---|---|---|---|
| Restricted Purpose -a grant |
January | December | |||
| Donor | to su ort |
2019 | Income | Ex enditure | 2019 |
| Bill 8 Melinda Gates Foundation |
Future of Development Aid |
123,831 | (123,831) | ||
| Compagnia di San Paolo |
Strategic Partnership 2019- 2020 |
51,778 | (51,778) | ||
| Compagnia di San Paolo |
Strategic Partnership 2020- 2020 |
243,261 | (243,261) | ||
| Embassy ofthe UK in Moscow |
Building bridges to a younger Russia, via its civil socie |
36,273 | (36,273) | ||
| Fondation Calouste Gulbenkian |
Strategic Partnership Pilot Phase 2020 |
104,264 | (104,264) | ||
| Foreign and | |||||
| Commonwealth Office United Kingdom |
Western Balkans 2019/2020 |
66,856 | (66,856) | ||
| FCO | |||||
| Japan Bank for International Coo eration JBIC |
MENA Annual Support on Iran & Others |
101,180 | (101,180) | ||
| Konrad-Adenauer- Stiftun KAS |
Al 8 autonomy in warfare |
27,216 | (27,216) | ||
| Microsoft | Trust and Security in C bers ace |
28,982 | (28,982) | ||
| Ministry of Foreign Affairs Denmark |
Core support for MENA 2019- 2022 |
101,310 | 101,310 | ||
| Ministry of Foreign Affairs Netherlands |
Europe and its Neighbours Tender "PROGRESS" |
73,015 | (73,015) | ||
| Ministry of Foreign Affairs Norwa |
MENA Support 2019-2020 | 475,589 | (475,589) | ||
| Ministry of Foreign Affairs Sweden |
Multiprogramme support MENA, WEP, EP |
812,417 | (812,417) | ||
| Open Society Foundations OSF |
UNLOCK Phase I |
448,420 | (448,420) | ||
| Open Society Foundations OSF |
UNLOCK Phase II |
697,782 | (697,782) | ||
| Open Society Foundations OSF |
UNLOCK Phase lll |
69,605 | (69,605) | ||
| Rockefeller Brothers Fund |
Iran taskforce 2020 —2021 | 44,015 | (44,015) | ||
| Various below 6 20.000each |
Middle East 8 North Africa ro ramme |
48,606 | (48,606) | ||
| Various below C 20.000each |
Wider Europe programme | 13,901 | (13,901) | ||
| Various below 6 20.000each |
Advocacy & National Offices |
14,384 | (14,384) | ||
| 3,582,685 | (3,582,685) |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Net income/(expenditure) for the |
reporting | period | 659,716 | 577,317 | |
| Adjustments for: |
|||||
| Depreciation | 5,803 | 7,118 | |||
| Loss/(profit) on sale offixed assets |
660 | 498 | |||
| (Increase)/Decrease in debtors |
(19,202) | 403,913 | |||
| Increase/(Decrease) in creditors |
1,639,238 | (362,755) | |||
| Foreign Currency Translation |
reserve | 75,240 | |||
| FXmovement on fixed assets |
(441) | ||||
| FX Loss/ (Profit) on sale of investment | 711 | ||||
| 2,286,215 | 701,601 | ||||
| 7) Operating lease commitments |
|||||
| 2020 | 2019 | ||||
| The charity had total commitments | under | ||||
| an operating lease as follows: |
|||||
| Not later than one year | 142,257 | 9,447 | |||
| Later than one and not later than | five years | 11,855 | |||
| Later than five years |