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2023-12-31-accounts

Annual Report & Consolidated Financial Statements

INTERNEWS EUROPE 31 DECEMBER 2023

Company number: 07891107 Charity number: 1148404

Internews Europe Reference and administrative details For the year ended 31 December 2023

Company number 07891107
Charity number 1148404
Registered office and 13-14 Angel Gate, London, EC1V 2PT
operational address
Trustees Trustees, who are also directors under company law, who served during the
year and up to the date of this report were as follows:
Mr Mark Stephens CBE Chair (Resigned: 8 June 2023)
Mrs Daisy McAndrew Vice-Chair (until 8 June 2023, Resigned 7
December 2023)
Mrs Carolyn Hink Treasurer (until 16 March 2023)
Dr Saleyha Ahsan (Resigned: 14 March 2024)
Miss Sarah Chu (Appointed: 16 April 2024)
Mr Sach Chandaria (Resigned: 21 June 2024)
Ms Freyan Panthaki (Appointed: 16 April 2024)
Mrs Kristina Henschen Vice-Chair (from 8 June 2023)
Mr David Hoffman
Dr Ẹniọlá Ṣóyẹmí (Appointed: 7 December 2023)
Dr Richard Danbury
Mr Wolfgang Blau
Ms Chanpreet Arora
Mr Kevin Delaney (Appointed: 16 March 2023)
Dr Mark Hannam (Appointed: 16 March 2023, and Chair from 8
June 2023)
Mrs Mary Trussell (Appointed: 16 March 2023, and Treasurer from
16 March 2023)
Key Management Ms Meera Selva Chief Executive Officer
Personnel
Mr Brían Kerr Chief Operating Officer
Ms Rosie Parkyn Global Director of Impact
Ms Ann Lomole Senior Finance Director
Ms Jessica McCarthy Director of Global Development
Mrs Claire Page Director of Corporate Engagement
Mr Denis Kovalenko Director of Grants, Contracts & Compliance
Mr Abdurahman Sharif Senior Director of Outreach and Partnerships
(Resigned: March 2024)
Bankers Barclays Bank PLC
27 Soho Square
London
W1D 3QR

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Solicitors Bates, Wells 10 Queen Street Place London EC4R 1BE Auditor Sayer Vincent LLP Chartered accountants and statutory auditors 110 Golden Lane London, EC1Y 0TG

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Foreword

This has been a year of reflection upon our priorities for the next few years, combined with continued growth in our programme activities, and work to improve the effectiveness of our operational capabilities. We have promoted the work of our partners from around the world who seek to create healthy information ecosystems for their communities in the face of significant threats: from the growing impact of the climate crisis; from systematic attempts by governments in some parts of the world to push back again gender equality; and from the disruption and disinformation associated with certain uses of new technology.

Our new strategy – For Your Information -- was finalised during the year and launched in early 2024. We have revised our model of a healthy information ecosystem, which now identifies seven elements that we consider essential for strong, independent media to flourish. In addition, we have reviewed the way in which Internews works to support our partners, making sure that all of our internal operations and processes reflect our values, and that we continually learn and apply lessons from working with our partners to improve the impact of our work. The new strategy covers the period 2024 to 2026 and it provides us with a clear framework with which to set priorities and measure progress.

Mark Hannam, Chair

All the funding bodies with whom we work recognise the importance of healthy local media for economic, social, and cultural progress. We have continued to secure funding from a range of governmental agencies, private foundations, and corporate and individual donors, to support our work. We have strong programmes in partnership with local media organisations across Central Europe, the Middle East, Africa, and Asia. This year our income has grown again, with significant new money from the EU for a range of projects.

Our ability to operate globally, providing a range of financial, technical, and logistical support to our partners, is made possible by our alliance with Meera Selva, CEO Internews US. The sharing of resources, and joint cooperation on a wide range of policy, project design, and operational issues, leverages the impact of both partners. Oversight for these joint activities is provided by an Alliance Committee, which meets regularly to address resource issues and to identify new areas for collaboration. Joint fundraising for our Emergency Fund continues to make steady progress, and there is work in hand to improve the level of our cash reserves, to keep pace with the recent growth in income seen in both organisations.

During the last period, three trustees came to the end of their terms of office. We would like to extend our thanks to Daisy McAndrew, Saleyha Ahsan, and Sach Chandaria for their thoughtful contributions to our work over many years. We welcome Ẹniọlá Ṣóyẹmí, who joined the Board in 2023, and Freyan Panthaki and Sarah Chu, who both joined in 2024.

Mark Hannam, Chair of Trustees Meera Selva, Chief Executive Officer

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The trustees present their report and the audited financial statements for the year ended 31 December 2023. Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities SORP FRS 102.

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Objectives, Activities and Public Benefit

Internews Europe is an international charity whose mission is to empower people worldwide with the trustworthy, high-quality news and information they need to make informed decisions, participate in their communities, and hold power to account.

The primary objective of the Charity as expressed in the Memorandum of Association is “The promotion of education and vocational training in the field of journalism in all its forms for the benefit of the public, in particular in countries experiencing conflict, civil unrest, or natural disaster.”

Internews Europe is led by the CEO who is accountable to the Board of Trustees. Their work is guided by a Governance Policy Statement and Trustee Terms of Reference which set out statutory and discretionary expectations and which incorporate many aspects of the Charity Governance Code. With regards to organisational purpose, leadership and decision-making, risk and control, the Board holds a minimum of three full board meetings per year. At these meetings, they evaluate and assess proposed activities, geographic presence and expansion, funding relationships, refinements to the business model, the organisation’s financial position and impact for partners against the charity’s strategy and purpose. They also review, set, approve, and monitor annual planning goals, objectives and targets for the organisation and assess risks in close consultation with Executive Leadership. The Board Chair meets monthly with the CEO and has delegated authority from the Board to manage their performance, whilst the Finance and Audit Committee meets annually for the Treasurer to review the audit.

On integrity, the Board of Trustees understand their responsibilities for the safeguarding of Internews’ staff, partners, beneficiaries, and other stakeholders engaged in the delivery of the organisation’s charitable objects, as well as promoting the highest standards of business ethics. The CEO has operational responsibility for applying a suite of global ethics policies including business ethics, whistleblowing, non-discrimination and anti-harassment, prevention of abuse and safeguarding and conflict of interest. On board effectiveness, the Board runs regular skills audits to ensure the right mix of experience and expertise is available, and oversees the integration of equality, diversity and inclusion values and principles through Internews’ Belonging, Dignity and Justice initiative, delivered by the People and Culture Team.

Public Benefit

The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set.

Specifically, it is through the provision of our charitable activities that, by way of example:

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Strategic Report

Achievements and Performance

DEMOCRACY, HUMAN RIGHTS AND GOVERNANCE PROJECTS

Historically we are at a critical moment: democracy, basic rights, and freedoms – and those who defend and uphold them – are under threat in ways not seen since the Cold War. This moment requires Internews to intensify our focus and our efforts to bolster independent, public-interest media and support journalists under attack and in exile; increase ethical, non-partisan reporting that enables inclusive and safe participation in elections; and tackle the corrosive effects of corruption on democracy through quality investigative journalism. We do this work in over 100 countries, each of which requires a unique, multi-pronged approach and tools which are drawn from over 40 years of experience in legal reform, digital and operational security, digital rights and internet freedom, media sustainability and basic journalism. Our new strategy, designed in 2023, will reflect this new reality.

In Moldova, Phase II of the Embassy of the Kingdom of the Netherlands funded “Boosting support to Russian-language” project continued to ensure that young people are consuming media critically to make informed choices by expanding media literacy programmes. Also in 2023, Internews continued to enhance the financial sustainability and editorial content of independent media outlets and strengthen the critical thinking of Moldovan vulnerable groups under the Sida-funded project “Media Literacy Advancement and Support to Moldovan Media”. Internews published the first-ever study of Moldova’s local media landscape with an interactive map revealing that of 113 identified local media outlets, only 68 remained active as of July 2023. Our sub-grant and mentoring enabled 11 media outlets to diversify their revenue sources, grow the non-grants revenue share, diversify the media products, improve media content quality, and increase the partners’ community and visibility efforts. A notable result of our work was seen in the fact that the investigative newspaper Ziarul de Garda achieved a record high of 16,878 print subscribers - the highest since the outlet started its print edition 18 years ago. To reflect the new social media developments and changes in the media industry, the project supported the review and update of the Media Education textbook that was utilised to teach the elective course to 1,386 Romanian students, and 375 Russian students. The “Supporting Independent Media and Information Resilience (SIMIR) in Moldova” project, funded by the European Commission, closed in November 2023. The project was an emergency response to the dual challenges posed by the COVID-19 pandemic and Russia’s full-scale invasion of Ukraine, which sparked a period of upheaval in Moldova. Internews provided emergency support to 17 independent media outlets , ensuring uninterrupted content production, and keeping the Moldovan population well-informed about critical matters, including both local and international topics. In addition to this, Internews supported the efforts of six organisations that strengthened the capacities of citizens to navigate and evaluate media information environments through quizzes, interactive games, educational videos, humourist online programmes, and monitoring reports. Finally, the Audiovisual Council of Moldova, a key institution for regulating the information environment in Moldova, was equipped with hardware, IT equipment, security systems, and monitoring software that increased its technical capacity to counter disinformation and regulate the information space in Moldova .

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In Liberia, the Sida-funded project, ‘Improving Citizens’ Access to Public Information through Community Radio Content Syndication in Liberia’ continues to enhance the effectiveness and sustainability of a network of Liberian community radios in serving as a conduit for citizen voices and government response . With Internews' support, the Association of Liberia Community Radios (ALICOR) will set up and operate a multimedia facility for content gathering production, and distribution of high-quality processed radio programmes broadcast through its member radios with nationwide coverage. ALICOR will promote the two-way flow of information (government to people and from people to their government) and serve as the centre for training community radio journalists in basic radio production and broadcasting techniques and skills. Internews will also strengthen ALICOR’s governance, business model, and financial sustainability. Its facility and content syndication mechanism will be strengthened to continue and expand its activities and provide media business support to community radio stations.

In Kenya Internews implemented “Protecting Rights, Openness, Transparency, and Enhancing Civic Transformation, (PROTECT)” an FCDO-funded project. PROTECT, which closed-out in 2023, supported 10 media houses to review and improve their media business viability models , thus promoting their editorial independence through financial sustainability, and trained over 60 journalists in data journalism , to provide a holistic approach of protecting citizens’ rights to access information from independent sources. Through this initiative Internews also supported protection of media freedom and freedom of expression by collaborating with local partners to review and make recommendations for reforming the Kenya Information and Communications Act 1998 (KICA) , and other media laws.

The European Commission funded REVIVE project in Kyrgyzstan has proven to be extremely timely. Since 2022 the threats to freedom of expression, independent media, journalists, and democracy have been increasing, as has the growing influence of foreign information manipulation and interference threats. REVIVE is strengthening independent voices through the delivery of quality information allowing people to make informed decisions and building audiences that are resilient to propaganda and mis- and disinformation. Thanks to REVIVE Internews has also been able to react promptly to the risks and threats faced by local partners, by providing legal, digital and physical security, and psychosocial support . Thanks to the REVIVE project, a new impetus was given to the work of the Media Action Platform in Kyrgyzstan, which brings together more than 80 representatives of independent media, civil society organizations and civic activists . This collaboration made it possible to carry out tremendous advocacy work aimed at protecting journalists, independent media and working with media legislation.

In Country A, the Sida-funded project “Empowering Media Actors” is working with 6 local media outlets to focus on emerging, youth-led and alternative media providing sub-grants, mentoring, Global Tech Hub support, capacity building for women and psycho-social support.

In Country F, our Closed States Programme is running 3 European funded projects . Funded by the European commission, “Supporting Effective Advocacy and Media” supports social, attitudinal and policy integrity towards women, girls and LGBTI+ communities by empowering media and civil actors to deliver high-quality content related to gender and LGBTI+ rights. Funded by the Open Society Foundation, “Supporting Independent Media in Transition” in 2023 worked to ensure the flow of pluralistic, public-interest information in the country, particularly in the context of the 2023 national elections . Empowered Independent Media is funded by the European Endowment for Democracy to strengthen the security, sustainability and resilience of independent media outlets and news agencies in the country through a comprehensive capacity building programme.

Our Sida-funded three year programme in the Democratic Republic of Congo, “Reinforcing Rural Radios” project has continued to support 20 community radio stations to help them better meet the information needs of citizens in rural areas, with a specific focus on strengthening the participation

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of women and girls and young people in public debates. Also in DRC, we have a 15-month project “Protéger la Liberté d'Informer en RDC (Protect Information Freedom in DR Congo - PROLIR) is a 15-month in partnership with Partenariat pour la Protection Intégrée (PPI) and Observatoire de la Liberté de la Presse en Afrique (OLPA), with funding from the Swiss Agency for Development and Cooperation (SDC). PROLIR’s aims include: reinforcing media self-regulatory frameworks; building the capacity of press freedom defenders to monitor press freedom violations and provide legal and financial assistance for journalists during court cases; and building the digital capacity of women journalists.

In Bangladesh, our European Commission “Advancing Local Electoral Reporting (ALERT) drew to an end in 2023 after engaging local and national media journalists across all 68 districts in eight divisions. Leveraging international expertise, Internews empowered independent media, prioritized inclusivity for women, youth, and marginalized groups, and provided digital security training for participant safety. The project also promoted evidence-based journalism standards, boosting journalists' resilience against potential state-sanctioned threats. We also initiated the Journalist Fact-Checking Exchange Network on Facebook to counteract misinformation. This dedicated platform for training participants enables them to exchange tips, dispel rumours, share verified information, and seek advice from both their peers and trainers.

A European Commission funded project to “Improve Access to Quality Information” in Afghanistan had its main implementation year in 2023. It was not without its challenges given the media and civic landscape of the country, but we were able to successfully implement the planned activities and ensure the inclusion of women – both as staff and as voices – and contribute to an increase in the production of news reports, investigative reports, TV segments and special reports addressing the issues of women and girls. We also trained 136 (76 of whom were women) in fact-checking and verification. Also in Afghanistan, The Netherlands Ministry of Foreign Affairs funded “Women in Radio in Afghanistan Project (WRAP)”, a 12-month project to ensure that “Afghan citizens across all provinces have increased access to high-quality, public interest information on radio that amplifies women’s voices”. This project is supporting the radio content production and women radio journalism internships and is specifically focusing on promoting women’s voices/stories on the radio.

Another European Commission funded project began a comprehensive inception phase in 2023 to “Enhance Indo-Pacific Media Resilience in Lao PDR, Malaysia, Philippines, Sri Lanka and Thailand. In close collaboration with the EC delegation, the project has been designed to strengthen media and societal resilience to adapt to disinformation and other issues in the news and information landscape by increasing the capacity of local media and fostering a network of professional journalists for mutual support and exchange of journalistic best practices, factchecking, and tackling disinformation.

To highlight the environmental impacts of inequitable socio-cultural practices in the Mekong River Basin, Internews, with funding from Oxfam, launched “Reporting Mekong Water Governance from a Gender and Social Inclusive Lens” to: strengthen journalists’ capacity to report on GESI aspects of water governance in the Lower Mekong region; and improve the quality of media stories on water governance issues that focus on the experiences of different genders and marginalized groups. The project trained nine journalists through a three-day workshop and supported them to produce in-depth stories through a story grant and mentorship programme.

In the Maldives, the European Commission funded “Protecting Freedom of Expression” project achieved its objective of enhancing democracy and human rights in the Maldives, through promoting and protecting Freedom of Expression (FoE), with a specific focus on media freedom and development. The project faced some challenges, largely owing to the unavailability of journalists due to the Presidential and parliamentary elections, but achieved great success in countering mis/disinformation and fact-checking, with stories published through the three factchecking incubators, gaining higher levels of public interest and far more engagement than regular

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news stories, driving traffic for the media houses’ websites and increasing reach on social media platforms.

In 2023, the Earth Journalism Network wrapped up Phase 2 of our Biodiversity Media Initiative, which over the years has supported over 1,800 journalists in 66 countries, produced over 570 stories and numerous impacts on biodiversity issues. We are happy to say Phase 3 has now begun with funding from Fondation Hans Wilsdorf. Likewise, the Adessium Foundation is supporting the next phase of the Mediterranean Media Initiative, which in 2023 supported numerous ground-breaking investigative reports on marine issues in North Africa and southern Europe, and helped instigate a crackdown on illegal trawling in Tunisia. EJN’s Green Recovery project, funded by the Swedish Postcode Lottery Foundation, supported workshops in Stockholm and Nairobi on issues related to a Just Transition and Indigenous Journalism, respectively, while a large general support grant from the Netherlands Postcode Lottery supported a brand-new yearlong EJN Reporting Fellowship. We continue to collaborate successfully with Internews’ regional Programme Management Units, spearheaded by the Sida-funded EJN Asia-Pacific project, Internews’ largest environmental programme. And in 2023, EJN embarked on several research projects on topics including climate misinformation and the global polycrisis. Our latest landmark study, “Covering The Planet”, included the largest global survey ever of climate and environmental journalists, and its results were covered in The Guardian, among other outlets.

Internews’ health team received funding by the Wellcome Trust to conduct a OneHealth focused fellowship for five journalists from Kenya, Bangladesh, Peru and Brazil to attend COP28 in Dubai in late 2022. The fellows along with Internews Health Team staff travelled to COP28 to cover the first ever health day at the COP, and highlighted key areas around the intersection of health and climate. The fellows received financial assistance as well as day to day mentorship from the Internews Health team to ensure they attended relevant sessions, had access to key experts and had support to navigate the large international conference. This was the first fellowship to COP from the health team and the first award from the Wellcome Trust . The project continued through April 2023 with mentorship and support continuing to ensure high-quality stories from the fellows.

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Financial Review

The detailed results for the year ended 31 December 2023 are set out in the financial statements. The financial statements comply with applicable law, the Memorandum and Articles of Association and 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 (FRS102), effective 1 January 2015.

Total income for the financial year ended 31 December 2023 was £16.5m compared to £17.7m in 2022, a decrease of 7%. Total expenditure was £19.0m compared to £17.1m in 2022.

This is indicative of our ability to continue to maximise expenditure of restricted funds following a return to normalised activity levels post pandemic. Revenue forecasts for 2024 indicate the potential for incremental growth in the year.

Reserves Policy

The Board of Trustees reviews the reserves policy on an annual basis. The current minimum target, as reviewed and determined by the Trustees is in the range £700k-£800k equating to approximately three months of overhead operating expenditure.

On 31st December 2023 our unrestricted group reserves showed £40k compared to £65k at the end of 2022. Free reserves, general reserves less fixed assets held, showed a deficit of £21k compared to a deficit of £32k in 2022.

The organisation continues to work towards achieving its reserves target and a new Revenue Strategy is part of the new strategic framework for the period 2024-26. This strategy includes a focused approach on securing unrestricted funding from trusts and

foundations and corporate donors, as well as fully recovering eligible costs on restricted donor funds.

Significant Events

Rapidly closing civic space

A number of the countries in which Internews has been operating for a significant number of years continue to experience severe political turbulence, most notably in Ukraine where we had to evacuate staff and provide crisis support for partners who found themselves operating in wartime conditions. Staff are now returning to Ukraine, but we continue to monitor the situation and can react quickly should conditions worsen again.

External Events

Internews led the Media Freedom Cohort as part of the 2nd Summit for Democracy. We also engaged with a deep exploration of media freedom issues through the official 30 March event by Summit cohost The Netherlands and numerous side events in The Hague and Washington, DC. We highlighted the importance of media freedom in other cohort themes, including anticorruption, youth, elections, and technology, with panels at official events by Summit cohost Zambia and in Washington, DC. Internews also participated at the 31[st] Lorenzo Natali Media Prize EU Partnerships event and signed the first Framework Partnership Agreement of its kind to support independent media worldwide.

Principal funding sources

The majority of our income is derived from public donor agencies supporting international development projects. New awards in this category for 2023 comprised 77% of total awards, a reduction from 82% in 2022. This is reflective of our income diversification strategy resulting in 23% of

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total awards coming from Institutional Foundations in 2023.

Going Concern Review

No material uncertainties that may cause significant doubt about the ability of the charity to continue as a going concern have been identified by the Trustees. The Trustees consider it appropriate to prepare the accounts on the going concern basis.

Processes of monthly and 12 month rolling forecasts of income and expenditure, including cash management procedures, have ensured the charity maintains strong liquidity with forecasts showing a further strengthened position over the coming 12 months.

Internews continues to further its efforts in pursuing a targeted donor diversification. Our revenue strategy for 2024-26 includes considered measures to promote growing our unrestricted reserves towards the target set by the Trustees.

Our improved financial management structure and supporting processes position us more effectively to deal with our internal reporting and financial monitoring to ensure that the legacy challenges that have emerged previously can be mitigated.

Fundraising Regulation

All Internews fundraising activities are managed in house. Our Development Department manages relationships with governmental, multilateral and NGO donors whilst the Philanthropy Department is responsible for fundraising from individual supporters, private foundations, and corporations.

Internews Europe is registered with the Fundraising Regulator. There were no complaints received during the year and, likewise, no-incidents of non-compliance with the applicable code.

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Risk Management

Internews Europe adopts a rigorous approach to risk management which allows the Trustees and Senior Management Team to take a contemporaneous and informed view of the organisation’s risk tolerance level.

The Trustees actively review the major risks to which the charity is exposed to ensure that systems are in place to monitor and mitigate those risks. A review of the strategic risk register takes place during all scheduled Trustee Board meetings. The Trustees also determine which areas of risk they wish to review in detail on a standing basis, irrespective of the risk ratings.

Senior managers take operational responsibility for risk mitigation in all areas; for example, by ensuring appropriate internal controls and policies are in place whilst regularly monitoring risks from the external operating environment. Specifically, the management group receives information via a more detailed programme portfolio risk register which identifies specific risks and actions required down to the level of each individual project. In turn, this information feeds the overall strategic risk register as reviewed by the Trustees.

The Trustees believe these actions provide sufficient early warning systems, and the requisite controls and procedures in the event of adverse conditions.

Principal Risks and Uncertainties

Global Economic Instability and Financial Risk: the fundraising environment remains challenging for many organisations and will continue to be in the current global economic environment.

Investment in increased external outreach, through collaboration with our Alliance-wide External Affairs team enables us to identify

potential new sources of support in future, and constant improvement and innovation to our tools and methodologies in response to the needs and realities of our partners enables us to stay competitive.

Our focus and approach to our projects give our development team a compelling funding preposition to take to both potential donors and our generous existing donors. In addition, Internews continues to focus intensively on a donor diversification strategy to mitigate risks.

Global shocks: Internews continues to work hard in response to the changing geo-political landscape that has continued to unfold around the globe over the last 12 months. We have been highly effective in influencing funder strategies in response, swiftly mobilising resources to increase the digital and operational security of our partners through the provision of specialist expertise and equipment which ensures they are able to continue reporting and setting up humanitarian information operations to support the broader population.

The ongoing conflict in Eastern Europe has meant donors have continued to support and sought out guidance on media and information dynamics in the region. The importance of supporting high quality, accurate information about the conflict is well recognised. Internews has been effective at reinforcing this message across the fora in which we are involved.

Operational Security: There are inherent risks to working in fragile states, those vulnerable to disasters, or countries in the midst of very volatile security environments. As has been seen over the last year, these risks continue to impact all regions of the world. The Trustees periodically and carefully review the organisation’s ability to continue to operate programmes in high-risk

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environments, and in areas that could be facing shifting security environments, to ensure that we have well developed procedures and protocols for working in such environments. These include a wellestablished and prepared emergency management structure shared with our allied entity in the US, involving a Global Security Policy, robust travel policy and journey management programme and reserves available for emergencies.

These procedures are managed and overseen by the Field Operations and Security team. This team monitors the security situation for all of Internews’ incountry operations around the world to routinely assess for potential risks to personnel, our office, operating locations, posture, and more. The team has significant experience developing business continuity plans for environments at risk of undergoing volatile security situations or shifting landscapes. The Trustees are of the view that maintaining such resources and operational capacity is essential for the organisation to achieve its charitable purposes.

Digital Security: The risk of a cybersecurity attack is ever-present and could result in harm to our staff and partners, pose reputational risk, cause financial harm, create legal liabilities, and affect our ability to operate.

Internews employs next-generation antivirus and endpoint protection software across all devices that connect to our system. Our policies and procedures are regularly reviewed in annual external cybersecurity assessment and our systems undergo yearly penetration testing. Internews’ comprehensive set of end-user and internal control policies cover data privacy, privileged access, data storage and retention, account access controls, vendor risk assessment, business continuity, and more.

years. As such, Internews will continue to focus on and invest in a best-in-class cybersecurity program and capabilities. Our programme will be critical in proactively protecting data while maintaining compliance with best practice and regulatory requirements. Ensuring that the security programme is effectively maintained and adaptable will aid in mitigating potential risks to Internews and assure that the organisation can respond to any incidents quickly.

The Trustees are of the view that maintaining such resources and operational capacity is essential for the organisation to achieve its charitable purposes.

Hostile Environment for Media Partners and Support to Media: worldwide the

number of journalists killed or attacked in the course of their duties continues to remain high. Established norms that protect the fundamental principles of free expression, and the role of media as a fourth pillar of democracy face increasing hostility in many societies. These trends underscore the global need for Internews’ work, but also require increasingly careful assessment of risks to partners involved, as well as creativity in responding to attendant challenges such as the inability to move money. Such assessments and adaptations go on to form the method of operation for individual projects, in such a way that impact can still be achieved whilst preserving partner safety and security.

Maintaining Strategic Relevance: Media is a volatile and rapidly changing field. To maintain our reputation and success requires ongoing innovation and adaptation. There are many new and nimble competitors in the field with the increasing attention on mis/disinformation. We mitigate this by reviewing and setting annual strategic priorities in this area with investment in technical expertise and strategic partnership initiatives.

The risk and frequency of breaches and incidents has increased significantly in recent

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Safeguarding and Serious Incidents

During the year, Internews continued to step up its efforts in ensuring high standards of safeguarding, monitoring, and training of all relevant persons across the globe in line with the Code of Conduct set out in its Governance Policy. This strengthened by a suite of polices in six languages. These include policies on:

The charity maintains its zero-tolerance policy towards abuse or other forms of serious misconduct and sets clear standards and expectations around representatives’ behaviour in our international Code of Conduct. Internews’ downstream partners are required to give specific assurances that they have their own safeguarding frameworks, consistent with Internews’ standards.

within our reporting mechanisms. Internews offers various points of internal incident reporting for all UK and international representatives, in addition to an external, multi-lingual reporting and whistleblowing ‘hotline’ operated by Lighthouse Services.

The Trustees are alive to their obligations to report the most serious misconduct or abuse to relevant authorities in the United Kingdom and other countries of operation, in particular the formal requirements for Serious Incident Reporting to the Charity Commission for England and Wales. This obligation is understood across the broader definitions of Serious Incidents in which the Commission would have an interest.

One Serious Incident Notification was made to the Commission during the period covered by this report. The Charity Commission was satisfied that the Trustees had dealt with the matter appropriately and responsibly.

All reported cases have been closed by the Charities Commission and donors respectively, following in-depth reviews and investigations.

All employees and other representatives are required to take part in both induction and recurring annual training on safeguarding and associated policies and controls (through webinars, face to face discussions and consultations). Internews continues to refer to its Safeguarding Framework intended to provide absolute clarity of incident management, simplicity, and accessibility

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Plans

2023 was the fourth year of implementation of the Internews Alliance five-year strategic framework: Internews 2025. Internews 2025 has the following goal:

Over the next five years, as the next 3 billion people come online, we will join with allies who share our vision, including journalists and technologists, data scientists and legal specialists, as well as artists, advocates, and storytellers. Together, we will build healthy information environments in more than 100 countries across the globe.

The joint focus for Internews Europe (IEU) and the Internews Network (IUS) in 2023 was to drive continued organisational resilience, good progress was made on three overarching goals: Building on our core organisational strengths, strengthening our ability to deliver the five elements of a healthy information environment, and building a more resilient organisation. These overarching goals were broken down into 5 key operational priorities for Internews Europe to deliver on, progress on which is reported below.

Along with the specific overarching goals reported below, the decision was made to reopen our longterm strategy with an eye towards a refresh and shift to a new three-year timeframe that utilizes a more comprehensive strategy framework. The work emphasized changes in the external landscape of our work, both from a mission perspective as well as a market, funder, and competitor perspective.

Detailed Report Annual Plan 2023

1. Expand our Global Impact.

Focus on Democracy Programming : Building from progress in 2022, we continued to focus on deepening our programme approach and thought leadership around our core democracy work.

Our biggest accomplishment toward meeting this goal was in our first quarter with our leadership of the Media Freedom Cohort as part of the 2nd Summit for Democracy. We also engaged with a deep exploration of media freedom issues through the official 30 March event by Summit co-host The Netherlands and numerous side events in The Hague and Washington, DC. We highlighted the importance of media freedom in other cohort themes, including anti-corruption, youth, elections, and technology, with panels at official events by Summit co-host Zambia and in Washington, DC. And perhaps most importantly, we ensured the continuation of our efforts through the Media Freedom Coalition (MFC) which will take the Cohort’s work forward to ensure sustained action around our efforts.

Open our Climate Focus : Building from our success with our democracy programming, we pivoted to launch a similar review and refresh of our climate and environmental programming, given the urgency of this work in the world and as we approached our 20th anniversary of our signature program, the Earth Journalism Network (EJN) in 2024. In 2023, we had some important development successes, including a EUR500,000 award from the Dutch Postcode Lottery for EJN general support and renewed funding of roughly $6million from Swedish Sida for three more years of the EJN Asia-Pacific project.

2. Enhance our Organisational Resiliency.

Develop New Three-Year Strategic Framework : We reopened our long-term strategy and spent 2023 collaborating across the organisation to design a more agile and comprehensive strategy to cover the 2024-2026 time period. The design process involved an in-depth survey, mid-year workshops with participation of over 700 staff, board members and partners, 13 deep dive research papers, and internal

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and external validation sessions to ensure we, as an organisation, are able to meet the challenges of this moment in time with innovation and tenacity.

Through this process we redesigned our Elements of a Healthy Information Ecosystem from 5 elements to 7 elements. Information ecosystems include the supply side of a media landscape, such as infrastructure, the regulatory environment, production and dissemination tools, content, producers, and consumer data. Information ecosystems also recognize the demand side, or human behaviour side, of the ecosystem: how people access, trust, source, share, and value information. In our new strategy, we identified 7 key elements that together define the health of any information ecosystem. These elements underpin our theory of change, program design, and thought leadership.

In order to meet our strategic objectives we have designed 5 Pillars which objectives sit under. Pillar’s 1- 3 are mission-based outcomes, while Pillar’s 4-5 are organisational outcomes. Key Performance Indicators and Key Financial Indicators are being developed to monitor, track and report on our progress against our strategic objectives. FYI: Internews Strategy 2024-2026 was officially launched in March 2024.

3. Grow our Funding Capacity.

Create a Revenue Strategy : We spent 2023 building our first ever revenue strategy, which will guide our prioritisation of types of revenue to best advance our mission as a fundamental pillar of our strategy. We formed a joint-board revenue strategy committee to forward this work and are near completion.

Enhance EU Eligibility : Revenue diversification is a key part of the Internews alliance strategy and Europe remains our single most important market for such diversification. We are strengthening our presence within the European Union, by developing Internews International in Paris as an entity that will have access to a wider range of EU funding than Internews Europe has access to, due to Brexit, and we have worked closely with the Alliance Committee to build this out. We have also strengthened relations with the European Union through events, meetings and outreach both in Brussels and at country level. We signed a Framework Partnership Agreement, the first of its kind, with the European Union, to support independent media worldwide and have won an unprecedented number of open calls for funding too.

4. Transform our Business Operations.

Advance Alliance Transformation priorities : We have continued to advance the multi-year Alliance Transformation initiative that has been underway since mid-2021. We are developing a resource and cost allocation model to further improve the independence and compliance across the two legal entities, with the results reviewed by the Alliance Committee. We are continuing to analyse and strengthen the Alliance accounting and finance functions by simplifying Alliance accounting policies and practices, including the reconciliation of inter-company accounts.

5. Strengthen our People & Culture.

Complete implementation of job architecture and compensation benchmarking to include international staff : Phase 1 (HQ-based job architecture and compensation

benchmarking) was completed and rolled out in Q1 2023. We are currently completing its implementation to further solidify job positioning and performance-based compensation levels for impacted staff. Simultaneously, we have begun the planning for Phase 2 of this work to include our international staff, with implementation and roll-out expected in 2024.

This will enable greater consistency, equity, and market competitiveness with respect to job bands, compensation, and pay-for-performance principles across the Alliance.

Align core values, BDJ, and culture attributes : A key component of our long-term strategy includes the alignment of our core values, Belonging, Dignity, and Justice principles, and our desired culture attributes with the organisation’s mission, vision, and strategy. To that end, and with the feedback solicited from our staff through a series of strategy workshops, we have

17 | Internews Europe Annual Report and Financial Statements 2023

compiled, analysed, and updated our existing core values and BDJ principles. Pillar 4 of our new strategy focused on this work of having a People-Centred organisational culture where our people can thrive.

18 | Internews Europe Annual Report and Financial Statements 2023

Structure, Governance and Management

Internews Europe is a charitable company limited by guarantee, incorporated in England and Wales on 23 December 2011 and registered as a charity in England and Wales on 1 August 2012.

The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its articles of association.

The primary objective of the charity as expressed in the Memorandum of Association is "The promotion of education and vocational training in the field of journalism in all its forms for the benefit of the public, in particular in countries experiencing conflict, civil unrest, or natural disaster."

The Trustees and Executive seek to fulfil these objectives through establishing projects in a wide range of countries which focus on media development and information access around several core themes: Democracy, Human Rights & Governance, Humanitarian Information, Health, and the Environment.

The Trustees are responsible for the overall governance of the charity. The Board has constituted a committee for Finance & Audit, and another for Risk & Governance, both of which meet at least twice each year. These committees, review financial reports, annual audits and other risk matters, making recommendations to the main Board as deemed appropriate.

All Trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in Note 6 to the accounts. Many Trustees donate travel and other expenses associated with their governance duties.

Group Subsidiaries

Internews International (France)

Since 2018 Internews Europe has had effective overall control of the French NonProfit Association Internews International (RNA no. W751139592, SIRET no. 425 132 347 000 13 APE 921).

Internews International ended 2023 with a surplus of £316,931 (FRS102).

Internews Media Development Company (Republic of Ireland)

In addition to the above, Internews Europe registered a subsidiary non-profit company in the Republic of Ireland in 2017 (no. 615323). This entity remains dormant on the Irish company register and no further disclosures are required.

Trustee Appointment, Induction and Training

Trustees are proactively selected and appointed to ensure there is a broad range of relevant skills and experience represented across the Trustee Board. Trustee recruitment may take place using open advertisements and/or through more targeted approaches to individuals, agreed by existing Trustees to possess skills and experience that would further strengthen the board. A Trustee Board skills matrix is regularly reviewed to ensure a suitable balance of skills, experience, and Trustee diversity. A comprehensive policy exists for the appointment and approval of new Trustees, in addition to processes for the election of officers such as the Chair, Vice-Chair and Treasurer.

19 | Internews Europe Annual Report and Financial Statements 2023

A rolling cycle of training and development of Trustees ensures there are cognizant of their statutory responsibilities and keep up to date on key issues such as development and relief work in addition to exposure to Internews Europe's international programmes.

As part of our Strategic Alliance with Internews Network (see Related Parties, below), the board of our US sister organisation is entitled to select and appoint one of its own members as a Trustee to serve on the Internews Europe Board. This role is currently fulfilled by Mr Kevin Delaney. This is a reciprocal arrangement; therefore, Internews Europe’s Trustees also have an entitlement to select one of their number to serve on Internews Network’s Board of Directors. This role is currently undertaken by Ms Chanpreet Arora.

Organisation of the Charity

Internews Europe's operations are conducted in accordance with the Memorandum and Articles of Association and the policies/strategies approved by the Trustees. Given the international scale and complexity of the organisation, the Trustees delegate all day-to-day responsibilities for running the organisation to the Chief Executive Officer (CEO).

The CEO is supported by the Senior Management Team (SMT, consisting of Key Management Personnel) namely Ms Ann Lomole , Senior Finance Director, Mr Abdurahman Sharif , Senior Director of Outreach and Partnerships who departed the company in March 2024, Mrs Claire Page , Director of Corporate Engagement, Mr Denis Kovalenko , Director of Grants, Contracts & Compliance, Ms Rosie Parkyn, Global Director of Impact, Ms Melody Patry, Senior Director Technology, Media and Democracy who departed the company in August 2023, Ms Jessica McCarthy , Director of Global Development, and Mr Brían Kerr, Chief

Operating Officer who joined the company in April 2023.

In addition, a larger Corporate Management Group takes responsibility for various operational and support functions. Field programmes are overseen by a range of Regional Directors, Country Directors, and other national support staff.

Related Parties and Relationships with Other Organisations

Internews Network (USA)

Internews Europe operates in a Strategic Alliance with Internews Network; a US based non-profit organisation which was the first media development organisation to bear the Internews name and brand. A Memorandum of Understanding to establish a strategic alliance was signed by the Boards of both entities in September 2014. This was subsequently reinforced with a legalised, Strategic Alliance Agreement signed in June 2016.

Through their Alliance, Internews Network (IUS or Internews US) and Internews Europe (IEU) express their joint commitment and intent to create greater programme impact and public benefit than two separate organisations would be able to achieve on their own. The Alliance is particularly intended to ensure seamless delivery of programmes through regional and country offices, and greater sharing and application of effective organisational learning.

The Alliance has shared responsibility for six regional Programme Management Units (PMUs) which, under the leadership of their associated Regional Directors are accountable to both entities for the successful implementation of a diverse body of projects and programmes jointly funded by the Alliance. Given the nature of this arrangement, there are a significant amount of Inter-Alliance financial transactions over the course of the year, which ensure each

20 | Internews Europe Annual Report and Financial Statements 2023

field office is equipped with the resources to deliver a blended portfolio of projects and programmes.

Nevertheless, IEU and IUS purposefully maintain separate, independent, governance bodies and each legal entity has its own CEO.

CDAC Network (Limited) (UK)

Internews Europe continues to maintain its membership of the “Communicating with Disaster Affected Communities (CDAC) Network”.

Remuneration Policy and Salary Disclosures for Key Management Personnel

The Trustee Board takes responsibility for the appointment and performance management of the Chief Executive Officer. This includes an annual review of the CEO’s pay and benefits which, in turn, is linked to a detailed and rigorously benchmarked organisational salary scale.

All salary bands are reviewed periodically, both for sector benchmarking and any inflationary increments deemed appropriate and affordable for the overall pay-scale. During annual benchmarking of the organisational salary scale, Internews Europe compares its pay bands for all positions to equivalent posts in the following areas:

The Internews Alliance is among the two or three largest organisations working in the media, information, and development subsector. Given this scale and complexity, and the need to recruit and retain skilled staff with an unusual blend of experience in both media and international development, our salary scale is set in the middle of the upper quartile of our benchmarking results.

Details of salaries and benefits can be found in Note 6 to the financial statements.

Funds Held as Custodian Trustee

During 2023 there were no funds held as custodian Trustee on behalf of others.

Statement Of Trustee’s Roles and Responsibilities

The Trustees (who are also directors of Internews Europe for the purposes 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 state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

21 | Internews Europe Annual Report and Financial Statements 2023

make judgements and estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subjecl to any material departures disclosed and explained in the financial statements-, and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. there is no relevant audit information of which the charitable company's auditors are unaware,. and the Truslees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of thal information. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's websfte. Legislation in the United Kingdom governing the preparation and disseminalion of financial statements may differ from legislation in other jurisdictions. Members oflhe chartty guarantee to contribute an amount not exceeding £10 to the assels of the charity in the event of winding up. The lolal number of such guarantees on 31 December 2023 was 12 12022.. 13). The Trustees are members of the charity, but this enlrtles them only to voting rights. The Trustees have no beneficial interest in the charity. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregulartties. In so far as the Trustees are aware.. Auditors Sayer Vincent LLP were re-appointed as the charitable company's auditors during the year. Approved by the Trustees on 25 July 2024 and signed on their behalf by.. Mark Hannam, Chair of Trustees 221 Intemews Europe Annual Report and Financial Statsments 2023

Independent Auditor’s Report

Opinion

We have audited the financial statements of Internews Europe (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2023 which comprise the consolidated statement of financial activities, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the group financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Internews Europe's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

Internews Europe Independent Auditor’s Report 2023 | 23

Other Information

The other information comprises the information included in the trustees’ annual report, including the strategic report, other than the group financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other information, and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the group financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the group financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ annual report, including the strategic report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees’ responsibilities set out in the Trustees’ annual report, the Trustees (who are also the directors of the parent charitable company for the purposes 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 internal control as the Trustees determine

Internews Europe Independent Auditor’s Report 2022 | 24

is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those Acts.

Our objectives are to 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 (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Capability of the audit in detecting irregularities

Internews Europe Independent Auditor’s Report 2023 | 25

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

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities . 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 and section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. 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.

Noelia Serrano (Senior statutory auditor)

DATE 22 August 2024

for and on behalf of Sayer Vincent LLP, Statutory Auditor

110 Golden Lane, LONDON, EC1Y 0TG

Sayer Vincent LLP is eligible to act as auditor in terms of section 1212 of the Companies Act 2006.

Internews Europe Independent Auditor’s Report 2023 | 26

Internews Europe

Consolildated statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 December 2023

Unrestricted
Restricted
£
£
Income from:
2
90,812
-
3
2,597,900
11,548,982
3
292,219
1,819,475
3
19,612
122,111
3,000,543
13,490,568
4
478,181
-
4
2,088,574
13,615,224
4
384,823
2,184,778
4
42,882
210,517
2,994,460
16,010,519
(31,253)
31,253
(25,170)
(2,488,698)
Reconciliation of funds:
15
65,499
6,724,574
40,329
4,235,876
Note
Donations and legacies
Charitable activities
Democracy, Governance & Human Rights
Humanitarian
Environment
Humanitarian
Expenditure on:
Raising funds
Charitable activities
Democracy, Governance & Human Rights
Environment
Total income
5
6,083
(2,519,951)
Total funds brought forward
Total funds carried forward
Total expenditure
Net(expenditure)/income
Transfer between funds
Net(expenditure)/income
and net movement in funds		 2023
Total
£
90,812
14,146,882
2,111,694
141,723
16,491,111
(1)
478,181
15,703,798
2,569,601
253,399
19,004,979
-
-
(2,513,868)
6,790,073
4,276,205
(2,513,868)		 Unrestricted
£
455,465
1,582,668
204,059
7,128
2,249,320
410,817
1,105,399
231,617
11,303
1,759,136
(598,719)
(108,535)
174,034
65,499
490,184		 Restricted
£
-
13,482,299
1,990,605
69,538
15,542,442
-
12,822,425
2,441,168
45,566
15,309,159
598,719
832,002
5,892,572
6,724,574
233,283		 2022
Total
£
455,465
15,064,967
2,194,664
76,666
17,791,762
410,817
13,927,824
2,672,785
56,869
17,068,295
-
723,466
723,466
6,066,606
6,790,073

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements

Internews Europe Annual Report and Financial Statements 2023 | 27

Internews Europe Annual Report and Financial Statements 2023| 28

Internews Europe

Statement of cash flows

For the year ended 31 December 2023

For the year ended 31 December 2023
Note
16
Cash flows from investing activities
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Cash flows from operating activities
Purchase of tangible fixed assets
Cash and cash equivalents at the beginning of the year		 2023
£
(2,299,420)
(8,548)		 2022
£
(478,339)
(36,911)
(2,307,968)
5,471,805		 (515,248)
5,987,054
3,163,837 5,471,805

Internews Europe Annual Report and Financial Statements 2023 | 29

Internews Europe Notes to the financial statements For the year ended 31 December 2023 1 Accounting policies a) Statutory information Internews Europe is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address (and principal place of business), is Second Floor, 13-14 Angel Gate, London, EC1V 2PT. IInternews Europe has effective control of two additional entities, the French Non-Profit Association Internews International (RNA no. W751139592, SIRET no. 425 132 347 000 21 APE 913), and an Ireland based entity Internews Media Development Company (A Company Limited by Guarantee) registered in Ireland (company number 615323). Internews Europe remains the parent company, with Internews France and Ireland as subsidiaries and a requirement to consolidate the reports of both Internews Europe and Internews International. Internews Media Development Company remained dormant in 2023. b) Basis of preparation The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. These financial statements consolidate the results of the charitable company and its wholly-owned subsidiary Internews International on a line by line basis. Transactions and balances between the charitable company and its subsidiary have been eliminated from the consolidated financial statements. Balances between the two companies are disclosed in the notes of the charitable company's balance sheet. A separate statement of financial activities, or income and expenditure account, for the charitable company itself is not presented because the charitable company has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006. c) Public benefit entity The charitable company meets the definition of a public benefit entity under FRS 102. d) Going concern Internews Europe opened in 2023 with an Unrestricted Fund surplus of £65,499. The Charity's in-year deficit for 2023 resulted in a carried forward unrestricted surplus to 2024 of £40,329 Internews Europe is developing a revised Revenue Strategy for the period 2024-25 with the purpose of increasing unrestricted funds, growing reserves and the diversification of funding remaining key priorities. No material uncertainties that may cause significant doubt about the ability of the charity to continue as a going concern have been identified by the Trustees. The Trustees consider it appropriate to prepare the accounts on the going concern basis. In the view of the trustees, there are no other material uncertainties and so they continue to consider IEU to be a going concern. e) Income Income is recognised in the statement of financial activities (SoFA) when a transaction or other event results in an increase in the charity’s assets or a reduction in its liabilities. Income must only be recognised in the accounts of a charity when all of the following criteria are met. • Entitlement – control over the rights or other access to the economic benefit has passed to the charity. • Probability – it is more likely than not that the economic benefits associated with the transaction or gift will flow to the charity. • Measurement – the monetary value or amount of the income can be measured reliably, and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably. 1 Accounting policies (continued) f) Donations of gifts, services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102). On receipt, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. g) Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes. h) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering activities undertaken to further the purposes of the charity and their associated support costs. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. i) Allocation of support costs Resources expended are allocated to the particular activity where the cost relates directly to that activity. The cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned to the charity's activities on a proportionate and consistent basis. Governance costs are the costs associated with the governance arrangements of the charity. These costs relate to constitutional and statutory requirements and include any costs associated with the strategic management of the charity's activities. We have apportioned Support costs to the activities as follows: Democracy and governance 81% Environment 17% Humanitarian 2% j) Foreign currency transactions Transactions in foreign currencies are translated at the Oanda rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate prevailing at the balance sheet date. Any gain or loss for the period is taken to the statement of financial activities.

Internews Europe Annual Report and Financial Statements 2023| 30

Internews Europe Notes to the financial statements

For the year ended 31 December 2023

1 Accounting policies (continued)

k) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Furniture and other equipment directly related to projects are fully expensed to such projects so as to reflect the full costs of implementation. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Office equipment and computers 3 years

Office furniture 5 years Fixtures & fittings Life of office lease

m) Debtors Debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid.

Advanced payments to partners are recognised as prepayments until expenditure incurs.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

o) Creditors

Creditors are recognised as soon as there is a legal or constructive obligation committing the charity to pay out the resource.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

p) Pensions

Internews Europe maintains a pension scheme where staff are auto-enrolled accordingly. Both Internews Europe and employees make contributions into the scheme in compliance with regulatory requirements.

2 Income from donations

Income from donations
2023 2023 2023 2022 2022 2022
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Donations 39,512 - 39,512 455,465 - 455,465
Gifts/Services in kind 51,300 - 51,300 - - -
90,812 - 90,812 455,465 - 455,465
The unrestricted donations represent monies received from individuals and foundations. Gifts/Services in-kind are in relation to pro-bono legal support on various tasks and assignments undertaken throughout the
year.
Income from charitable activities
2023 2023 2023 2022 2022 2022
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Sigrid Trust 302,830 302,830 200,000 - 200,000
The European Endowment for Democracy (EED) 86,680 86,680 - - -
European Commission - 4,766,221 4,766,221 - 6,437,065 6,437,065
BBC Global Service - - - - 10,000 10,000
Swedish International Development Cooperation Agency - 5,094,707 5,094,707 - 4,606,439 4,606,439
Norwegian Agency for Development Cooperation - - - - 5,337 5,337
Foreign, Commonwealth and Development Office - 285,482 285,482 - 397,789 397,789
Resource sharing agreements 1,854,840 - 1,854,840 1,382,668 - 1,382,668
Belgian Department for Foreign Affairs, Foreign Trade and Development Cooperation - - - - 206,606 206,606
Netherlands Ministry of Foreign Affairs (NMFA) - 204,062 204,062 - 244,829 244,829
ACTED - - - - 237,552 237,552
Embassy of the Kingdom of the Netherlands - 112,024 112,024 - 50,698 50,698
Swiss Ministry of Foreign Affairs - 333,973 333,973 - 639,623 639,623
Internews Network - 31,601 31,601 - 8,888 8,888
Open Society Foundation - 159,674 159,674 - 175,850 175,850
Deutsche Gesellschaft für Internationale Zusammenarbeit - 394,987 394,987 - 338,358 338,358
- -
Search for Common Ground - (4,806) (4,806) - 123,264 123,264
BBC Media Action - 84,377 84,377 - - -
Nationale Postcode loterij N.V 440,230 440,230 - - -
Sub-total for Democracy, Human Rights & Governance 2,597,900 11,548,982 14,146,882 1,582,668 13,482,299 15,064,967

3 Income from charitable activities

Internews Europe Annual Report and Financial Statements 2023| 31

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

3
Arcadia Fund
Swedish International Development Cooperation Agency
Calouste Gulbenkian Foundation
Swedish Postcode Lottery Foundation
The Commonwealth Foundation
Adessium Foundation
Robert Bosch Stiftung
OXFAM Novib (Netherlands)
European Climate Foundation
Tara Foundation
Omega
Bertarelli Foundation
Resource sharing agreements
Communicating with Disaster Affected Communities Network
Swedish International Development Corporation Agency (SIDA)
World Health Organisation
UNHCR
European Commission
Danish Refugee Council
United Nations World Food Programme
Total income from charitable activities
Sub-total for Environment & Economic Development
Sub-total for Humanitarian & Health
Income from charitable activities (continued)
Mercury Phoenix Trust
Resource sharing agreements		 2023
£
-
-
-
292,219
-
-
-
-
-
-
-
-
-
292,219
2023
Unrestricted
£
19,612
-
-
-
-
-
-
-
-
19,612
3,000,543
Unrestricted		 2023
£
-
1,345,840
62,975
3,800
141,916
(241)
48,213
122,035
61,838
20,795
12,304
1,819,475
2023
£
-
-
(64,311)
-
20,153
(8,111)
73,000
101,380
-
122,111
Restricted
Restricted		 2023
2022
Total
Unrestricted
£
£
-
-
1,345,840
-
-
-
292,219
204,059
62,975
-
3,800
-
141,916
-
(241)
-
48,213
-
122,035
-
61,838
-
20,795
-
12,304
-
2,111,694
204,059
2023
2022
Total
Unrestricted
£
£
19,612
7,128
-
-
(64,311)
-
-
-
20,153
-
(8,111)
-
73,000
-
101,380
-
-
-
141,723
7,128
16,491,111
2,249,321		 2022
£
192,151
1,278,144
24,000
-
92,319
16,000
204,319
82,864
51,915
48,894
-
-
-
1,990,605
2022
£
-
2,695
-
-
46,751
-
-
20,092
69,538
15,542,442
Restricted
Restricted		 2022
Total
£
192,151
1,278,144
24,000
204,059
92,319
16,000
204,319
82,864
51,915
48,894
-
-
-
2,194,664
2022
Total
£
7,128
2,695
-
-
46,751
-
-
-
20,092
76,667
13,490,568 17,791,763

The income from the grants shown above have been aggregated by charitable activity which have been described in note 15 to the financial statements.

* Negative income balances relate primarily to forex adjustments on actual income received and unspent funds payable back to donors.

Internews Europe Annual Report and Financial Statements 2023 | 32

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023 4a Analysis of expenditure (Current year)

Analysis of expenditure (Current year)
Staff costs (Note 6)
Program delivery costs
Rent
Office costs
Utilities
IT and communications
Development costs
Finance Cost
Legal and Professional fees
Depreciation and gains/losses on disposals
Travel costs
Support and governance costs
Total expenditure 2023
Total expenditure 2022		 Cost of raising
funds
£
439,072
2,055
-
2,629
-
647
-
(398)
-
24
34,152		 Charitable activities Governance
-
-
-
-
-
-
-
-
69,687
-
-
69,687
(69,687)
-
-		 Support costs
£
1,796,638
(55,056)
96,323
66,456
194
89,173
15,690
94,858
10,909
44,828
97,457
2,257,470
(2,257,470)
-
-		 2023 Total
2022 Total
£
£
9,744,077
8,005,346
7,468,988
7,089,920
263,558
315,884
131,880
201,802
21,111
6,905
191,802
102,350
44,176
28,697
119,671
92,253
263,955
219,360
45,221
43,113
710,540
962,665
Democracy,
Governance &
Human Rights
£
6,128,415
6,820,816
152,809
58,867
20,816
69,870
24,204
23,064
169,869
369
335,247		 Environment/
Economic
Development
£
1,241,597
702,203
14,089
2,002
94
8,989
(462)
274
13,490
-
202,502		 Humanitarian/
Health
£
138,355
(1,030)
337
1,926
7
23,123
4,744
1,873
-
-
41,182
478,181
-		 13,804,346
1,899,452		 2,184,778
384,823		 210,517
42,882		 19,004,979
17,068,295
-
-
478,181 15,703,798 2,569,601 253,399 19,004,979
410,817 13,927,824 2,672,785 56,869 17,068,295

Note:

Negative expenditure in finance costs represents a correction to recognise forex movements in support costs as they cannot be charged to projects. Program delivery costs shows negative costs allocated to support due to corrections to partner payments for the current and previous years.

Internews Europe Annual Report and Financial Statements 2023 | 33

Internews Europe

Notes to the financial statements For

the year ended 31 December 2023 4bAnalysis of expenditure (Prior year)

Analysis of expenditure (Prior year)
Total expenditure 2022
Total expenditure 2021
Staff costs (Note 6)
Program delivery costs
Rent
Office costs
Utilities
IT and communications
Development costs
Finance Cost
Legal and Professional fees
Depreciation and gains/losses on disposals
Travel costs
Support and governance costs		 Cost of raising
funds
£
319,264
1,785
-
43,651
-
620
-
28
-
284
45,184		 Charitable activities Governance
£
-
-
-
-
-
-
-
-
30,624
-
-		 Support costs
£
1,114,259
(455,318)
142,303
120,016
64
56,467
(14,854)
214,581
36,412
42,459
61,304
1,317,693
(1,317,693)
-
-		 2022 Total
2021 Total
£
£
8,005,346
7,426,522
7,089,920
8,444,205
315,884
313,302
201,802
260,919
6,905
12,912
102,350
190,516
28,697
2,823
92,253
338,062
219,360
346,176
43,113
53,612
962,665
253,959
Democracy,
Governance &
Human Rights
£
5,399,304
6,615,325
143,874
25,752
6,557
41,197
6,478
(91,393)
130,253
369
544,709		 Environment/
Economic
Development
£
1,131,328
925,432
29,699
12,376
278
4,066
36,287
(27,082)
22,071
-
306,714		 Humanitarian/
Health
£
41,190
2,696
9
6
5
1
786
(3,881)
-
-
4,754
410,817
-		 12,822,425
1,105,399		 2,441,168
231,617		 45,566
11,303		 30,624
(30,624)		 17,068,295
17,643,017
-
-
410,817 13,927,824 2,672,785 56,869 - 17,068,295
-
323,266 13,757,972 1,005,697 2,556,082 - 17,643,017

Note:

Negative expenditure in finance costs represents a correction to recognise forex movements in support costs as they cannot be charged to projects. Program delivery costs shows negative costs allocated to support due to corrections to partner payments for the current and previous years.

Internews Europe Annual Report and Financial Statements 2023 | 34

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

5 Net (expenditure) / income

This is stated after charging / (crediting):

Net (expenditure) / income
This is stated after charging / (crediting):
2023 2022
£ £
Depreciation 45,221 43,113
Operating lease rentals:
Property 61,600 61,600
Auditors' remuneration (net of VAT) :
Audit UK ( Statutory Audit) 32,000 28,680
Audit UK ( Statutory Audit under accrual previous year) 31,729 -
Other services - donor audits 124,593 138,241
Other services - donor audits non-SV 35,587 8,880
Foreign exchange loss 256,709 30,009

Staff costs were as follows:

Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes
Project staff - Internews & other direct contracted staff
Redundancy and termination costs
Total emoluments paid to staff were:
Other human resources costs
Total staff costs		 2023
2022
£
3,507,739
2,800,886
399,264
333,125
157,068
126,843
5,481,062
4,524,164
5,619
22,311
9,550,752
7,807,330
193,326
198,016
9,744,078
8,005,346

The Salaries of staff of Internews International (Paris) amounted to £876,482 (2022: £483,872)

The following number of employees received employee benefits (excluding employer pension costs) during the year between:

2023 2022
No. No.
£60,000 - £69,999 5 4
£70,000 - £79,999 3 2
£80,000 - £89,999 3 2
£90,000 - £99,999 2 -
£120,000 - £139,999 1 -

The total employee benefits of the key management personnel were £749,629 (2022: £696,202 ).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £2,817 incurred by two members relating to attendance at meetings of the trustees, (2022: £8,402) incurred by three members relating to attendance at meetings of the trustees.

Internews Europe Annual Report and Financial Statements 2023 | 35

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

7 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Raising Funds
Charitable Expenditure
Support & Governance		 2023
2022
No.
No.
51
44
10
9
5
5
66
59

Staff of Internews Network, other contractors and local staff working on Internews Europe's projects were 412 (December 2022: 368). Total staff engaged on Internews Europe's projects by the staff of Internews Network are estimated at 130 (2022: 107)

8 Related party transactions

lnternews Europe maintains a formal 'Strategic Alliance' with lnternews Network; a US based non-profit organisation which was the first media development organisation to bear the lnternews name and brand. A Memorandum of Understanding to firmly establish a strategic alliance was signed by the boards of both entities in September 2014. Through this Memorandum of Understanding (MOU), Internews Network (IUS or Internews US) and Internews Europe (IEU) express their joint commitment and intent to form a Strategic Alliance which aims to create greater programme impact and public benefit than two separate organisations would be able to achieve on their own. The alliance approach is particularly intended to ensure seamless delivery of programmes through regional and country offices, and greater sharing and application of effective organisational learning. Nevertheless, IEU and IUS purposefully maintain separate governance bodies and each legal entity has its own CEO.

One of the trustees of Internews Network, David Hoffman, is on the board of both entities. Kevin J. Delaney is the Internews Network Board representative on the Board of Internews Europe. Chanpreet Arora is the Internews Europe Board representative on the Board of Internews Network. The IEU Chief Executive Officer (Ms. Meera Selva), Director of Grants, Contracts & Compliance (Denis Kovalenko) resigned from the II Board 15th December 2023, Chief Operating Officer (Brian Kerr), and the company's Treasurer (Mary Trussell) , are on the board of Internews International, based in Paris.

At the en ~~d o~~ f the financial year 31.12.23 IEU had a net debtor balance with IUS of £364,055 (2022: £1,067,143) All transactions were at an arm's length basis. Internews Europe's subsdiary, Internews International is owed a net total of £153,108 (2022: £126,357) as of the same date. Internews Europe, continued its representation on the Board of Trustees of CDAC (Communication in Disaster Affected Communities) during the year.

Donations amounting to £nil (cash and pledges) from trustees have been recognised during the year, (2022: £12,465). All were unrestricted. Internews Europe maintained its effective control of the French Non-Profit Association, Internews International (RNA no. W751139592, SIRET no. 425 132 347 000 13 APE 913). Internews Media Development, registered as a non-profit entity in Ireland by Internews Europe in 2017, remained dormant.

9 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Internews Europe Annual Report and Financial Statements 2023 | 36

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

10 Tangible fixed assets

The group and charity

At the end of the year
Depreciation
Net book value at end of the year
At the end of the year
At the start of the year
Additions in the year
All of the above assets are used for charitable purposes.
Cost
At the start of the year
At the start of the year
Charge for the year		 Fixtures and
fittings
£
59,353
-		 Office equipment
& computers
£
112,277
8,548		 Office furniture
£
25,590
-		 Total
£
197,220
8,548
59,353 120,825 25,590 205,768
-
-		 68,515
26,953		 10,663
6,398		 99,952
45,221
32,644 95,468 17,061 145,173
26,709 25,357 8,529 60,595
38,579 43,762 14,927 97,268

11 Debtors

Accounts receivable
Programme advances
Other debtors
Balance due from subsidiary/other
Accrued income
Prepayments		 2023
2022
2023
2022
£
£
£
£
456,758
1,080,046
456,756
1,078,193
761,541
486,191
761,541
486,191
7,506
378,258
7,506
378,262
-
-
-
126,357
848,776
1,028,917
848,776
1,028,917
69,732
56,985
62,321
38,814
2,144,313
3,030,397
2,136,901
3,136,734
The group
The charity		 2023
2022
2023
2022
£
£
£
£
456,758
1,080,046
456,756
1,078,193
761,541
486,191
761,541
486,191
7,506
378,258
7,506
378,262
-
-
-
126,357
848,776
1,028,917
848,776
1,028,917
69,732
56,985
62,321
38,814
2,144,313
3,030,397
2,136,901
3,136,734
The group
The charity
2,144,313 3,136,734

12 Creditors: amounts falling due within one year

Trade creditors
Taxation and social security
Other/Sundry creditors
Accruals
Deferred income (note 13)		 2023
2022
2023
2022
£
£
£
£
603,731
652,148
621,900
652,148
111,429
100,944
111,429
100,944
102,694
192,915
53,366
209,601
274,686
162,695
274,686
162,695
-
700,695
-
700,695
1,092,540
1,809,397
1,214,488
1,826,084
The charity
The group		 2023
2022
2023
2022
£
£
£
£
603,731
652,148
621,900
652,148
111,429
100,944
111,429
100,944
102,694
192,915
53,366
209,601
274,686
162,695
274,686
162,695
-
700,695
-
700,695
1,092,540
1,809,397
1,214,488
1,826,084
The charity
The group
1,092,540 1,826,084

Internews Europe Annual Report and Financial Statements 2023 | 37

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

13 Deferred income

Deferred Income shown, relates to pre-financed monies received, unspent and unearned as at the year end.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year
14a
14b
15a
At the start of the
year
£
Democracy and Governance
5,598,006
347,477
779,091
Total restricted funds
6,724,574
65,499
65,499
6,790,073
Net current assets
Restricted funds:
Total unrestricted funds
Unrestricted funds:
General
Tangible fixed assets
Movements in funds (current year) - Group
Analysis of group net assets between funds (current year)
Environment
Total funds
Analysis of group net assets between funds (prior year)
Tangible fixed assets
Net current assets
Net assets at the end of the year
Net assets at the end of the year
Humanitarian		 2023
2022
£
£
700,695
1,280,967
(700,695)
(1,280,967)
-
700,695
-
700,695
General
unrestricted
£
60,595
(20,266)
40,329
General
unrestricted
£
97,268
(31,769)
65,499
Incoming
resources & gains
Outgoing
resources &
losses
£
£
11,548,982
13,615,224
1,819,475
2,184,778
122,111
210,517
13,490,568
16,010,519
3,000,543
2,994,460
3,000,543
2,994,460
16,491,111
19,004,979
The group		 2023
2022
£
£
700,695
1,280,967
(700,695)
(1,280,967)
-
700,695
-
700,695
General
unrestricted
£
60,595
(20,266)
40,329
General
unrestricted
£
97,268
(31,769)
65,499
Incoming
resources & gains
Outgoing
resources &
losses
£
£
11,548,982
13,615,224
1,819,475
2,184,778
122,111
210,517
13,490,568
16,010,519
3,000,543
2,994,460
3,000,543
2,994,460
16,491,111
19,004,979
The group		 2023
2022
£
£
700,695
1,280,967
(700,695)
(1,280,967)
-
700,695
-
700,695
Restricted
funds
Total funds
£
£
-
60,595
4,235,876
4,215,610
4,235,876
4,276,205
Restricted
funds
Total funds
£
£
-
97,268
6,724,574
6,692,805
6,724,574
6,790,073
Transfers
At the end of the
year
£
£
696,673
4,228,437
50,656
32,830
(716,076)
(25,391)
31,253
4,235,876
(31,253)
40,329
(31,253)
40,329
-
4,276,205
The charity		 2023
2022
£
£
700,695
1,280,967
(700,695)
(1,280,967)
-
700,695
-
700,695
Restricted
funds
Total funds
£
£
-
60,595
4,235,876
4,215,610
4,235,876
4,276,205
Restricted
funds
Total funds
£
£
-
97,268
6,724,574
6,692,805
6,724,574
6,790,073
Transfers
At the end of the
year
£
£
696,673
4,228,437
50,656
32,830
(716,076)
(25,391)
31,253
4,235,876
(31,253)
40,329
(31,253)
40,329
-
4,276,205
The charity
- 700,695 - 700,695
Incoming
resources & gains
£
11,548,982
1,819,475
122,111		 General
unrestricted
£
60,595
(20,266)		 Restricted
funds
£
-
4,235,876		 Total funds
£
60,595
4,215,610
40,329 4,235,876 4,276,205
General
unrestricted
£
97,268
(31,769)		 Restricted
funds
£
-
6,724,574		 Total funds
£
97,268
6,692,805
65,499 6,724,574 6,790,073
Outgoing
resources &
losses
£
13,615,224
2,184,778
210,517		 Transfers
£
696,673
50,656
(716,076)		 At the end of the
year
£
4,228,437
32,830
(25,391)
13,490,568
3,000,543		 16,010,519
2,994,460		 31,253
(31,253)		 4,235,876
40,329
3,000,543 2,994,460 (31,253) 40,329
16,491,111 19,004,979 - 4,276,205

Internews Europe Annual Report and Financial Statements 2023 | 38

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

15b Movements in funds (prior year)

Democracy and Governance
Total restricted funds
Total unrestricted funds
Total funds
Restricted funds:
Unrestricted funds:
Environment
Humanitarian
General		 At the start of the
year
Incoming
resources & gains
£
£
3,402,139
13,482,299
1,807,170
1,990,605
683,263
69,538
5,892,572
15,542,442
174,034
2,249,320
174,034
2,249,320
6,066,606
17,791,762		 Outgoing
resources &
losses
Transfers
£
£
12,822,425
1,535,993
2,441,168
(1,009,130)
45,566
71,856
15,309,159
598,719
1,759,136
(598,719)
1,759,136
(598,719)
17,068,295
-		 At the end of the
year
£
5,598,006
347,477
779,091
6,724,574
65,499
65,499
6,790,073

Purposes of restricted funds

Democracy, Governance and Human Rights

Democracy and Governance

Media serve a crucial watchdog function, providing citizens with the information they need to keep the public and private sectors accountable. In many countries, however, repressive legal environments inhibit the media's ability to play this role. Moreover, some journalists lack the skills to conduct the indepth investigative reporting that is essential to accountability.

Internews has trained journalists in investigative reporting, produced television programming to encourage dialogue on corruption, and helped reform media laws, including expanding freedom of information rights.

Human Right s : Internews trains both professional and citizen journalists to analyse and report on human rights issues more effectively. We support independent media to preserve access to information and promote the monitoring of human rights violations.

Conflict and Stablisation : Projects to support media, community mobilisation, and access to information with the aim of long-term efforts to build trust between governments and the governed and contribute to peace. Internews brings together journalists from diverse media outlets working in different languages to improve their professional standards of news reporting.

Environment

Environment : The Earth Journalism Network (EJN) – established by Internews – creates networks of environmental journalists in countries where they don't exist, and builds their capacity where they do. Through training workshops and development of training materials, support for production and distribution, the provision of small grants, and creation of unique data mapping platforms, EJN works with journalists in developing countries to find innovative solutions to the world’s most pressing environmental issues of today.

We support freedom of expression by helping to keep information flows open and connecting human rights defenders with their local media.

Our work also aims to reduce the potential for harm to journalists, writers and other civil society activists in countries where they are most at risk. We also build the independence and credibility of emerging information stakeholders, such as internet bloggers, to allow communities to trust in their most prolific sources of information.

Humanitarian

Humanitarian : In disasters people affected by the unfolding tragedy need more than physical necessities: they also have an urgent need for information. From earthquakes to armed conflicts, survival can depend on knowing the answers to questions such as: is it safe to go back home? Should I stay with my family or go elsewhere for help? What is the extent of the damage? Where can I get clean water and food? What are the symptoms of cholera? Where is the nearest health facility? Internews addresses these questions with a range of ongoing information services.

The CDAC secretariat hosted by IEU, builds the capacity of members to respond to humanitarian disasters, and builds the emergency roster of skilled and experience communication experts.

Internews Europe Annual Report and Financial Statements 2023 | 39

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

Transfers between funds

Transfers between funds relate to three main issues:

•Restricted funds had been misallocated between themes in the prior year's accounts. Therefore these have been reclassified via transfers in the year.

•Restricted funds included deficit funds that have been carried forward for a number of years. It is now clear that there is no expectation that further funding will be received to cover these so funds have been transferred from unrestricted to bring these to nil.

•A full review of restricted fund balances was also carried out to ensure any old balances relating to closed projects have been brought to nil. Transfers were also made for these.

16 Reconciliation of net income to net cash flow from operating activities

Reconciliation of net income to net cash flow from operating activities
Depreciation charges
Decrease/(increase) in debtors
Increase in creditors
Net cash (used in)/ operating activities
Net movements in funds for the reporting period (as per the statement of
activities)
In one year
One to five years
Operating lease commitments		 2023
2022
£
£
61,600
61,600
79,567
141,167
141,167
202,767
financial
Property		 2023
(2,513,868)
45,221
886,084
(716,857)		 2022
£
723,467
43,113
(863,224)
(381,694)
(2,299,420) (478,338)
141,167 202,767 2,953 4,134

17 Operating lease commitments

18 Capital commitments

At the balance sheet date, the charity had no capital commitments (2022: £nil).

19 Contingent assets or liabilities

At the balance sheet date the charity had no contingent assets or contingent liabilities.

20 Legal status of the charity

The Charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10

21 Subsidiary undertaking

The charitable company maintains effective control over Internews International, a company registered in France. The company number is 425 132 347 00013 (Numero Siret) and charity (Association) number is RNA W751139592 . The registered office address is 21 bis rue du Simplon, 75018 Paris

The subsidiary is used for charitable activities in Europe. All activities have been consolidated on a line by line basis in the statement of financial activities. Available profits are gift aided to the charitable company.

The Internews Europe's Chief Executive Officer, head of Grants and Contract, Internews Europe's Treasurer (Trustee) and Internews Network's Chief Operating Officer, currently constitute the directors of the subsidiary.

Internews Europe Annual Report and Financial Statements 2023 | 40

Internews Europe

Notes to the financial statements

For the year ended 31 December 2023

21 Subsidiary undertaking (continued)

A summary of the results of the subsidiary is shown below:

A summary of the results of the subsidiary is shown below:
The aggregate of the assets, liabilities and funds was:
Surpuls/(deficit) for the year
Gain(loss) on ordinary activities
Turnover
Reserves
Total funds
Assets
Liabilities
Exchange Adjustment
Brought forward
Administrative expenses
Surplus/(deficit)for the financial year		 2023
£
1,831,535		 2022
£
783,020
(1,514,603) (838,371)
316,932 (55,351)
316,932 (55,351)
(109,741)
-
316,932		 (54,390)
-
(55,351)
207,191 (109,741)
411,135
(203,945)		 55,282
(165,023)
207,190 (109,741)

During the year, Internews Europe's net costs incurred on behalf of Internews International were £153,108 (2022: £126,357). These costs were stated on the Charity's balance sheet (Intercompany account) - see note 11.

22 Parent charity

The parent charity's gross income and the results for the year are disclosed as follows:

2023 2022
£ £
Gross income 16,101,602 17,791,762
Result for the year (2,921,546) (268,329)

Internews Europe Annual Report and Financial Statements 2023 | 41