Chaty reglstratlon number 11455B6 Company reglstratlon number 07788763 (England and Walesl INTERNATIONAL POLE AND LINE FOUNDATION ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
INTERNATIONAL POLE AND LINE FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr R Hoosen Ichairrnan) Mr J 8urion Ms M Rann Mr M Mochlar DrYLi Ms S lrnende-ungadi Mr U Baumgartner Mr M Rasheed Charlty numb•r 1145586 Company number 07788783 Regl8tered offlc• CIO Wnckworth Sheood LLP Cumnor Hill Oxford OX2 YGG Audltor DSA Prospect Audit Limited First Floor 1 Des Roches Square Wrtan Way tney OX28 4BE 8ankern HSBC UK Bank pk Thames Valley Corporate Level 7. Thames Tower Station Road Reading. Berkshire RG1 1LX Sollcltors nckworth Sheood LLP 2 Chawley Pa Cumnor Hill Oxford OX2 9GG
INTERNATIONAL POLE AND LINE FOUNDATION CONTENTS Page Tnjstees. feport Statement of trustees, responsibilities Independent audito¢s report Statement ol financjal activitie B8lan¢e sheet 10 Slalemenl ol ¢gsh flows Notes to the financial statements 12-21
INTERNATIONAL POLE AND LINE FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEAIBER 2023 The trustees present their annual report and finanaal statements for the year ended 31 December 2023. The accounts have been prepared in accordance wih the accounting policies set out in note 1 to the accounts and comply with the charity's Memorandum of Assouation. the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended Practice applirable to charities preparing their account5 in accordance with the Financial Reporting Standard appliG4ble in the UK and Republic of Ireland IFRS 1021" 18$ amended lor accounting penods commenung from l January 20161. Oblectlves and actlvltles The charity's objedives and principal 8¢lNit*s are to promottr susl8in8ble de¥elopm&nl foi the benefrt of Ihtr public by-. the preservabon. conservation and protection of the environment in partlaT. bul not exdusively, the ¢oa$lal and marine envir¢)nm¥nt and the prudent us¢ of $Our¢$$'. the relief of poverty and the improvement of conditions of life in socialty and economicalty disadvantaged communrties., the promotion of sust8in8ble means of achieving e¢))ntsmic grolth and regen#r8tion', in partlcular, bul nol exclusivety, Ihe conservation of marine fish populations and the envSronment on which they depend and by promling lor the public benefit effective management ol fisheries, and ensuring the sustainability of global fish stocks and Ihe heamh ol aquaknc ecosystems generally." and advancernent ol the education of the public in subjects relating to sustainable developrnent and the prote¢lions, enhan¢ement and reh8bilit81ion ol the environrnenl in parti¢ular. bul not ex¢lusivety, $lr81¥gie$ for $u$lainoble development r¢labng lo the ¢oa$lal and marine trnvironmenl. En8urlng our work d•llvérs our alms We review our aims and activities each year. The VIeW looks al what we achieved and the outcomes of our work in the previous 12 rnonlhs and at the success ol each key activity helping us to ensu our airn, objectives and activities remain focused on our stated purposes. We have referTed lo the Charity Commissions general guidance On public benefit when reviewing our aims 8nd objectives and in plannin9 our fulure actNrts. In particular, lh& trusiee$' consider how planned activities wlll contribute to th6 aims and objectives they have set. Publlc 8enefit To achieve our mission, we collaborale wth stakeholders across science poli and the seafood sector, leveraging the influence of the market to drive 511Stainable change and creale public benefit by.. DEVELOPING SUPPLY". improve existing and create new socialty and environment81ty iesponsiblè pol& and line fisheries worfdwide. IPNLF initiate practical fishery projects and help facilrtate stakeholder co- operation. DRIVING DEMANO.. demonslrate the benefits of pole and line fishing lo coas¢al communities inlemationalty. and help promole these throughout the suppty chain. IPNLF act as a voice for the pole nd line sector to hèlp tell thè story Of the people and places behind the product. The trustees ha¥e paid due gard to guidance issued by the Chanty Commission in deciding what activities the chanty should undertake. The focus of our work The Intemational Pole and Line Foundation IIPNLFI work$ to develop and dernon5trate the value of one-by-one caught tuna for thriving coastal fisheries. The charity's arnbrtion is to improve the wellbeing of coastal comtnunities and the people and seas they (xJnnecL
INTERNATIONAL POLE AND LINE FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 IPNLF'S core actNrties are well aligned wth the UN'S Sustainable Development Goals ISDGSI, helping the sustainable management of the worfd's tuna fisheries while safeguarding the livelihoods they support. Our work is evidence-based. solutions focused and guided by our Trustees. our Markets Advisory Group IMAGI, and as required, by our Scientific & Techniral Advisory Commiltee (STACI. We believe businesses can play an important role in ensuring sustainable development. This is now mo relevant than ever as the reperOJssnS of the global COVID pandemic are felt, highlighting the vulnerability of local fishing communities. The projects and WOTk streams in IPNLF'S operations. outlined in Ihe Strategy. are focu5sed to serve rts charitable objectives of ensuring sustainable development. This indudes the eontribution that tsne-by-one tuna fl$h¥ries Can make lo povtrrty fèli&f, ¢¢onomi¢ gro, and environmenlal conseNation. Achlevements and perfomance Throughout 2023 IPNLF has grown in influen¢& and impad. Through collaborativè efforts of our èxecutive team, tru$t¥e$, MberS and partners we ar* pleased to have had a successful year, with achievements induding.. Helped remote fishing MmUnleS in Indonesia by instslling a 801arwwered ice maker to improve the cold chain while also improving fishing and harvest handling lechniques. Implemented our Sotyal Responsibilty Programme A¢iion Plan to help ensurtr minimum human rights protections lor worke¥$, in¢a5$ human wellbeing and improve th¢ quality ol life of the resource dependent Communities we reprèsent. Continued to explore ahematives to live bait used in tuna pole-and4ine fisheries, potentially reducing the carbon footprint ol these fisheries and contributing to cost savings and operational efficiency, thereby enhancing living standards and promoting ocean conservation. Implemented projects in Indonesia to pilot onboard electronic monitoring. VeSsebaSed CCTV and Al- technologies to help implement more effective managemenl syslems. Provided technical sUPPOrt to ¢Oa5181 state (Jelegalions 8t the Indian Ocean Tuna Commi$8ion IIOTCI and the Inlemalion81 Cornrnission lor the Conservation of Allanlic Tunas IICCATI. AetNated morè than 100 busin8s$&s and NGOS to lobty the EU and othor IOTC momb&r$ lo strengthan conservation measures for drifting Fish A99re9ab"ng Devices IFADS). Obtained the backing of seventeen global retailers and brands to support investments in innovatlons and modern climale-lriendty technology in Indonesia. helping remote fishing communrties. Hosted fisher iraining workshops in Tanzania, Indonesia and Malayasia to help improve fish handling practices and preserve the qualty of the calch of small-s¢ale fishers. Advocated for improved markets access for small-5cale fisheries by calling for an update lo the FAO'S Ecolabelling Guideline5 at the COFI Sub-commrttee on Fish Trade in Norway. L8unthed gDhum85hi. an e-commerce p18ttorm for Maklivi8n women tradets. providing them with direct marketing and branding control over their fish woduds. Flnanclal revlew Principle funding sources The charity 15 lun by lunds which are generated from member subscriptK)ns, donations and sponsorship from retailers and brand owners.
INTERNATIONAL POLE AND LINE FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 R•seN8s Pollcy We have examined the charitys requirements of reserves in light of the main risks to the organisation. There is a policy whereby the restricted funds not commthd or invested in inlangible fixed assets held by the charty should be between 3 rnonths and 6 monlhs. The budgÈted èxp*nditur8 lor 2023 1$ $1,786.4fk8 thèrefoie the talg8t resèrve$ posit is between $446,601 and $893,202. The reserves a needed lo meet the w0ng capital requirements of the charity and we are confident at this level we would be able to conty'nue the activities of the charrty in the event of 8 signrficant drop in funding. The present level of unre$tn'¢ted lunding available to Ihe charrty is therefore below the target. There have been many challenges to overcome and circumstances to na¥igatè under the current global prèssu$ an¢J lan4scap&. The strategy is to continue to build reseNes for fu1U activities and atlract new members. We have also considered Ihe extenl to which existing acliwlies and expenditure fAJuld be curtailed, should such circumstances arise 8s risk rnilig8lion. Investmont pollcy •nd oblecllv Aslde from retaining a prudent amount in r•seNes •ach year, most of the charity's funds are lo be spent on short to medium term projects ol a maximum of 1 year, minimal funds are therefore available for long lem) investment. The trustees have assessed the major risks to which Ihe charity is exposed. and are satisfied that systerns and processes are in place to mitigate exposure lo Ihe major risks. Future pl¥n• Th& charity is working Wlth the m8rket lo encourag& ¢ommitm&nts lo souwng pole ¥nd line luna and supporting dov&lopm¢nl of th$$$ fisheri¥s as part ol Iheir porlfolio. The charity is developing guidelines for better posltharvesl management providing training and teachlng tools, tracking and communicating global demand and fisheries for possible engagemenl. The charity will collate and engage in scientific research and gain expertise of academia globalty. In parlicular, IPNLF will share best practise amongst fisheries and regions and locvs on advancing Ihird party certrfication ol fisheries and undertake constant 8nd ongoing outreach wrth pwspèctivè fishèries and Ma&t$. Structur•, gov•mane• and managèm•nt Governlng document The org8lllsalion Is 8 th8rit8ble ¢ompany. Imnited by guar8ntee. incorporated on 27 Seplernber 2011 and registered as a chanty on 23 January 2012. The charitable company was established under a Memorandum of Association which established the objects and poweis of the charrtable company and is governed under its Artides olAssociath)n. Dir•etorn and trust8•S The trustees, who are also the direclors for the purpose of company law, and who served during the year were.. Mr R Hoosen (Chairman) Mr J Burton Ms M Rann Mr M Mochtar DrYLi Ms S Imende-ungadi Mr U Baumgartner Mr M Ra5h8ed
INTERNATIONAL POLE AND LINE FOUNDATION TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 R•crultm•nt and appolntment ol new trust••s There were no changes to the trustees during the year. New injstees. are cruited based on the skills, knovAedge and experience ihat the Board requires to ensure thal the charity is well govemed. None ofthe Iruslees h85 any beneficial intsrest in the company. All ofthe trustees are members of the cornpany 8nd guarantèé tts contribute £1 in the èvent of a wnding up. Oryanlsatlonal structure Intemational Pole and Line Foundation has been set up as a charitable company limited by guarantee. It is managed by the board of directors which fomis the body of chanty Irustees.. Dgcl¥lonwmaklng All relevant deasions musl go through the board of Iwstees. Inductlon and tralnlng ol n•w trust••s The trustees are familiar with the practical work of Ihe charity, having erther a personal involvernent or a long temi interest in what it does. Addilionalty. new trustees are invited and eftVraged to attend any training strssions offered to f8rnili8ri8e Ihernselv&s with the charity and the text in which rt operates. Rlsk Monog•m•nt The trustees. have a duty lo identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place lo provide reasonable assurance against fraud and error. Audltor In accordance wth the company's articles, a resolution proposing that DSA Prospect Audit Limited be reappointed as auditor of the company ¥wll be put at a General Meeting. Reference and admlnl•¢ratlv? delalls Charity number.. 07788763 Company number.. 1145588 Registered office.. 1 London Street, Reading. BeShire, RG14QW The trustees, report was approved by the Board of Trustees. Mr R Hoosen Ichalrmanl Dated.19-Sep-2024
INTERNATIONAL POLE AND LINE FOUNDATION STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEAIBER 2023 The trustees, who are also the directors of Intemational Pole and Line Foundation 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 Accounts'ng Standards (United Kingdom Generally Accepted Accounting Practice). Company L8w requires the trustees to prepare fin8nryal st8lements for each finanryal year which gwe 8 true and fair view of th8 State ol affairs ol th8 charty and of the incoming resourtès and applieAtion of restsuieès, induding thè income and eXpendrtu, ol the charrtable company for Ihat year. In preparing these financial statements. the truslees are required lo.. select SUlt8ble accounting policies and then appty them consistently.. - obs8ni¥ th& methods and prin¢ipl¥$ in th¢ Charities SORP., - rnake judgements and estsmates that a reasonable and pwdent.. and prep8re the financial statements on the going wncem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responslble for keeping adequate accountlng COldS that dlsclose with reasonable accuracy at any time the financial posrtion ol the charity and enable them to ensure that the financial slalements comply wrth the Companies Act 2006. They a also responsible lor safeguarding the assels of Ihe charity and hence for taking asonable steps for the prevention and deteclion ol fraud and other iegUlaritIes.
INTERNATIONAL POLE AND LINE FOUNDATION INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF INTERNATIONAL POLE AND LINE FOUNDATION Oplnlon We have audited the finanaal statements of Intemational Pole and Line Foundation Ithe'charity'l foi the year ended 31 Decernbei 2023 which comprise the Statement of financial activtties, the balance sheet, the statement of cash flows and the notes to the finanual statements, induding a summary of signthtsnt accounting policies. The finanaal reporting framewo that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Finanaal Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generalty Accepted Accounting Pracbcel. In our opinion, the financial staternents.. give a tnje and lair view of the stale of the charitable companvs affairs as at 31 December 2023 and of its incoming resources and application of resources. for the year then ended.. havè baen propèrfy piepar$d bn accordance wrth Unrtèd ngdOM Genèralfy Acceptèd Accounts'n9 Pra¢tice," and havtr been prepared in 8¢cordan¢e with the requirements of the Comp8nies Ad 2006. Ba$1$ lor oplnlon We conducted our audit in accordance with Intemational Slandards on Auditing IUKI IISAS IUKII arid applicable law. Our responsibilities under those slandards are further described in Ihe Audiloffs sponSibl1111es for the audit of Ilje financial $18lem&nl$ section of our r&porl. We are independent of the charity in a¢¢ordan¢e wrth the ethical requlrements that are relevant to our audit of the finanual statements in the LIK, including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilil*s in accordance wrth these requirements. We believe that the audit evidence we have oblained is sufficient and appropriate to provide a basis for our opiniorj. ConcluBlon8 relatlng ¢0 golng concern In auditing the financial statements. we hav& conduded thai the trustees, use of the going concern basls of accounting in the preparation of the ffinancial statements is 8ppropriat8. Based on Ihe work we have perfonned. we have not identified any material uncertaintie5 relating to events or conditions that. individually or collectivety, rnay cast signffic8nl doubt on the charty's ability to continue as a going concern for a period of at least twefve months from when the financial statements are aulhorised for issue. Our responsibilrties and the responsibilrties of the trustees wth respect to going concern are described in the relevant sections of this report. Other Infomiatlon Thè other infomiats'on comprises the infomiabon included in the annual reKK)rt other than the finanaal statements and our auditors report thereon. The trustees are responsible for Ihe other inforniation contained within the annual report. Our opinion on the financial statements does not cover the other infomation and we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other infomiation and. in doing so. consider whether Ihe other information is materialty inconsi5tenl with Ihe financial statements or our knowledge obtained in the course of the audit. or otheise appears to be materialty ffli55tated. If we identify such m8teri81 inconsistencies or app3nt material misstatements, we are qUired to detemine whether this gives rise to a matenal misstatement in the financial statements themselves. If, based on Ihe work we ha¥e perfomied, we condude that there is material rnisstatement of this other infomation. we are required to report that fact. We have nothing to report in thi5 regard. Matters on which we are required to report by exception We have nothing to report in resped of the following matters in la110n to which the Chariiies (Accounts and Reports) Regulations 2008 require us to report to you if. in our opinion.. the infomats.on given in the financial statements is inconsistent in any material respect with the trustees, port.. or sufficient accounting records ha¥e not been kept," 01 the financial slalements are not in agreement wrth the aco)unting records.. or we have not received all the inlomab.on and explanab.ons we require for our audrt.
INTERNATIONAL POLE AND LINE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF INTERNATIONAL POLE AND LINE FOUNDATION R•sponslbllltl•s ol trusto•s As explained mor8 lully in the statement of tnjstees. responsibil125. thè trustees, who are also the directors of the charity foi the purpose ol company law, are responsible foi the preparation of the financial staternents and for being satisfied that they give a true an¢J lair view, and for such intemal control as the trustees detemine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the finanual statements. Ihe Iruslees are responsible for assessing the charity's ability to continue as a going concern. disdosing. as applicable. matters lated to going concern and using the going concern b8S15 of accounting unless the trustees either intend to liquid8te the charitable cornpany or to ¢e8se oper8tions, or h8ve no realistsc 8ttemali¥e bul to do 50. Audltorfs responslbllbtles lor the audlt ol the financlal ststements We have been appointed as auditor under section 144 of the Charities Ad 2011 and report in accordan wrth the Act 8nd relev8llt regulations m8de or having ellect Ihereunder. Our objectlves are lo obtain reasonable assurancè about vthether Ihè finanaal statements as a whole are free from material misslalemenl, whether due lo fraud or error, and lo issue an auditors report that indudes our opinion. Reasonable assurance is a high level of assurance but Is not a guaranlee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise frorn fraud or error and are considered material if, individualty or in the aggregale. they could ieasonabty be expected to influence th& economic decisions ol users t8ken on Ihe basis of Ihese finantyal statements. Th$ ¥xlenl lo which our procedu$ afe Capable of a&l&¢ting ittegularili&s. indydin9 fraud, is delail¥d below. Our approach to identfying and assessing the risks of material misstatement in SpeCt of irregularities. including fraud and non.compliance with laws and regulations. was as follows.. the engagemenl partner ensured Ihal the engagement team collectivety had the appropriate competence. Capabilities and skills to idenlify or recognise non-compliance with applicable laws and regulations.. we identified the laws and regulations applicable lo the ¢omp8ny through dis¢ussion$ wrth d1CtOrS and other management, and from our commercial knowledge and experience of the industry", we focused on specific laws and gulab"OnS which we considered may have a direct material effect on the financial statements or the operations of Ihe company, including the Companies Act 2006, taxation legislation and data protection. anti-bribery, employment. environrnenlal (including Waste Electrical and Electronic Equipment rerycling IWEEEI Regulalions 20131 and health and safety legislation.. we assessed the extenl ol compliance with Ihe laws and regulats'ons idenD'fied above through making enquiries of rnanagernenl and inspecting legal correspondence". an i¢Jentrfied laws and regulations were communicated wthin the au¢Jrt team regulaty and the team remalned alert to instances of noncompliance throughout the audit.
INTERNATIONAL POLE AND LINE FOUNDATION INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF INTERNATIONAL POLE AND LINE FOUNDATION Vve assessed the susceptibilty of the company's finanaal statements to material misstatement, induding obtaining an understanding ol how fraud might occur. by.. making enquiries of mana9ernenl as to vknere they conSided there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud. and nsideiing the internal controls in place to mitigale risks of fraud and non-compliance wlh 18w5 8nd règulations. To address the risk of fraud through management bias and override of controls, we". performed anatytical procedures lo identfy any unusual or unexpected relationships,. tested journal entries to identify unusual transactions.. assessed whether judgemen15 8nd assumptions made in determining Ihe accounting estimates were indicative ol potential bias, and invg$tigated th& rats"onalè bshind $ignth¢ant or unusual transactK)n$. In response to the risk of irregularibes and non•compliance wilh laws and gUlationS, we designed procedu$ which included, bul were not limited to.. agreeing financial staternent disclosures to undertying supporb'ng documentstion., reading the minutes of meelin9s ol those charged vthh govemance.. enquiring of management as lo actual and potenbal litigation and daim$, and reviewing correspondence wrth HMRC, relevant regulators induding th¢ Health and Sofvty Executlve. and the company's legal advisors. There are inherent limitabons in our audit procedures ebed above. The more removed that laws and regulations are from finanrial tran5action5. the less likety il 15 Ihal we would becorne aware of non-compliance. Auditing standards also limit the audit prlxedures required tts identity non-¢ompli8n¢e with 18W$ and regulations Its enguiry of the ¢Jiredors and other managem¥nt ana the inspeclion of regul810ry and legal ¢orr¥$pondn¢, il any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealmenl or colusion. A lurttter description ol our responsibilibes is available on the Financial Reporting Council's website at.. https.'Il www.frc.org.Uaud1torSre3ponsibil1kneB. Thi5 description lorms part ol our auditorf5 reporl. This report is made solety lo the company s members. as a body. in accordance wilh sectKJn 39101 the Companies Act 2014. Our audit work has been undertaken so that we might slale to the company s members those matters we are required lo slate lo them in an 8udrtorfs report 8nd lor no other purpose. To the fullest extent pemiitted by law. we do not accèpt or assume rèsponsibilrty to anyonè other than the company and the company $ members as a body, for our audit work, for this report, or for the opinions we have fom)ed. SA DSA Prospect Audlt Llmlted Chartered Accountants Statutory Auditor Fitsl Floor 1 Des Roches Square tan Way tney OX28 48E DSA Prospect Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibilty for appointment as audrtor of8 Company under secb'on 1212 of the Companies Act 2006.
INTERNATIONAL POLE AND LINE FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEAIBER 2023 Unrestrlcted Restrlcted lunds funds 2023 2023 Total Unrestrlcted Restrlcted fund8 funds 2022 2022 Total 2023 2022 Notès Income from: Donations and grants receivable Mernbership fees 46,074 372.226 1.118.946 1,165.020 372.226 283,164 388.348 943,304 1.226,468 388.348 Totsl In¢om• 418,3rAJ 1,118,946 1,537.246 671,512 943,304 1.614,816 Charltablè 8Ctlvlll85 312,133 1,014.521 1,326.654 531.986 770,058 1.302,044 Nèt Ineom• 1(É,187 104,425 210.S92 139.526 173.246 312,772 Transfers behyeen funds 157.6481 56.078 11.5701 Net movement In fund 1(6,167 104,425 210,592 81,878 229.324 311,202 R•eonclllatlon ol fund8: Fund balances at 1 January 2023 58,273 2,346 348.619 123.6051 61.022 37,417 Fund bol•n¢¢• ot 31 D•e•mb•r 2023 164,440 394.771 559,211 $6,273 290.346 348,619 l income and expenditure derive from ntinuIng ¥divities.
INTERNATIONAL POLE AND LINE FOUNDATION BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Tangible assets Investments 10 11 8,174 8.585 8,175 Current a8set8 Debtors Cash at bank and in hand 12 370.636 619.632 316.037 348.984 99).268 665.021 Cr•dltors'. amounts falllng du• vAthln one year 13 439.642 324.577 Net current assets 550.626 340.444 Total a8•ets leos current Ilabllllle8 559.211 348.619 The lund8 of the charSty Restricted income lunds Unrestricted funds 14 1S 394.771 164.440 290,346 58,273 559.211 348.619 The company is entitled to the exernption Irom the audrt reqU1ment fAintained in section 477 of (he Companies Act 2006, for the year ended 31 December 2023. amhough an audit has been carried out under section 144 of the Charities Act 2011. Th¥ directors a¢knowl•dgè their responsibilrtres lor ¢omplying with thè requir¥m&nts of th& Compani¥$ Act 2006 wth respect to accounting records and the preparation of finanual statements. The mernbers have not reqUId the company to obtain an audit of its financial statements Under the quirementS of the Companies Act 2006. for the year in quesbon in accordance wth section 476. These fin8ncial 3ts1ements have been prepared in accordance with the provisions applic8ble to companies subject lo the 8m811 wmp8nies regim&. The financial statements were approved by the trustees on ... .. 19-Sep-2024 Mr R H005en (Chairman) Trustee Company registration number 07788763 IEngland and Wales) 10-
INTERNATIONAL POLE AND LINE FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEAIBER 2023 2023 2022 Note$ Cash flows from opèrating aetlvltl•s Cash generated from operations 18 273.557 260.866 Inv•stlng actlvltl•s Purchase of tangible fixed assets {2.909} 12.8521 Net cash used In Investing activitie8 {2.9091 12.8521 Net co¥h us¥d In financlng octlvltl N•t In¢ro310 In ¢a$h and ¢o¥h •qulv•lonts 270.648 258,014 Cash and cash equivalents at beginning of year 348,984 90,970 Cash and ca8h equlval•nts at •nd of y•ar 619.632 348,984
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEAIBER 2023 Aecountlng pollel•s Charfty Snforniatlon Intemational Pole and Line Foundation is a private company limrted by guarantee incorporated in England and Wales. The registered office is CIO Winckworth Sherwood LLP, Cumnor Hill, Oxford. OX2 9GG. The company has no share capital and the liabilty ol each member of a winding up is limited to £1. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 20[ and "Accounting and Reporting by Charities.. Statement of Recornrnended Practice applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The charity 15 8 Public Benefft Entity as defined by FRS 102. Thè fin8noal $t8tèment$ afg prèpared in US ddlars, which is the functional ¢urr•ney ol the ¢h8rity. Monèt8ry amounts in these financial slalements a rounded to the nearest $. The company changed its functional currency from Steding pounds lo US dollars from 1 January 2022 wrth prospective application on comparative figures according to FRS 102. The change was made lo reflect that US dollars is the predominant currency in the company. The financial statements he been prepared under Ihe historical cosl convention. The principal accounting poli¢i¢s adopied ar¢ s&1 out below. 1.2 Golng conc•m Al the time of approving the financial Stalemenls. Ihe trustees h8ve 8 re•sonable expectabon that the Charity has adequatè rÈ$our¢e$ io continue in operaiional exi$ten¢e fof the foreseeablè fulurtt. Thus the Iwstees ¢onlinu¥ lo adopt th$ 90ing ¢on¢sm basb$ of a¢Unn9 in prgparing Ihg financial $tat&m$nls. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the irustees in furtherance of their charitable objectives. Restricted funds are subject to specffic condil¥)ns by donors or grantors as to how Ihey may be used. The purposes and uses of the restricied lunds are set out in the notes to the finanaal statements. Endowment lunds are subject to specthc condrtions by donors that the capital must be maintained by the chanty. 1.4 Incom• Income is recognised when the charity is legalty enlilled to it after any perfomiance conditions have been rnet. the arnount5 can be rneasured reliabty. and rt 15 probable thal income will be received. Cash donations are recognised on receipt. Other donations a recognised once the charty has been nots'fied of the donation. unless perforniance conditions require deferral of the amount. Income tax recoverable in relation to donations receNed under GfftAKI or deeds of covenant is re(nised 8t Ihe time of the don8tion. Legacies are recognised on receipt or olhewse il the charity has been nolified of an irnpending distribution. the amount is known. and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset. 12_
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Accounting policies (Continuedl 1.5 Exp•ndltur• Expenditure is accounted for on an acLruals basis as a liabilty inrTed. Ch8ritsble activities comprise of Ihose costs incurred ty the charity where Ihe prirnary 8im is the delivery of activities and services wthin the objects of the charty. It includes both costs that can be allocated directty tr) such activities and those costs of an indirect nature to necessary to support them. Governance costs include those costs assoaated with meeting Ihe constitLrtKJnal and statutory quirementS of the charity and indude the independent examination fess and cost5 linked to the stralegic management of the charity. All costs are allocated been expendrture categories of the SOFA on a basis designed to reflect the use of the resource. 1.6 Tan9lbl• fix 88$•t• Tangible fixed assets are initialty measured at cosl and subsequently measured at cost or valuation, net of depreraation and any impabrmenl losses. Depreciation is recognised so as to wrile off the CA)St or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings Computers Over the useful life of the asset Over the useful lile ol the asset The gain or loss arising on the di5P05al of an asset is determined a5 the dfflerence befvleen the sale proceeds and the carrying value of the assel. an¢J 15 rewnised in the $18lemenl of financial activrties. 1.7 Flxed a8Ut Investments Fixed asset investments are initially m•asur•d at transactwjn pricè èxduding transactlon costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised In net incomellexpendilurel for the year. Transaction cosls are expensed as incurred. A subsidlary is an ent+ty controlled by the charity. Conlml is the power to 9ovem the finand81 and operating policies of the entity so as to obtain benefits from rts activities. 1.8 Impairnent of fixgd a•¥ets At each reporting end dale, the charity vIewS the carying amounts ol its tangible assets to detemiine whether Ihere is any indication thal Ihose assets have suffered an impairTnent 10s5. If any such indication exists. tre recoverable 8mount ol the assel is esbm81ed in order to (Jetermine the extent of the itnpairment loss lif any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposiis held at call with banks. other short-terrn liquid investments wlh original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown wrthin borrowngs in current liats'lrties. 13-
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Accounting policies (Continuedl 1.10 Flnanelal Instrnm•nts The charity has elected to appty the provisions of Section 11 'Basic Financial Instwments, and Sects'on 12 'Other Finanri81 Instruments Issues. of FRS 102 to all of its financial instruments. Flnancial instruments are recognisefl in the chanty's balance sheet when the chailty becomes party to the contractual provisions of the instrument. Financial assets and liabilitEs are offset. wth the net amounts presented in the financial statements, when there is a legalty enforceable right lo set off the recognised amounts and there is an intention lo settle on a net b8515 or to realise the asset and 5elUe the liability simuhaneou5ty. Basle finanelal •ss•ts Basic financial asset5. whKh indude debtor5 and cash and bank balances. a initially measured at tr8ns8Ction price induding Iransaction costs and are subsequentty carried at 8morty.sed c05t Using the effective interest method unles5 the 8rr8ngemenl wnstilules a finann9 transaction. where the transaction 1$ measured at the present value of the lulure receipls discounl•d at a market rate of interest. Finanaal assets classified as r1Vable within one yeai ale not amortbsed. Baslc flnancial liabilltlos B8sic fin8n¢ial liabilities. indudin9 Creditors and bank 108n$ ao initk?Ily recognised al tr8n$adion pri¢e unl•$$ the arrangement conslilules a finanong transaction. where the debt Inslwment is measured at the present value ol the future payments discounted at a market ratè of inlerest. Finanaal liabilities classified as payable wrthin one year are not amortised. Debt instruments are 8ubsequentty carried at amortl8ed cosl. using the effective interest rate method. Trade ¢re¢Jilor$ a obligations lo pay for 9oc4Js or servi¢*$ Ihal have b¢•n acquirea in the ordinary ¢ours¥ of operations from suppliers. Amounts payable are dassified as current liabilrties if payment is due wthin one year or less. If not, they are presente¢J as non-current liabilitses. Trade credrtors are recognised iniually at transaction price and subsequentty measured at amortised cost using the effectNe interest rnethod. Dorecognition of finonclal liabilities Financial Iiabilrties are derecognised when the charty's contractual obligations expire or are discharged or cancelled. 1.11 Employee benellts The cost of any unused holiday entthment is recognised in the period in which the employee's seNus are received. Terrnination benefits are recognised immediatety as an expense when the charity is demonstrably cornmrtted lo tenninale the employment of an employee or to provKle lewrninatson beneffts. 1.12 R•tir•mènt btnèfits Payments to defined ntributn retiremenl benefft scheffjes are charged as an expense as they fall due. 14_
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 ctIcal accounng •stlmat•s and ludg•mènts In the application of the charity's accouniing policies. the trustees are required to make judgements, estimates and assumpts'ons aboul the carying amount of asseis and liabilrties that are not readily apparent from other source5. The estirnates and as50¢iateil assumptions are based on historical experience and other factor5 that are considered to b8 relevant. Actual reSUS rnay drffei from Ihe5e estimates. The estimates and un¢Jertying assumptions afe reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimale is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. Donatlon8 and grants r•t•lvablè Unre•trlet•d R•strbct•d funds fund• Total unrestn.cted fvnds Restricted funds Total 2023 2023 2023 2022 2022 2022 Grants receivable 48.074 1.118.946 1,165.020 283.184 943,304 1.226,468 Grant8 recelvable for core ac¢lvltle8 Grant income fijrthering charity objectives 46.074 1.118.946 1,185.020 283,164 943,304 1.228,468 46.074 1.118.946 1.165.020 283.164 943.304 1.228.468 Income from charftabl• actlvtt1•8 Unr•Sttte funds 2023 Unr8strlct•d funds 2022 Membership fees 372.226 388.348 15-
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Charltabla aetlvltl•s 2023 2022 Staff and consultant costs Depreciation and Impaimient Project C05ts Travel costs Rent and rates Office costs Bank chargès Insurance Advertising Telephone Profit or loss on foreign exchange Bad and doubttul debt$ 806.465 2,2 335.940 48,207 15,194 13,198 5,223 2.268 10,685 2.051 38,942 12,541 852.652 2,860 313.785 45,098 28,204 18.572 5,934 3.930 23,152 1.589 122,2101 1,293,876 1,271,566 sha ol govemance costs (see note 61 32,978 30,478 1,326,654 1.302,044 Analysls by fund Unrestricted funds Restricted funds 312,133 1.014.521 531,988 770.058 1,326,654 1,302,044 Support cosls Govomancè costs 2023 2022 Accounl8ncy fees Professional fees 7.559 2S,419 7.559 25,419 10.776 19,702 32.978 32.978 30.478 Analysed between Charitable adNities 32,978 32,978 30,478 G0Veman costs includes payments to the audrtors of $7,55912022- $10,776) for audrt fees. Trustees None of the trustees lor any persons nnected with them) received any remuneration during the year, but some trustees weie ieirnbursed Iravelling expenses of $13.406 {2022- $2,843). 16-
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 Employ••s Number ol employees The average monthty number ol employees during the yearwas-. 2023 Numb•r 2022 Number Employment co•t8 2023 2022 Wages and salarl&s SorAal security costs Other pension costs 511,968 9.280 2,683 456,758 13.388 4,243 523,931 474,389 The number of employee$ whose annual remuneration wa$ $80.O)O or moro were.. 2023 Number 2022 Number Over $100,QC4) Tax¥tlon The Charty Is oxempt from tsxalion on Its a¢twitie$ because all its in¢ome 1$ applied for ¢haritable purpos8$. 17_
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 10 Tanglblè (lx ass•ts F[85 and fiWng$ eomputg Totsl Ct At 1 January 2023 Additions Exchange adjustments 7.895 6.700 2,909 378 14.595 2,909 825 447 At 31 December 2023 8.342 9,987 18,329 D•pr•elatlon and Impalmiènt At 1 January 2023 Depreciation charged in the year Exchange adjustments 2.821 1.390 159 3.800 1,572 203 8.421 2,962 362 Al 31 December 2023 4.370 5,375 9,745 Carrylng amount At 31 December 2023 3.972 4.812 8.584 Al 31 December 2022 5.074 3.100 8.174 11 Flxed a88•t Investments Oth•r Inv•8tmonts CoBt or valuatlon At 1 January 2023 & 31 December 2023 Carrylng amount Al 31 December 2023 At 31 Decèmber 2022 2023 2022 Other investmenls comprise.. Notes Investments in Subsl8nes 17 18-
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 12 D•btors 2023 2022 Amounts falllng due wbthSn one year: Trade debtors Other debtors Prep8ymenls 8nd accrued income 239.735 125,726 5.175 225.262 83,287 7.488 370.636 316,037 13 Crgdltor8'. arnounts falllng due wbthln one year 2023 2022 Trade credftors other credrtors Accruals and deferred Incom8 2,366 140.312 296.964 9,562 59.639 255,378 439.642 324,577 14 R••trfet•d lund• The restricted funds of the charity c)mpriSe the unexpended balances of donations and grants held on trust subject to 6pecAfic conditions by donors as to how they may be used. At 1 JJnuary 2023 Incomlng r•sour¢o8 ReJource¥ 1xNdd Tr4n•fvrd At31 Dèeèmbtr 2023 Gr8nl in¢ome fvrthering ¢harty objèctivès 2,346 1,118.946 11,014,5211 394,771 Pr¢viou$ y•r= At 1 January 2022 Incomlny rèsources Re8oureè$ expended Tran$f•rs At31 Dteèmber 2022 Grant incomè furthèring charity objectives 61,022 943.304 1770.058} 56,078 290,346 19-
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 15 Unr•strSetod funds The unrestricted fijnds of the charity comprise the unexpended balances of donations and grants which are not Subject lo specific condition5 by donors and grantors as to how they may be used. These include designated lunds which have been set a5Kle out of unrestri(Xed fvnds by the trustees for specific purposes. At 1 January 2023 Incomlng resources Resources expended Transf•rs At31 December 2023 General fvnds 58,273 418,300 1312,1331 164,440 Pr¢vlou$ y*•r= At 1 January 2022 Ineomlng re8ouree8 Rèsourc•$ expended Tr•n$f• At31 Deeember 2022 General fvnds 123,60SI 671.512 1531.9861 157.6481 58,273 16 Analy818 of n•t a•8•t8 b•tw••n fund• Ttstsl 2023 Total 2022 Fund balances at 31 December 2023 are represented by.. Tangible assets Investments Current assetsllliabilitiesl 8,584 8,174 SSO,626 340,444 559,211 348,619 17 Subsldlarl Detsil$ ol the ¢harity'$ $ub$idiarie$ 8131 December 2023 are as folows.. Nam• of undèrtaking Règi#t•r office Naturn of busin•8• Cla#• of % H•ld share8 held Dlrect Indlrect IPNLF LTD 1 London strèet, Domiant company Reading, Berkshire, RG1 40W Ordinary 100.00 -20-
INTERNATIONAL POLE AND LINE FOUNDATION NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2023 18 Cash g•nèrat•d from op•ratlons 2023 2022 Surplus lor the year 210,592 311,202 Adjustments for.. Foreign èxthange differences DeprecAabon and impairment of langible fixed assets 14631 2.962 2,860 Movements in working capitsl.. Ilncreaselldecrease in debtors Incre8selldecre85el in credrtors 154,5991 115.065 8,856 162,0521 Ca$h g¢n¢rnt•d from opgraiion$ 273.557 260,866 19 Anoly$l# of ch#nge¥ In ngt fund¥ The chanty had no material debt during the year. 21