2024-12-31-accounts

Annual Report & Consolidated Financial Statements

INTERNEWS EUROPE 31 DECEMBER 2024

Company number: 07891107 Charity number: 1148404

Internews Europe Reference and administrative details For the year ended 31 December 2024

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:
	Mrs Carolyn Hink
	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	(Resigned: 11 November 2024)
	Mr David Hoffman
	Dr Ẹniọlá Ṣóyẹmí
	Dr Richard Danbury
	Mr Wolfgang Blau
	Ms Chanpreet Arora
	Mr Kevin Delaney	(Resigned: 6 December 2024)
	Dr Mark Hannam	Chair
	Mrs Mary Trussell	Treasurer
	Mr John Montgomery	(Appointed: 14 March 2025)
Key Management Personnel	Ms Meera Selva	Chief Executive Officer
	Mr Brían Kerr	Chief Operating Officer
	Ms Rosie Parkyn	Global Director of Impact
	Ms Ann Lomole	Senior Finance Director (Resigned: December
		2024)
	Ms Jessica McCarthy	Director of Global Development
	Mrs Claire Page	Director of Corporate Engagement
	Mr Denis Kovalenko	Director of Grants, Contracts & Compliance
	Mr Craig Twitt	Head of Closed States Programmes
	Mr Andrew Lyons	Global Tech Hub Director
	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 Invicta House 110 Golden Lane London, EC1Y 0TG

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Foreword

As 2024 closed, Internews had a new strategy, a clear mission, strong donor relationships, and a rapid pace of growth. Internews Europe was the mid-sized partner in the Internews alliance, which had expanded to include Internews International in France alongside Internews Network in the US. It is impossible to write this forward without acknowledging the seismic shifts that occurred in the entire development sector in 2025 with the dismantling of much of the US’s development agency USAID.

Internews Europe does not receive any US government funding and so its revenue streams and growth trajectories were not hit, but the cuts had a significant and long-lasting impact on Internews Network in the US. Internews Europe in the meanwhile has had to pivot to becoming the largest member of the Internews alliance, and has taken responsibility for many core operations including IT, security and external communications.

Our global operations have continued but many staff working on our projects, who had been operating out of offices run by Internews Network, have now moved onto Internews Europe contracts instead.

Mark Hannam, Chair

Our footprint is still global, operating in around 40 countries, and we continue to have strong relationships with our European donors.

Most importantly, the alliance and the Internews Europe mission still holds: a clear commitment to freedom of expression and supporting independent journalism in all its forms in places where it is needed the most.

To continue this work, we are looking at our strategy yet again, this time to ensure we have a lean, efficient, agile organisation that can deliver

Meera Selva, CEO

our work in a cost-effective way. We are putting technology at the heart of this work, ensuring our processes and decision making is data driven and efficient, and ultimately, as decentralised as possible, to shift as many resources and decision making powers away from headquarters and towards the communities with which we are working with worldwide.

We are proud of our private foundation support for our climate and environmental programming and will build on this as part of our donor diversification strategy, which will also look at other potential revenue streams and fundraising.

It is clear that communities need clear, relevant, trustworthy and timely news and information to make informed decisions about their lives, and Internews Europe has the expertise to help create these healthy information ecosystems in complex and volatile environments.

Thank you for your support in this important work.

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 2024. 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 a UK 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. The Board runs regular skills audits to ensure the right mix of experience and expertise is available, conducts an annual review of its effectiveness, 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:

• In humanitarian disasters, affected communities can access life-saving information to receive emergency health, water, and shelter supplies.

• In fragile states and emerging democracies, all citizens are afforded more and better opportunities to speak truth to power, engage with elected officials regarding critical issues,

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• holding them and the wider society to account through strengthened local media and investigative journalism; and

• In countries with limited press freedom, our tools and training help citizens access a greater plurality of views and sources of information about the world around them, by protecting credible sources of news and information.

Strategic Report

Achievements and Performance

DEMOCRACY, HUMAN RIGHTS AND GOVERNANCE PROJECTS

More than half the world’s population went to the polls in 2024. Yet despite the record ballot count, democracy continued to decline, reducing the availability of accurate, impartial information during the election cycle and beyond. More journalists were killed in 2024 than any year in the three preceding decades, whilst the media and information providers with whom Internews Europe works faced harassment, legal threats, ongoing viability challenges and the promise and peril presented by the advent of generative AI. Nonetheless, they persevered, with Internews’ support needed more than ever.

GLIMMER (Growing Local Independent Media for Meaningful Engagement in the Regions) an FCDO-funded project implemented by Internews in Kazakhstan, launched in June 2024. The project increased Kazakh citizens’ access to balanced, credible news in the Kazakh language – particularly important for a country whose media landscape is dominated by state-funded media and is vulnerable to recycled Russian language content that amplifies pro-Kremlin content. GLIMMER supported three independent, regional Kazakh-language media through sub-grants, training and mentoring to strengthen their editorial processes, increase the quality of their content, grow their audiences, and address critical digital security vulnerabilities. In total over 500 pieces of original content addressing pressing local social issues were produced by these partners, generating an audience reach figure of over 12.7 million. In addition, the project nurtured a number of emerging independent content producers and journalists, supporting ten partners to produce 686 pieces of content that collectively achieved over 4.6 million views. A three-day workshop that brought together the project partners was an important first step in developing a community of Kazakh-language media professionals.

CARAVAN (Cultivating Audience Resilience through Amplification of Vibrant and Authentic Narratives) is a regional EU-funded project operating across Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan that began in April 2024. Its aim is to strengthen resilience to foreign manipulation and interference, disinformation, and hate speech, in a region that is uniquely vulnerable to such threats due to its geographic position. The project supports credible regional media to act as a counterbalance to distorted and distracting narratives, by improving the quality and scope of regional journalism and content. The project also seeks to enhance cross-border cooperation between journalists in a region which is marked by worsening human rights, increasing state control, and repression of the media.

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In 2024 CARAVAN commissioned a pilot study on foreign influence manipulation and interference in Kyrgyzstan, combining artificial intelligence with expert analysis, with results due in 2025. The project also supports a coalition of advocacy groups – the Media Action Platform – to promote freedom of expression and access to information in Kyrgyzstan. In 2024 the Platform prepared a legal analysis of the draft Media Law (6th version), which was shared with Members of Parliament, and also organised an Action of Solidarity campaign to raise awareness about pressure on independent journalists.

Through sub-granting and mentoring CARAVAN supports independent media and content creators to objectively and accurately cover important regional issues such as climate change, migration and the war in Ukraine. As a result, four media outlets have become more financially and operationally sustainable, securing a number of commercial contracts to bring in revenue (in some cases for the very first time) – a critical step in securing their ongoing operation and independence. Participation in the project has also enabled partners to enhance their visibility and credibility to both potential new donors and collaborators and to develop working relationships with state institutions such as the Osh Regional Police Department in Kyrgyzstan, the Probation Service and the Disabled People’s Society, building trust and enabling articles to be produced on important but under-reported issues.

Increasingly conservative attitudes to women in Tajikistan, fuelled by disinformation, mean female journalists face a particularly hostile environment, and public discussion of women’s issues is severely limited. Through the seven-month long Women Make News (WoMeN) project, funded by the German Embassy in Tajikistan, Internews supported independent media in Tajikistan to increase and diversify women’s participation and representation in the news. Three media outlets and one content producer produced 36 articles on topics about and featuring women, which achieved over 1.6million views, generated 25,000 engagements from readers and sparked important discussions on women’s equality.

In Ukraine the war has placed unprecedented pressures on the media, putting outlets at risk of closure and subjecting journalists to trauma and burnout. Support for Ukrainian Media Survival (SUMS) is a 36-month project funded by Sida that is ensuring the survival and sustainability of national, local and hyperlocal media in the country, at a time when Ukrainian citizens urgently need access to reliable, trusted information. By partnering with a number of trusted, independent media NGOs in Ukraine to deliver financial support, training and consulting services to independent media outlets, SUMS has enabled Ukrainian media to continue to serve their communities at a critical time. Four national media outlets have become more financially sustainable, including project partner Ukrainska Pravda, which achieved record-breaking monthly sales, exceeding the KPI’s by 210%, a milestone in their history. Journalists supported by the project have carried out important investigative work, publishing stories that have led to the opening of criminal cases, the launch of official police investigations, and in one case the opening of a new class at a local Gymnasium and improvement of local school infrastructure. Programme participant Ksenia Panteleeva’s exposé of the head of the migration police’s misuse of official resources, for example, gathered nearly 1.2 million views and sparked thousands of comments. Twenty local media outlets (from 16 regions of Ukraine) and 127 journalists benefited from SUMS training and stipends during 2024, creating 125 pieces of content that in total reached over 7 million people.

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Recognising the psychological toll of covering traumatic events, and the constant threats media professionals face, SUMS also connected Ukrainian journalists to psychosocial help provided by other organisations around the country.

In Moldova, Internews implemented two projects, Media Education and Literacy and Optimisation of Newsrooms (MELON) funded by the Embassy of the Kingdom of the Netherlands, and Media Literacy Advancement and Support to Moldovan Media funded by Sida.

MELON focused on increasing the supply of and demand for high quality news and information in the Russian language, in a two-pronged approach that combined support for independent Russian language media outlets, with efforts to increase media literacy in Russian-speaking communities, particularly young people. To do this MELON partnered with a touring theatre company to bring an engaging and interactive play about misinformation and online safety to more than 1,800 children in 19 schools and kindergartens, across nine districts. The play’s message about digital responsibility and the importance of critical thinking was well-received by both students and teachers. For older students, a five-day film production camp organised in collaboration with Internews’ FilmAid programme demonstrated to Russian-speaking budding documentary makers how film-making could be a tool for media literacy and also fostered inter-cultural understanding between both workshop participants and the films’ audiences. The two media outlets supported by MELON flourished under the project, winning awards, delivering exceptional audience growth, improving the quality of their Russian-language content, and securing commercial projects that tap into a rising market for Russian-language content in the commercial sector.

The 36-month-long Sida funded Media Literacy Advancement and Support to Moldovan Media project also works to strengthen media literacy and critical thinking skills, particularly among Moldovan youth and vulnerable groups. Working with the Independent Journalism Centre the project digitised media education textbooks for all school levels, in both Romanian and Russian languages, making the content more accessible, interactive and easily updatable. An estimated 3,500 students are now learning with these new materials, and the content was also made available to students with visual impairments through production of Braille copies, and to students with hearing impairments through video lessons with accompanying sign language.

Five national and six regional media outlets were supported through the project, receiving targeted grant support and consulting which expanded their reach, strengthened their financial stability and helped them transform their digital and multimedia approaches to journalism.

The project also works to improve the capacity of regulatory bodies and media watchdog organisations, in order to promote trustworthy, transparent and professional journalism. In 2024 following monitoring carried out by project partner API (the Association of Independent Press) the Audiovisual Council of Moldova imposed sanctions totaling MDL 62,000 (approximately EUR 3,100) on nine TV stations that violated the law in their coverage of the presidential campaign and constitutional referendum. Of the 15 decisions adopted by the AVC, seven contained information from monitoring reports prepared by API.

The IPMR (Indo-Pacific Media Resilience) project is a three-year programme funded by the European Commission which takes place across Lao PDR, Malaysia, Philippines, Sri Lanka, Indonesia and Thailand. It is designed to strengthen media and societal resilience to

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disinformation, fostering a network of professional journalists for mutual support and exchange of best practices, fact-checking, and tackling disinformation. The project focuses on enhancing the editorial capacities of the media partners, improving synergies between local media and civil society actors to promote fact-based and reliable reporting, and strengthening the capacities of media organisations to ensure their business operations are sustainable.

Thus far, the project has trained 60 journalists on OSINT tools and techniques and provided mentoring support as they pursue OSINT investigations on public-interest issues which attract disinformation narratives, 50 journalists on digital newsroom management and content production, and 23 representatives of newsrooms on audience engagement and digital products diversification strategies, empowering them to innovate on their revenue generation models.

In South Asia, we launched a new European Commission-funded project APPT (Advancing Political Pluralism and Transparency in Sri Lanka and Maldives) in January 2024. It aims to improve the integrity and transparency of electoral processes and involves collaboration with the Centre for Policy Alternatives, Sri Lanka Unites and the Society for Peace and Democracy in the Maldives. Comprehensive Election Information Assessments (EIAs) were carried out in both countries, providing a holistic overview of the information - or lack of it - for women, youth and marginalised communities around elections and the electoral process. This informed the design of training curricula and election reporting training, and thus far the project has trained 40 civil society organisations to deliver training themselves; supported a youth coalition with 124 members who facilitated 24 study circles around voter rights, engagement in electoral processes and legal frameworks; trained 58 journalists on objective election reporting in the lead up to presidential, parliamentary and local government elections, provided journalists with fellowships and mentorship to produced 15 in-depth news pieces related to marginalised communities and trained 90 youth and women leaders trained on print and mobile journalism, social media usage, and content creation around the electoral topics.

In partnership with Salam Watandar we continued to implement WRAP (Women in Radio in Afghanistan Project) funded by the Netherlands Ministry of Foreign Affairs. It aims to ensure that Afghan people across all provinces have increased access to high-quality, public interest information that amplifies women’s voices. It achieves this by supporting internships for women journalists and a women-fronted radio show focused the gender dimension of key issues called ‘Parwaz’ (flight) which is broadcast on 93 stations across 34 provinces, including 24 women-run stations. It has tackled underage marriage, enforced salary cuts for women workers, the challenges for women with disabilities, efforts to reopen girls’ schools, and the lack of access to essential services for nomadic women, amongst other issues.

In Liberia, we launched the European Commission-funded LMEP (Liberia Media Empowerment Project). During its first year, the project supported Liberia’s Ministry of Posts and Telecommunications to produce the country’s first ever standalone legislation on personal data privacy and protection which has now gone to the office of the Liberian president for input and subsequent submission to the legislature for enactment. In addition, LMEP has been working with statutory bodies like the Independent Information Commission to convene public and stakeholder engagements to discuss the country’s current information ecosystem, especially the Freedom of Information law. In addition, through public symposia, radio programming, newsletters, social

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media campaign and fact-checking, the project is leading, increasing and diversifying public education and awareness of mis and disinformation. In addition, partner Local Voices Liberia has qualified as a member of the IFCN (International Fact Checking Network). 112 journalists and journalism students have also been trained in fact-checking, investigative reporting and responsible human rights reporting.

Also in Liberia, the Sida-funded Radio Content Syndication worked with ALICOR (Association of Liberia Community Radios) to improve access to quality, impartial information through the establishment a nationwide community radio content syndication network. By the end of 2024, the project had established the National Information Dissemination Center (NIDC) in Monrovia, a multimedia production facility which produced 50 original radio programs aired through partner radio stations.

The project also strengthened the foundation of ALICOR as an institution – a core project objective. As an outcome of an organisational capacity assessment, ALICOR now has mediumterm strategic plan (2023–2025), along with robust financial, administrative, human resource, and procurement policies. A full-time Secretariat was established and staffed, providing daily oversight and support to member stations and improving overall governance. The project also set ALICOR on the part to financial viability: the association generated over $52,000 in revenue from contracts with clients such as Catholic Relief Services, the European Union, and ArcelorMittal. This income helped cover production and distribution costs and demonstrated the potential of NIDC as a media service provider.

In addition, at least 72 community radio journalists benefited from tailored training in conflictsensitive reporting, digital editing, scriptwriting, election coverage, and multimedia production. These trainings were complemented by extensive mentorship from Internews staff, offering guidance on story development, editing, and equipment maintenance.

Two projects were implemented in Democratic Republic of Congo (DRC) in 2024. Reinforcing Rural Radios in DRC is funded by the Swedish Embassy and its main goal is to promote a more open and vibrant community radio sector that meets the information needs of people in rural areas, particularly women and youth, and strengthens their participation in public debate. Protecting Freedom of Information in the DRC is funded by the Swiss Ministry of Foreign Affairs and has led to a law on access to public information submitted to the National Assembly. In addition, it has improved the monitoring and defense of press freedom and providing emergency funding for legal assistance.

The European Commission funded Freedom of Expression in Madagascar project aims to promote a free, safe, and professional media environment in a context marked by media polarisation, mistrust between journalists and civil society, and widespread exposure to disinformation, especially on social media. The project is structured around four key areas: promoting freedom of expression and a protective legal framework, improving the production of independent content, combating disinformation, and strengthening the advocacy and communication capacities of civil society organisations.

Notable achievements in 2024 include the establishment of five regional dialogue platforms and a national steering committee, a monitoring mechanism for press freedom violations, and digital and physical security training and content production support.

Internews continued to work in increasingly challenging conditions in Sudan. Two projects, Tackling Hate Speech and Polarised Narratives in Sudan and EMA (Empowering Media Actors), worked to enable journalists to better identify and counter disinformation and hate speech, enhance information integrity, promote civic and community resilience against disinformation and increase the reach of high-quality information. Targeted mentorship was provided to 60 journalists

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in exile, leading to powerful investigative stories addressing the impact of war on education, gender-based violence, and the plight of persons with disabilities. Rapid response grants and psychosocial support proved vital in safeguarding media resilience during armed conflict. Journalists and outlets were able to safely relocate, procure essential equipment and continue operations amid high insecurity. 71 journalists accessed counselling and therapy provided by Internews.

In Kenya, the Kensafespace Project funded by the European Commission completed its first year of implementation. It conducted a digital information ecosystem assessment which reported that there are 1.4 million cyber threats in the country per day and underscored the need to safeguard data online, counter harmful content by empowering journalists and content creators to verify and counter disinformation, promote digital media literacy and cyber hygiene practices amongst vulnerable groups, and build robust cyber security infrastructure and policies that foster innovation, mitigate insecurity and do not curtail human rights.

The project successfully engaged three government agencies in the development of legal or regulatory frameworks governing online abuse, violence and bullying. Through various training sessions, awareness campaigns, and stakeholder engagements, the project has reached thousands of individuals, equipping them with essential digital safety skills. Key achievements include the training of over 4,247 school children in digital safety across the country, enhancing their ability to identify and respond to online threats. Additionally, 136 children in Children’s Rights Clubs and 112 children in a school holiday programme benefited from targeted digital literacy sessions.

The project also expanded awareness on digital safety through radio talk shows, reaching over 501,530 listeners, and public campaigns on social media, engaging more than 435,303 individuals. A dedicated digital safety campaign on X (formerly Twitter) further amplified outreach, with 385,000 people engaged through awareness messages.

To strengthen institutional engagement, the project facilitated multi-sectoral engagements with parliamentary caucuses, leading to commitments from the Senate ICT Secretariat to collaborate on digital governance reforms. Town hall meetings and training activities empowered 37 peri-urban women and youth, 51 digital content creators and journalists, and 42 human rights defenders with tools to counter misinformation and online threats.

Additionally, Digital Safety Hangouts and specialized training for digital activists and human rights defenders enhanced resilience among vulnerable groups. These activities collectively contributed to a more informed and responsible digital environment, fostering a safer online space for communities while reinforcing the project's long-term sustainability. The trainings led to a significant and quantifiable improvement in digital literacy skills, with a 75% increase in high-level knowledge ratings, an over 60% improvement in critical assessment skills, and a complete shift (100%) toward confidence in distinguishing factual from misleading information. The overwhelmingly positive feedback indicates the training effectively empowered participants to foster safe, democratic, and inclusive digital spaces.

Internews launched the Voice Up! Information for Peace project in Ethiopia in 2024, encompassing a wide range of activities to promote peace and social cohesion in Tigray, Amhara, Afar and Benishangul Gumuz regions. These included the production of over 80 radio programmes addressing conflict issues and establishment of associated listening groups to foster discussion of the issues contained in the programming.

Internews Closed States Programme (CSP) supported 64 partners across 12 countries, reaching an estimated audience of at least 17 million people. In December 2024, Sida extended its core support to CSP by a further three years taking it through to 31 Dec, 2027. CSP has expanded its support to at-risk journalists through more dedicated resources and intentional coordination, both

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within Internews and across the sector via the Journalists in Distress Network. In 2024, CSP partnered with MiCT – a small NGO in Germany – to provide increased resources to at-risk journalists.

ENVIRONMENT PROJECTS

In 2024 the Earth Journalism Network (EJN) celebrated its 20[th] anniversary since its founding in 2004. To mark the occasion, EJN launched a year-long social media campaign, announced several new pilot projects, published two new research reports, “Covering the Planet” and “Are Journalists Reporting the Global Polycrisis?”, with press releases announcing our findings, and created a new strategy which will focus our work under four thematic pillars: Biodiversity, the Ocean, Climate Change, and One Health.

Funded by a general support grant from the Netherlands Postcode Lottery (NPLN), EJN trialed two pilot projects in 2024. January saw the launch of a long-term fellowship program, the EJN Reporting Fellowships, which ran through 2024. This new type of support for journalists included a year’s salary for four outstanding journalists working across our new thematic pillars, a week-long workshop in London and monthly virtual trainings, dedicated expert mentors in these same topics, and financial support for story production, professional development and travel to report from key environmental conferences.

Funding from NPLN was also used to launch another exciting pilot program for EJN – Earth Shorts. This is EJN’s first project to work primarily with social media content creators across TikTok, Facebook, YouTube, Instagram, and other leading social media platforms. Recognising that audiences are increasingly getting news and information from social media, the program aimed to deepen the communicators’ understanding of climate change and enhance their skills in producing short-form video content that educates and engages their audiences. The Philippines was chosen as the location to pilot this new type of work, and the eight selected social media fellows received in person and virtual training, a small grant to produce short-form videos for their platforms that incorporated themes of climate and environment, and expert mentorship throughout.

In Argentina and South Africa, the second phase of a project to support reporting on “Pathways to Net Zero” wrapped up in 2024. This project, funded by the European Climate Foundation, aimed to deepen and diversify reporting on decarbonization and the energy transition, to both shape policy and inform audiences about key decisions that impact their livelihoods, well-being and their future. Journalists from both countries supported through story grants and workshops published 24 new stories on net zero and related issues, and many more benefitted from project tipsheets and webinars.

EJN also received follow on support for a second phase of the Mediterranean Media Initiative (MMI) project in 2024, funded again by the Adessium Foundation. The first phase of the project, which aims to enable journalists and media organisations to expertly report on marine issues in the region, ended in March. MMI Phase 1 supported journalists produced 117 original stories in 8 different languages, and received a total of seven independent media awards between them, highlighting the exceptional contributions and achievements of MMI’s media community in marine

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journalism within the Mediterranean region. Phase 2 of this project has begun by awarding 10 new story grants for Mediterranean journalists and 4 grants for deeper investigations into marine issues.

Following the same trend, EJN’s flagship Biodiversity Media Initiative (BMI) was supported for a third phase to begin in 2024, though now funded by Fondation Hans Wilsdorf. BMI is one of EJN’s longest-running programs, with Phase 1 dating back to 2016. The third phase, set to run for another 3 years, will continue to build awareness of the threats to biodiversity and of solutions to biodiversity challenges with a focus on audiences in low- and middle-income countries, and build the capacity of journalists and communicators to report on threats and solutions to these challenges. The first round of story grants supported four in-depth and data-driven investigations into biodiversity issues globally, while four new grants to organisations are focusing on environmental and wildlife crime, including covering court proceedings, and reporting on progress towards the targets of the Global Biodiversity Framework. Under this project and with co-funding from the Meliore Foundation, EJN also supported 11 journalists to report from the 16th UN Biodiversity COP in Cali, Colombia, as well as six virtual fellows to report from the conference remotely. Collectively these journalists produced over 80 stories on the COP for their home audiences in four different languages.

Finally, in November EJN held its annual fellowship programme for journalists to travel to and cover the UN Climate Change COP, under the Climate Change Media Partnership programme. For this year’s COP29 held in Baku, Azerbaijan, EJN chose to host a small cohort of journalists from Europe and Eurasia, working closely with the regional team to spread the call to new networks in the region, finalise a list of countries, and address any security concerns related to the COP’s location. 20 journalists, including reporters from Poland, Kyrgyzstan, Czechia and Romania, travelled to Baku to cover the COP for their audiences, while a further 6 journalists received virtual fellowships and support to cover the conference remotely. Collectively the fellows published 220 stories.

With Sida’s support, the Earth Journalism Network Asia-Pacific project strengthens the capacity of journalists, media and other communicators in the region to report on the drivers and impacts of, and viable solutions to environmental issues and climate change, through training workshops, development of reporters’ resources, fellowships for journalists, and partnerships with local media organisations. In the past year, the project has achieved or overachieved all its annual targets, making good progress towards its goal of advancing public understanding of the serious state of the environment and climate crises to drive changes that can effectively address these challenges. EJN Asia-Pacific Phase 2 was initially launched in 2022 as a three-year project and was refunded for another 2 years until December 2026. Our work has led to policy impacts and positive changes.

The European Commission-funded project Media for Inclusive Green Growth in Nepal strengthens the capacity of local CSOs and media to produce evidence-based information and promote public participation in green growth and natural resource governance, ensuring the inclusion of vulnerable and marginalised groups. Activities include training for professional journalists and citizen journalists, fellowships for journalists, seed grants for new programming and multi-stakeholders dialogues at the provincial and national levels. The three-year project was launched in February 2024.

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The Reporting on Vietnam’s Pathways to Net Zero project is currently implementing its second phase of activities, which includes training workshop, story fellowships and online “Ask the Expert” sessions to strengthen media reporting on renewable energy to increase transparency and accountability in energy transition in Vietnam. We are in discussion with the funder, Tara Climate Foundation, for a third phase of this project.

HUMANITARIAN PROJECTS

In South Sudan, the World Food Programme-funded project Community Voices sought to alleviate the vulnerability of refugees, returnees, and host communities in South Sudan by improving the humanitarian response through community-based two-way communication and feedback mechanisms, with a focus on food and cash assistance. These channels have facilitated the collection of feedback, concerns, and suggestions from the affected populations, which have been used to adjust and improve response strategies.

Throughout the course of the project, significant achievements were realised. Key activities included the dissemination of life-saving information through PSAs (Public Service Announcements), the collection of feedback via Listening Group meetings, and the facilitation of focus group discussions. Around 639 pieces of broadcast content were produced, including PSAs, radio programmes and e-bulletins, reaching over 60,000 people with vital messages on food security, health, nutrition, upcoming distributions and flood preparedness. A total of 5,018 feedback entries were collected from Renk, Malakal, and Aweil through 234 continuous listening activities. These insights have proven invaluable in refining aid delivery, with a significant focus on food security, shelter, health, protection, and non-food items. Food security and the distribution of cash assistance were identified as critical needs, with many beneficiaries reporting delays and inadequate rations. Following this feedback collection a total of 110 major referrals were made to CCCMM and protection clusters, which led to adjustment in programing to better satisfy beneficiaries’ expectations. The intervention has successfully addressed the evolving concerns of displaced populations, particularly regarding food distribution, health services, and sanitation.

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Financial Review

The detailed results for the year ended 31 December 2024 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 2024 was £22.1m compared to £16.5m in 2023, an increase of 33%. Total expenditure was £18.1m compared to £19.0m in 2023.

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 2024 our unrestricted group reserves showed a deficit of £362k compared to a restated surplus amount of £362k at the end of 2023. Free reserves, general reserves less fixed assets held, showed a deficit of £404k compared to a surplus of £301k in 2023.

Remedying the current reserves position, and moving swiftly towards the minimum target, is an urgent priority for the Trustees, and will be a major focus for our work during 2025.

Our new revenue strategy will include 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

Defending Truth During a Year of Global Elections and Rising Repression.

In 2024, across the globe—from Ukraine and the Philippines to Gaza and the Congo— people faced rising authoritarianism, economic instability, climate disasters, and humanitarian crises, all deeply linked to the world’s information systems.

The Committee to Protect Journalists recorded the second-highest number of imprisoned journalists since it began tracking data, with 361 jailed worldwide. Seventy-six of 103 journalist deaths in 2024 occurred in Israel and Gaza, making it one of the most dangerous regions for media workers.

In 2024, more than half of the world’s population went to the polls—including in many of the countries where Internews operated. But press freedom was under siege, often by the very political authorities meant to protect it. We saw a global erosion of media autonomy and a dangerous rise in pressure, censorship, and disinformation fuelled by state and political actors. In this context, journalists, content creators, and influencers played a vital role in ensuring accurate and trustworthy information reached citizens. At Internews, we worked to ensure that people—especially those in marginalized or high-risk communities—had access to locally produced, contextually relevant, and verifiable news during these elections. That included supporting journalists in exile or those forced to flee, providing tools, training, and financial lifelines so they could continue their work safely and effectively. We also built our internal community of practice on this issue—sharing expertise, refining protocols, and strengthening partnerships to respond nimbly to election-related challenges. This remained central to our strategy and our

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belief that everyone deserves access to information that helps them make informed decisions and hold power to account.

External Events

In 2024, Internews reinforced its global leadership in media freedom by expanding its engagement with the Media Freedom Cohort (MFC) beyond the 2nd Summit for Democracy . Rosie Parkyn joined an expert panel during an MFC conference side session titled, “Case Studies of Action from the Media Freedom Coalition: Supporting Journalists at Risk through Safe Refuge and Coordinated Advocacy.” Meanwhile, in celebration of World Press Freedom Day in Africa, Internews collaborated with partners in Kenya and Nigeria to discuss pressing issues including press freedom, climate change, and media law reforms .

In September, Internews strengthened its cultural initiatives in Kyrgyzstan through its partnership with the Kyrgyz National Theater “Manas.” Together, they hosted their annual Aitysh competition —a showcase of akyns -improvisers demonstrating poetic skills. Nazik Chekirova,

Director of Internews in the Kyrgyz Republic , highlighted how Internews has been equipping akyns-improvisers with modern approaches to creating content on socially significant topics, disseminating their work through social media, and preserving traditional cultural values . At the International Journalism Festival 2024 in Perugia , Internews actively participated in discussions on press

freedom, investigative journalism, and AI in newsrooms . Notable sessions included: Who Should Be Supporting Journalism and Why?

The Role of Journalists and Social Media Content Creators in Redefining Environmental Journalism Preparing for Exile —a session addressing challenges faced by journalists in exile.

In a major milestone, Internews renewed and expanded its Framework Partnership Agreement with the European Commission , solidifying its commitment to independent media as a cornerstone of democracy 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 2024 comprised 79% of total awards, broadly in line with 2023 at 77% This is reflective of our income diversification strategy resulting in 21% of total awards coming from Institutional Foundations in 2024.

Going Concern Review

Internews Europe has grown its restricted income and capabilities significantly in recent years, often investing unrestricted funds to do so. While this investment means that the charity is currently in a position of negative unrestricted funds, it is now developing a revised revenue strategy for 2025 onwards with the aims of increasing unrestricted funds, growing reserves and diversifying funding as key priorities. Furthermore, the robust cash balances and strong pipeline of future funding means that the unrestricted funds position does not limit the charity's ability to deliver its work. The Trustees consider it appropriate to prepare the accounts on the going concern basis. In the view of the Trustees, revenue visibility remains strong, project delivery controlled and there are no material uncertainties.

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.

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Internews continues its efforts in pursuing a targeted donor diversification strategy which reduces over-reliance on any one donor. In addition, we continue to develop strategies to build unrestricted income.

Fundraising Regulation

All Internews fundraising activities are managed in house. Our Development Department manages relationships with governmental, multilateral and NGO donors

whilst the Private Development and External Affairs Departments are 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. In addition, the Governance & Risk Committee reviews specific risks in detail at its twice-yearly meetings, as well as reviewing the effectiveness of the control environment.

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, 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 proposition 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 respond 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, 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 our 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 review the

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organisation’s ability to continue to operate programmes in high-risk 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 well-established 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.

The risk and frequency of breaches and incidents has increased significantly in recent years. As such, Internews will continue to focus on and invest in a best-in-class cybersecurity programme 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 flexibility 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

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technical expertise and strategic partnership initiatives.

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:

• Prevention of Abuse and Safeguarding,

• Non-Discrimination and AntiHarassment

• Relationships in the Workplace,

• Business Ethics,

• Disclosure, Protection Investigation,

management, simplicity, and accessibility 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.

• Conflict of Interest.

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.

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

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Plans

2024 was the launch of the new three-year Strategy for the Internews Alliance: For Your Information. Internews was founded to bridge information divides, at the time of our founding this mission was important. Today, it is essential – to the survival of democracy, the race against the climate crisis, the toughest challenges facing humanity. At Internews we are determined to meet this moment with a degree of innovation and tenacity that matches its urgency. That is why we have developed a new strategy to guide us over the next three years.

For Your Information is not just a blueprint to guide our work. It is a statement of purpose, so that your information – the information shaping the choices and aspirations of communities in 100+ countries where we work – can be independent, fair and fact-based.

The joint focus for Internews Europe (IEU) and the Internews Network (IUS) in 2024 was launch, operationalise and promote the new strategy. Our annual organisational priorities emerged from the strategy itself. For each of our five strategic pillars of the strategy we have a series of annual priorities and objectives which are detailed below.

The five strategic pillars are:

1. Dynamic & Adaptable Programming

2. Experience & Evidence-Based Thought Leadership

3. Genuine Local Partnerships Based on Mutual Trust

4. People-Centred Organisational Culture

5. Scalable Operations in Complex Environments

Along with the specific overarching priorities reported below, the decision was made to revise our longterm strategic Alliance Agreement with an eye towards bringing Internews International onboard as a third member of the Alliance.

Detailed Report Annual Plan 2024

1. Strengthen our presence within the European Union by strengthening the interdependence of Internews International

Develop and strengthen Internews International as an entity with access to a wider range of EU funding : 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 and to bring Internews International onboard as the third member of the Alliance.

Strengthen relations with the European Union to forward EU funding mechanisms : We have strengthened relations with the European Union through events, meetings, and outreach both in Brussels and at country level. We renewed the 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.

2. Boost financial resilience by building up reserves.

Grow reserves : A new Revenue Strategy was finalised for 2024-2026 as part of our new strategic framework, including strategies for fundraising and the ultimate target for what we think is reasonable in the coming three years, as well as potential follow-on goals.

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Find a cost recovery model which works for both the organisation and for donors: We will continue to simplify our processes and methodologies for cost sharing across the Alliance, bringing efficiencies and improvements which will translate into more effective use of funds.

Diversify our revenue streams to guard against single donor resilience: Work continued to diversify our revenue streams in 2024, ending the year with our highest ever level of net new awards. The European Union and Sida continue to be significant donors, and our relationship with the FCDO has re-started to ensure we are not reliant on a single donor. Private sector fundraising was also significantly over the target set for 2024.

3. Build internal and external engagement with strategy, including critical board functions.

Translate strategic plan into board, external and internal reporting, including KPIs : The strategy accountability team led work to identify and implement initiatives, established measurement approaches and reported out on progress at Board meetings, and during internal staff meetings. Tracking and measuring our strategy is similar to our programmatic work – building up from the initiatives we do year-on-year to show how they add up to the impact we are hoping to achieve. Key achievements were reported under each of the 5 pillars of the strategic framework.

Lead scenario planning as core part of strategy : With 2024 being the year of elections Internews took the time to run scenario planning in-case of any potential future funding cuts which might arise. The scenario planning project was run with the Alliance Leadership Team to provide meaningful data points and decision-making triggers for managing growth or shrinkage (25-50%). It was found in early 2025 that the envisioned scenarios did not take into account the dismantling of USAID which has had great impact on Internews Network, Internews Europe does not receive any direct funding from USAID and therefore is not directly impacted by the stop work orders and the closedown of USAID.

4. Bring teams and Board along with structural, resource and process adjustments necessary for a more effective Alliance.

Establish an Alliance Leadership Team, which guides the work of the Alliance : Leaders of the global Alliance were brought together to form the Alliance Leadership Team. The Alliance Leadership Teams serves as the senior most advisory group to the Executive Team to ensure Internews executives understand the risks and consequences of decision making. Members build cross-departmental collaboration and accountability for delivering Alliance-wide organisational priorities, including identifying challenges and working together for solutions.

Legal consulting on Alliance Agreement: Extensive work was completed through the Alliance Committee to update the Alliance Agreement to bring Internews International onboard as a third member of the Internews Alliance. Pro-bono legal support was given by Slaughter and May in London.

Joint Board Trip: To further their understanding of our work all members of the Board were invited to join members of the US Board on a trip to Colombia, to meet with staff and partners. This trip also gave Board members the opportunity to meet representatives of the Wayuu community in La Guajira, to learn about their film-making projects which Internews has supported.

5. Environmental Audit.

Conduct organisational environmental audit to determine our climate commitments and develop organisational approach to reporting and measuring on them : Internews Europe contracted Environmental Monitoring Solutions Ltd (EMS) in June 2024 to conduct a carbon feasibility study focusing on the carbon associated with energy use in the London office, and emissions associated with business travel. The purpose of the ‘Carbon Net Zero Feasibility Study’ is to allow Internews Europe to demonstrate to internal and external parties that we are committed to reducing/offsetting our carbon and reducing our impact on the environment.

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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."

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 2024 with a surplus of £58,156 (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.

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 Governance & Risk, 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.

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 who 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. All Trustees are appointed for an initial three-year term, and may be reappointed for a second term. Only in exceptional circumstances will Trustees serve

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beyond six years, and nine years is the maximum term of office.

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 John Montgomery. 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 who departed the company in December 2024, 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 Jessica McCarthy , Director of Global Development, Mr Craig Twitt, Head of Closed States Programmes, Mr Andrew Lyons , Global Director of Global Tech Hub, and Mr Brían Kerr, Chief Operating Officer.

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

Related Parties and Relationships with Other Organisations

Internews Network (USA) and Internews International (France)

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 revised Strategic Alliance Agreement, brought Internews International, our French registered entity formally into the Alliance, this agreement was ratified and approved by all three independent Boards at the end of 2024.

Through their Alliance, Internews Network (IUS ), Internews Europe (IEU), and Internews International (II) express their joint commitment and intent to create greater programme impact and public benefit than three 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 the global reach and for the successful implementation of a diverse body of projects and programmes 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 field office is equipped with the resources to deliver a blended portfolio of projects and programmes.

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Nevertheless, all three entities purposefully maintain separate, independent, governance bodies and each legal entity has its own local management structure.

CDAC Network (Limited) (UK)

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

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

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:

• Domestic and international charities with a similar level of income.

• Other relevant international charities of any size; for example, others in the British Government’s Rapid Response Facility (RRF).

• Other charitable organisations working in the specific sectors of media, information and development, freedom of expression and support to independent journalism; and

• Comparable salaries of Internews Network staff.

The Internews Alliance is among the two or three largest organisations working in the

During 2024 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:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material

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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.

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 to 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 irregularities.

In so far as the Trustees are aware:

• there is no relevant audit information of which the charitable company’s auditors are unaware; and

• the Trustees 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 that information.

• The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The total number of such guarantees on 31 December 2024 was 10 (2023: 12). The Trustees are members of the charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the charity.

Auditors

Sayer Vincent LLP were re-appointed as the charitable company's auditors during the year.

Approved by the Trustees on 27 June 2025 and signed on their behalf by:

Mark Hannam, Chair of Trustees

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Independent Auditor’s Report

To the members of Internews Europe

For the year ended 31 December 2024

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 2024 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:

• Give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 December 2024 and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended

• Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice

• Have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011

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

Internews Europe Independent Auditor’s Report 2024 | 28

Independent Auditor’s Report

To the members of Internews Europe

For the year ended 31 December 2024

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.

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:

• The information given in the Trustees’ annual report, including the strategic report, for the financial year for which the financial statements are prepared is consistent with the financial statements.

• The trustees’ annual report, including the strategic report, has been prepared in accordance with applicable legal requirements.

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.

Internews Europe Independent Auditor’s Report 2024 | 29

Independent Auditor’s Report

To the members of Internews Europe

For the year ended 31 December 2024

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:

• Adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or

• The parent charitable company financial statements are not in agreement with the accounting records and returns; or

• Certain disclosures of trustees’ remuneration specified by law are not made; or

• We have not received all the information and explanations we require for our audit.

• 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 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.

Internews Europe Independent Auditor’s Report 2024 | 30

Independent Auditor’s Report

To the members of Internews Europe

For the year ended 31 December 2024

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

• In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• We enquired of management and the finance and audit committee, which included obtaining and reviewing supporting documentation, concerning the group’s policies and procedures relating to:

  • Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;

  • Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;

  • The internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations.

• We inspected the minutes of meetings of those charged with governance.

• We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience.

• We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.

• We reviewed any reports made to regulators.

• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.

• We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.

• In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements

Internews Europe Independent Auditor’s Report 2024 | 31

Independent Auditor’s Report

To the members of Internews Europe

For the year ended 31 December 2024

made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

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 non-compliance 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 18 September 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 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 2024 | 32

Internews Europe

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

For the year ended 31 December 2024

For theyear ended 31 December 2024
Income from: 2 3 3 3 4 4 4 4 Reconciliation of funds: 15 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 Total expenditure Net income / (expenditure) 5 Total funds brought forward Total funds carried forward Transfer between funds Net income / (expenditure) and net movement in funds	Unrestricted £ 297,910 3,109,754 547,428 71,037	Restricted £ - 15,528,077 2,152,580 379,911	2024 Total £ 297,910 18,637,831 2,700,008 450,948	Restated Unrestricted £ 90,812 3,378,712 429,679 35,270	Restated Restricted £ - 10,768,170 1,682,015 106,453	Restated 2023 Total £ 90,812 - 14,146,882 2,111,694 141,723
	4,026,129	18,060,568	22,086,697	3,934,473	12,556,638	16,491,111
	923,992 299,447 3,576,659 549,723 138,720	(923,991) - 11,753,757 1,517,850 324,397	1 299,447 15,330,416 2,067,573 463,117	478,181 3,065,219 558,119 62,594	- 12,638,579 2,011,482 190,805	478,181 15,703,798 2,569,601 253,399
	4,564,549	13,596,004	18,160,553	4,164,113	14,840,866	19,004,979
	~~(923,992)~~ (185,328) (538,420)	~~923,991~~ 185,328 4,464,564	~~1~~ - 3,926,144	(31,253) (229,640)	31,253 (2,284,228)	- (2,513,868)
	(723,748) 361,598	4,649,892 3,914,607	3,926,144 4,276,205	(260,893) 622,491	(2,252,975) 6,167,582	(2,513,868) 6,790,073
	(362,150)	8,564,499	8,202,349	361,598	3,914,607	4,276,205

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 2024 | 33

Company no. 07891107

Internews Europe

Balance sheets

As at 31 December 2024

Note Fixed assets: 10 Current assets: 11 Liabilities: 12 15 Tangible assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total net assets Funds: Restricted income funds General funds Unrestricted income funds: Total funds	2024 42,136 The	Restated 2023 60,595 group	Restated 2024 2023 42,136 60,595 42,136 60,595 2,526,507 2,136,901 8,673,372 2,939,912 11,199,878 5,076,813 3,441,626 1,214,488 7,758,252 3,862,325 7,800,387 3,922,920 8,278,206 3,893,111 (477,819) 29,809 7,800,387 3,922,920 The charity	Restated 2024 2023 42,136 60,595 42,136 60,595 2,526,507 2,136,901 8,673,372 2,939,912 11,199,878 5,076,813 3,441,626 1,214,488 7,758,252 3,862,325 7,800,387 3,922,920 8,278,206 3,893,111 (477,819) 29,809 7,800,387 3,922,920 The charity
	42,136 2,533,593 8,853,719	60,595 2,144,313 3,163,837	42,136 2,526,507 8,673,372	60,595 2,136,901 2,939,912
	11,387,312 3,227,097	5,308,150 1,092,540	11,199,878 3,441,626	5,076,813 1,214,488
	8,160,215	4,215,610	7,758,252	3,862,325
	8,202,349	4,276,205	7,800,387	3,922,920
	8,564,499 (362,150)	3,914,607 361,598	8,278,206 (477,819)	3,893,111 29,809
	8,202,349	4,276,205	7,800,387	3,922,920

Approved by the trustees on 27 June 2025 and signed on their behalf by

Mark Hannam Chair of Trustees

Internews Europe Annual Report and Financial Statements 2024 | 34

Internews Europe

Statement of cash flows

For the year ended 31 December 2024
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	2024 £ 5,705,100 (15,219)	2023 £ (2,299,420) (8,548) (2,307,967) 5,471,805 3,163,837
	5,689,881 3,163,837
	8,853,719

Internews Europe Annual Report and Financial Statements 2024 | 35

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

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 2024. 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 2024 with an Unrestricted Fund surplus of £361,598. Internews Europe's in-year deficit for 2024 resulted in a carried forward unrestricted deficit to 2025 of £362,149.

Internews Europe has grown its restricted income and capabilities significantly in recent years, often investing unrestricted funds to do so. While this investment means that the charity is currently in a position of negative unrestricted funds, it is now developing a revised revenue strategy for 2025 onwards with the aims of increasing unrestricted funds, growing reserves and diversifying funding as key priorities. Furthermore, the robust cash balances and strong pipeline of future funding means that the unrestricted funds position does not limit the charity's ability to deliver its work. The Trustees consider it appropriate to prepare the accounts on the going concern basis. In the view of the Trustees, revenue visibility remains strong, project delivery controlled and there are no material uncertainties. 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. 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) General and administrative overheads

The General & Administrative (G&A) overhead element of restricted grants is recognised within unrestricted funds and G&A costs are charged to unrestricted funds as incurred (see Note 23).

i) 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.

j) 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	85%
Environment	13%
Humanitarian	3%

k) 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 2024 | 36

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

1 Accounting policies (continued)

l) Operating leases

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

m) 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

n) 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.

• o) 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.

p) 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.

• q) 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
Donations Gifts/Services in kind	2024 £ 199,702 98,208 Unrestricted	2024 £ - - Restricted	2024 Total £ 199,702 98,208	2023 Unrestricted £ 39,512 51,300	2023 £ - - Restricted	2023 Total £ 39,512 51,300
	297,910	-	297,910	90,812	-	90,812

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.

3 Income from charitable activities

Sigrid Trust The European Endowment for Democracy (EED) Internews Network Open Society Foundation Deutsche Gesellschaft für Internationale Zusammenarbeit Search for Common Ground Nationale Postcode loterij N.V BBC Media Action German Embassy in Tajikistan United Nations World Food Programme Swiss Ministry of Foreign Affairs European Commission - EIDHR Foreign, Commonwealth and Development Office Sub-total for Democracy, Human Rights & Governance Embassy of the Kingdom of the Netherlands European Commission Resource sharing agreements Swedish International Development Cooperation Agency Netherlands Ministry of Foreign Affairs (NMFA) ACTED International Partnership for Human Rights European Commission - DG Devco European Commission - ICSP	2024 £ 294,491 - 465,510 - - - 490,042 38,256 1,762,775 10,477 (7,500) - 6,142 8,245 - (4,951) 14,524 - - 2,164 6,921 22,657 Unrestricted	2024 £ 19,438 49,731 6,938,473 - - - 6,907,448 188,891 - 46,254 281,400 - 61,829 130,212 (86) 4,951 388,821 - - 43,588 119,599 347,527 Restricted	2024 Total £ 313,929 49,731 7,403,983 - - - 7,397,490 227,147 1,762,775 56,731 273,900 - 67,971 138,457 (86) - 403,345 - - 45,752 126,520 370,184	2023 Restated Unrestricted £ 302,830 - 364,130 - - - 302,257 - 1,854,840 - 2,332 - 4,048 13,387 993 52,639 36,514 - 440,230 4,513 - -	2023 Restated £ - 86,680 4,402,091 - - - 4,792,450 285,482 - - 201,730 - 107,976 320,586 30,608 107,035 358,473 (4,806) - 79,864 - - Restricted	2023 Restated Total £ 302,830 86,680 4,766,221 - - - 5,094,707 285,482 1,854,840 - 204,062 - 112,024 333,973 31,601 159,674 394,987 (4,806) 440,230 84,377 - -
	3,109,754	15,528,077	18,637,831	3,378,712	10,768,170	14,146,882

Internews Europe Annual Report and Financial Statements 2024 | 37

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

3 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 European Commission Meliore Foundation Fondation Hans Wilsdorf Resource sharing agreements Swedish International Development Corporation Agency (SIDA) UNHCR European Commission Danish Refugee Council United Nations World Food Programme Mercury Phoenix Trust Total income from charitable activities Sub-total for Environment & Economic Development Sub-total for Humanitarian & Health Income from charitable activities (continued) Souter Trust Wellcome Trust Resource sharing agreements	2024 £ 78,386 - 244,365 - - 16,917 - (66) 10,686 6,375 - - 6,770 13,033 170,962 Unrestricted	2024 £ 1,759,426 - - - - 68,798 - (3,072) 36,104 79,246 - - 142,958 69,120 - Restricted	2024 Total £ 1,837,812 - 244,365 - - 85,715 - (3,138) 46,790 85,621 - - 149,728 82,153 170,962	2023 Restated Unrestricted £ 91,173 - 292,219 6,646 1,345 13,063 - 3,306 17,016 3,729 1,182 - - - -	2023 Restated £ 1,254,667 - - 56,329 2,455 128,853 (241) 44,908 105,019 58,109 19,613 12,304 - - - Restricted	2023 Restated Total £ 1,345,840 - 292,219 62,975 3,800 141,916 (241) 48,213 122,035 61,838 20,795 12,304 - - -
	547,428	2,152,580	2,700,008	429,679	1,682,015	2,111,694
	2024 Unrestricted £ 43,128 - - - 10,501 9,262 8,147 -	2024 £ - - - - 164,510 125,111 (95) 90,384 - Restricted	2024 Total £ 43,128 - - - 175,011 134,373 (95) 98,531 -	2023 Restated Unrestricted £ 19,612 - 2,812 - 4,637 8,209 - - -	2023 Restated £ - (64,311) 17,341 (8,111) 68,363 93,171 - - - Restricted	2023 Restated Total £ 19,612 (64,311) 20,153 (8,111) 73,000 101,380 - - -
	71,037	379,911	450,948	35,270	106,453	141,723
	4,026,129	18,060,568	22,086,697	3,934,473	12,556,638	16,491,111

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.

The summary of the transactions for 2024 under the UK Foreign, Commonwealth and Development Office were as follows:

Learning Event on the Media and Information Environment in Central Asia Growing Local Independent Media for Meaningful Engagement in the Regions (GLIMMER) TOTAL	Opening balance 1 January 2024 £ - -	Income for the year £ 66,847 160,300	Expenditure for the year £ (66,847) (338,215)	Closing balance 31 December 2024 £ - (177,915)
	-	227,147	(405,062)	(177,915)

Internews Europe Annual Report and Financial Statements 2024 | 38

Internews Europe

Notes to the financial statements For the year ended 31 December 2024 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 2024 Total expenditure 2023	Cost of raising funds £ 275,750 2,157 - - - 721 - (61) - 2,322 18,558		Charitable activities		Governance - - - - - - - - 25,202 - -	Support costs £ 2,017,413 673,143 112,240 96,638 15 145,104 1,769 128,725 (48,652) 31,200 158,312	2024 Total 2023 Total £ £ 9,927,882 9,744,077 6,435,293 7,468,988 324,579 263,558 160,788 131,880 9,216 21,111 200,404 191,802 11,780 44,176 165,094 119,671 165,459 263,955 33,678 45,221 726,380 710,540
		Democracy, Governance & Human Rights £ 6,411,439 5,179,473 199,417 59,979 9,011 50,763 8,203 31,554 170,653 156 403,990	Environment/ Economic Development £ 964,543 502,924 12,322 2,345 117 1,636 - 3,061 18,256 - 140,265	Humanitarian/ Health £ 258,737 77,596 600 1,826 73 2,180 1,808 1,815 - - 5,255
	299,447 -	12,524,638 2,805,778	1,645,469 422,104	349,890 113,227	25,202 (25,202)	3,315,907 (3,315,907)	18,160,553 19,004,979 - -
	299,447	15,330,416	2,067,573	463,117	-	-	18,160,553 -
	478,181	15,703,798	2,569,601	253,399	-	-	19,004,979

Internews Europe Annual Report and Financial Statements 2024 | 39

Internews Europe

Notes to the financial statements For the year ended 31 December 2024 4b Analysis of expenditure (prior year)

Analysis of expenditure (prior 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	Cost of raising funds £ 439,072 2,055 - 2,629 - 647 - (398) - 24 34,152		Charitable activities		Governance - - - - - - - - 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	2023 Total £ 9,744,077 7,468,988 263,558 131,880 21,111 191,802 44,176 119,671 263,955 45,221 710,540
		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	69,687 (69,687)	2,257,470 (2,257,470)	19,004,979 -
	478,181	15,703,798	2,569,601	253,399		-	19,004,979

Internews Europe Annual Report and Financial Statements 2024 | 40

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

5 Net income / (expenditure)

This is stated after charging / (crediting):

Net income / (expenditure) This is stated after charging / (crediting):
		2024	2023
		£	£
Depreciation		33,679	45,221
Operating lease rentals:
	Property	61,600	61,600
Auditors' remuneration (net of VAT) :
	Audit UK ( Statutory Audit)	33,600	32,000
	Audit UK ( Statutory Audit under accrual previous year)	17,277	31,729
	Other services - donor audits	61,282	124,593
	Other services - donor audits non-SV	36,866	35,587
Foreign exchange loss		121,385	256,709

6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Total staff costs Social security costs Salaries and wages Redundancy and termination costs Employer’s contribution to defined contribution pension schemes Other human resources costs Total emoluments paid to staff were: Project staff - Internews & other direct contracted staff**	2024 3,729,873 405,032 175,626 5,113,865 4,256	2023 £ 3,507,739 399,264 157,068 5,481,062 5,619
	9,428,652 499,230	9,550,752 193,326
	9,927,882	9,744,078

The Salaries of staff of Internews International (Paris) amounted to £718,539 (2023: £876,482)

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

£130,000 - £139,999 £80,000 - £89,999 £100,000 - £109,999 £120,000 - £129,999 £60,000 - £69,999 £110,000 - £119,999 £90,000 - £99,999 £70,000 - £79,999	2024 No. 9 4 2 - 2 1 1 1	2023 No. 5 3 3 2 - - - 1
	20	14

The total employee benefits of the key management personnel were £869,550 (2023: £843,884).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £903 incurred by three members relating to attendance at meetings of the trustees, (2023: £2,817) incurred by two members relating to attendance at meetings of the trustees.

Internews Europe Annual Report and Financial Statements 2024 | 41

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

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	2024 No. 51 12 4	2023 No. 51 10 5
	67	66

Staff of Internews Network, other contractors and local staff working on Internews Europe's projects were 358 (December 2023: 412). Total staff engaged on Internews Europe's projects by the staff of Internews Network are estimated at 130 (2023: 130)

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 was the Internews Network Board representative on the Board of Internews Europe. He resigned from the Board on 6th December 2024. Chanpreet Arora is the Internews Europe Board representative on the Board of Internews Network. The IEU Chief Executive Officer (Ms. Meera Selva), Chief Operating Officer (Brian Kerr), and the company's Treasurer (Mary Trussell) , are on the board of Internews International, based in Paris.

At the end of the financial year 31.12.24 IEU had a net debtor balance with IUS of £137,236 (2023: £364,055) All transactions were at an arm's length basis. Internews Europe's subsidiary, Internews International has a net total of £211,726 (2023: £153,108) 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, (2023: £nil). 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 2024 | 42

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

10 Tangible fixed assets

The group and charity

The group and charity
Cost 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. At the start of the year Charge for the year At the end of the year Depreciation At the start of the year	Fixtures and fittings £ 59,353 -	Office equipment & computers £ 120,825 15,220	Office furniture £ 25,590 -	Total £ 205,768 15,220
	59,353	136,045	25,590	220,988
	32,644 5,935	95,468 21,346	17,061 6,398	145,173 33,679
	38,579	116,814	23,459	178,852
	20,774	19,231	2,131	42,136
	26,709	25,357	8,529	60,595

11 Debtors

Debtors
Accounts receivable Programme advances Other debtors Accrued income Prepayments	2024 £ 644,400 1,526,400 7,506 244,170 111,117 The g	2023 £ 456,758 761,541 7,506 848,776 69,732 roup	2024 2023 £ £ 644,400 456,756 1,526,400 761,541 7,506 7,506 244,170 848,776 104,030 62,321 The charity
	2,533,593	2,144,313	2,526,507	2,136,901

• 12 Creditors: amounts falling due within one year

Trade creditors Taxation and social security Other/Sundry creditors Other Intercompany Accruals Deferred income (note 13)

2024 £ 139,834 154,259 42,978 - 1,061,338 1,828,688 The g	2023 £ 603,731 111,429 102,694 - 274,686 - roup	2024 2023 £ £ 141,961 621,900 117,809 111,429 80,104 53,366 211,726 153,108 1,061,338 274,686 1,828,688 - The charity	2024 2023 £ £ 141,961 621,900 117,809 111,429 80,104 53,366 211,726 153,108 1,061,338 274,686 1,828,688 - The charity
3,227,097	1,092,540	3,441,626	1,214,488

Internews Europe Annual Report and Financial Statements 2024 | 43

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

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	2024 £ - - 1,828,688 The g	2023 £ 700,695 (700,695) - roup	2024 2023 £ £ - 700,695 - (700,695) 1,828,688 - The charity	2024 2023 £ £ - 700,695 - (700,695) 1,828,688 - The charity
	1,828,688	-	1,828,688	-

14a Analysis of group net assets between funds (current year)

Net assets at the end of the year Tangible fixed assets Net current assets	General unrestricted £ 42,136 (404,286)	Restricted funds £ - 8,564,499	Total funds £ 42,136 8,160,215
	(362,150)	8,564,499	8,202,349

14b Analysis of group net assets between funds (prior year) Restated

Analysis of group net assets between funds (prior year) Restated
Net assets at the end of the year Net current assets Tangible fixed assets	General unrestricted £ 60,595 301,003	Restricted funds £ - 3,914,607	Total funds £ 60,595 4,215,610
	361,598	3,914,607	4,276,205

15a Movements in funds (current year) - Group

Democracy and Governance Total restricted funds Environment Total funds Restricted funds: Total unrestricted funds Unrestricted funds: General Humanitarian	At the start of the year £ 3,908,939 31,059 (25,391) 3,914,607 361,598 361,598 4,276,205	Incoming resources & gains £ 15,528,077 2,152,580 379,911	Outgoing resources & losses £ 11,753,757 1,517,850 324,397	Transfers £ 181,974 - 3,354	At the end of the year £ 7,865,233 665,788 33,477
		18,060,568 4,026,129	13,596,004 4,564,549	185,328 (185,328)	8,564,499 (362,150)
		4,026,129	4,564,549	(185,328)	(362,150)
		22,086,697	18,160,553	-	8,202,349

Internews Europe Annual Report and Financial Statements 2024 | 44

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

15b Movements in funds (prior year) Restated (see Note 23)

Democracy and Governance Total restricted funds Total unrestricted funds Purposes of restricted funds Unrestricted funds: Environment Humanitarian General Total funds Restricted funds:	At the start of the year £ 5,598,006 347,477 779,091 6,724,574 65,499 65,499 6,790,073	Incoming resources & gains £ 11,548,982 1,819,475 122,111	Outgoing resources & losses £ 13,615,224 2,184,778 210,517	Transfers £ 377,175 48,884 (716,076)	At the end of the year £ 3,908,939 31,058 (25,391)
		13,490,568 3,000,543	16,010,519 2,994,460	(290,017) 290,017	3,914,607 361,598
		3,000,543	2,994,460	290,017	361,598
		16,491,111	19,004,979	-	4,276,205

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 in-depth 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.

Transfers between funds

A full review of restricted fund balances was carried out to ensure any negative balances relating to closed projects are brought to nil. Transfers have been made from unrestricted funds accordingly.

Internews Europe Annual Report and Financial Statements 2024 | 45

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

16 Depreciation charges Decrease/(increase) in debtors Increase in creditors Net cash (used in)/ operating activities Reconciliation of net income to net cash flow from operating activities Net movements in funds for the reporting period (as per the statement of financial activities)	2024 3,926,144 33,679 (389,280) 2,134,557	2023 £ (2,513,868) 45,221 886,084 (716,857)
	5,705,100	(2,299,420)

17 Operating lease commitments

In one year One to five years	2024 2023 £ £ 61,600 61,600 17,967 79,567 79,567 141,167 Property	2024 2023 £ £ 61,600 61,600 17,967 79,567 79,567 141,167 Property	2024 2023 £ £ 1,181 1,181 591 1,772 Equipment	2024 2023 £ £ 1,181 1,181 591 1,772 Equipment
	79,567	141,167	1,772	2,953

18 Capital commitments

At the balance sheet date, the charity had no capital commitments (2023: £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 2024 | 46

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

21 Subsidiary undertaking (continued)

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

Turnover The aggregate of the assets, liabilities and funds was: Surpuls/(deficit) for the year Total funds Reserves Exchange Adjustment Brought forward Gross profit Assets Liabilities Gain(loss) on ordinary activities Administrative expenses Surplus/(deficit)for the financial year	2024 £ 2,285,536	2023 £ 1,831,535
	2,285,536 (2,227,380)	1,831,535 (1,514,603)
	58,156	316,932
	58,156	316,932
	207,191 27,802 58,156	(109,741) - 316,932
	293,149	207,191
	438,317 (145,168)	411,135 (203,945)
	293,149	207,190

During the year, Internews Europe's net costs incurred on behalf of Internews International were £211,726 (2023: £153,108). These costs were stated on the Charity's balance sheet (Intercompany account) - see note 12.

22 Parent charity

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

		Restated
	2024	2023
	£	£
Gross income	20,900,805	16,491,111
Result for the year	3,877,468	(2,921,546)

Internews Europe Annual Report and Financial Statements 2024 | 47

Internews Europe

Notes to the financial statements

For the year ended 31 December 2024

23 Prior period adjustments

During the year Internews Europe changed its accounting policy for recognising the General & Administrative (G&A) overhead element of restricted grants. Previously, where a restricted grant included an element of overheads, income was initially recognised as restricted, and unrestricted G&A expenses were recognised as the grant was spent. During the year the accounting treatment was revised in order to recognise the G&A element of grants within unrestricted funds and G&A costs are charged to unrestricted funds as the Trustees consider this provides more appropriate and relevant information about the financial position and operating model of Internews Europe. The comparative figures have been adjusted to reflect this change in accounting treatment as follows:

Reserves position Funds previously reported Adjustments on restatement Cumulative effect of change as at 31 December 2022 Reversal in 2023 opening balance Impact for the year ended 31 December 2023 Funds as restated Net expenditure as previously reported Adjustments on restatement Net expenditure as previously reported Cumulative effect of change as at 31 December 2022 Impact for the year ended 31 December 2023 Net expenditure as restated Impact on income and expenditure	Unrestricted	Restricted 31 December 202	Total 2	Unrestricted 3	Restricted 1 December 202	Total 3
	£ 65,499 556,992 - -	£ 6,724,574 (556,992) - - 6,167,582	£ 6,790,073 - - -	£ 40,329 (556,992) 556,992 321,270	£ 4,235,876 556,992 (556,992) (321,270)	£ 4,276,205 - - -
	622,491		6,790,073	361,598	3,914,607	4,276,205
				Unrestricted 3	Restricted 1 December 202	Total 3
				£ (25,170) (556,992) 321,269	£ (2,488,698) 556,992 (321,269)	£ (2,513,868) - - -
				(260,893)	(2,252,975)	(2,513,868)

Net expenditure as restated

Details of adjustments

Cumulative effect of change as at 31 December 2022 Reversal in 2023 opening balance Impact for the year ended 31 December 2023

Adjustment of 2022 G&A as a result of a change in accounting policy to calculate this based on income rather than expenditure, as previously reported. This is reflected in the 2023 opening balance

Reversal of the 2022 G&A adjusted in the opening balance of 2023

Adjustment of 2023 G&A as a result of a change in accounting policy to calculate this based on income rather than expenditure, as previously reported. This is reflected in the 2024 opening balance

Internews Europe Annual Report and Financial Statements 2024 | 48