Registered charity number 1149518 Registered company number 08016498 The Pericles Foundation Report and Accounts 30 April 2024 •ADVAZMIF* 3010112025 COMPANIES HOUSE A07 #155 The Pericles Foundation Report and accounts Contents Page Charity & company information Trustees, report Statement of financial activities Balance sheet Notes to the accounts The Pericles Foundation Company Information Trustees Nicolas Maclean Antony Polonsky AccounLints Sultan Business Management Limited Elm Point East End Way Pinner HA5 38S Re8islered office 99 Chelmsford Road Souihgate London N14 SPY Registered company number 08016498 Trustees Annual Report: for the Pericles Foundation 1 May 2023 to 30 April 2024 Report according to instructions from 'Charities SORP 2005, Accounting and Reporting by Charities.. Statement of Recommended Practice (Revised2005). el A. 1. Name, Registration numbers, Directors and Trustees. The Pericles Foundation Company Number: 08016498 Registered Charity Number: 1149518 Company Directors Mr. Benjamin BILSKI Date of birth: 01/1211979 Nationality: British Occupation: Civil Servant and Author Nicolas Wolfers Lorne MACLEAN OF PENNYCROSS Date of birth." 0310111946 Nationality: British Occupation: International Consultant Professor Antony POLONSKY Date of birth: 2310911940 Nationality: British Occupation: University Professor 99 Chelmsford Road Southgate London United Kingdom N14 SPY 30 Malwood Road London United Kingdom SW12 8EN Flat 18, BroadLands Lodge 18 Broadlands Road Highgate London United Kingdom N6 4AW Mr. Bilski is Executive Director of the Charity. Nicolas Maclean and Professor Polonsky are Trustees. The registered address of the charity is 99 Chelmsford Road Southgate, London United Kingdom N14 SPY 2. Structure, Governance and Management The company structure of the Pericles Foundation is a Company Limited by Guarantee, and the Charity structure is Charitable Association. The governing document of The Pericles Foundation uses the template from the Charity Commission of the Articles of Association for a Charitable Company. (http:/lvNrfw.charitycommission.gov.uklmedia1947031gd1textc.pdf). This document specifies the procedures for appointment of trustees. In the first meeting of the Board of Trustees on 16 May 2012, the trustees assumed their responsibilities for five years renewable, and appointed Benjamin Bilski as Executive Director. 3. Financial overview See pages 6-10. 4. Funds held as custodian trustee on behalf of others Not applicable. S. Public benefit statement The trustees and executive director confirm they have complied with their duty to have due regard to the guidance on public benefit published by the Commission in exercising their powers or duties. Objectives and Activities b, c, d: The objects (a) of the charity as set out in the governing document. This description includes the aims (b) 8nd strategies {d) to achieve these aims. The main activities in the first year (c and e) were the continuation of research and publication projects that were initiated before the company's founding. To advance the education of the public in general bythe promotion of novel academic and interdiscipLinary research to a broad audience. The charityshall be a research institute with an academic focus, and will achieve its Objects by: Organising. facilitating. commissioning, translating. publishing and promoting new research of an interdisciplinary character, with a focus on the social sciences and the humanities; including in history, culture, law, political science, the impact of science on society. business. media, security studies and related areas in philosophy; Promoting and supporting research and education of an interdisciplinary and multidisciplinary character: Promoting and supporting the improvement of academic teaching; Promoting new talent by facilitating the (re)publication of {post-)doctoral research to a broader audience: Translating and pubLishing new research from other languages into English: Partnering with, and promoting cooperation between other charities, research institutes, universities or academic faculties, nationally and internationally, for joint events, research or publication projects. The activities, events and publications of the Foundation shall be targeted at the academic community, professional communities. policymakers and the generaL public. In this financial year. we supported one major project. partneringwith directors and donors of the Forgotten Exodus Project, to raise awareness of the Forgotten Exodus of the last Jews of Poland, who were persecuted with by the Communist regime of Poland in 1968. Most of the expense was to paythe lead researcher and web-deveLopment company. We have since changed web-providers, but the website is live here.. Both Antony Polonsky and Benjamin Bilski are listed as advisers in this project. We have not established an off ice with staff. The Pericles Foundation has not engaged in grant-making or social programme activities. We have had volunteers and advisers to support specific projects, admin or fundraisingwork. As this is a part time endeavour, we are currently focused on establishing more institutional partnerships forthe longterm. We have also re-focused rnission and our programmes for publications in three main areas: history, policy and innovation- as the most important research areas to improve the quality of public debate. 4. Achievements and Performance a) The Pericles Foundation has published six books over the years, supporting a major conference, and an educational website. A large book project is currently in development. More projects and partnerships are being planned for the year ahead- includingan overhaul of ourwebsite. b) A new fundraising strategy, and new relationships were estabLished with potential donors, but no significant fundraising activities were undertaken in tlie past year. Moving forward, we will prioritise institutional partnerships as a core part of our fundraisingstrategy. c) No investments have been made in the past year. d) The first three years of operation were focused mostly on the work for the Breakthrough book project and on laying the groundwork of our structure, branding and expanding our network of individuals, scholars, editors, translators, publishers and institutional partners. In the second yearwe have launched our website (www.periclesfoundation.org) which elaborates on the research focus of our current projects. Five more publications and a website have been published since. During a more dormant phase and the pandemic, activity was minimal but focused on long term planning. We partnered to launch the Forgotten Exodus project in 2023. 5. Financial review Income in 2023-24 was £ 105,S42 Net expenditure £98,165 6. Plans for future perlod We are currently revising ourvision and we will focus in the year ahead on building institutional partnerships with key organisations, who can be partners for series, rather than one-off projects. Our long-term mission remains the development of future talent, improve the quality of public discourse and build relationships between respected Institutions. The emphasis of our research activity IS to develop of high quality and accessible books and book series, that are relevant for young leaders, policy makers and scholars, but also accessible to a broader audience. Our charitable mission is and remains, the 8dv8ncement of education of the gener81 public, and we hope to achieve this both directly by our publications, as well as indirectly, by nurturing young talent as the educators of the future. Benjamin Bilski Nicolas Maclean Executive Director Board of Trustees The Pericles Foundation Statement of Financial Activities for the year ended 30 April 2024 2024 2023 Income from.. tlonations and legacies 105,542 18,580 Cost of charitable activites Governance costs 197,0581 11,1071 14,379) 1937) Expenditure 198,165) 15,3161 Other income Interest receivable Interest payable 461 454 123 iio) Net income for the yearl Nel movement in funds 8,269 13,259 Totsl funds at l May 2023 14,282 1,023 Totsl funds at 30 April 2024 22,551 14,282 The statemenl of financial activitie5 include5 all gains and1055es recognised in the year. All aclivilies derive from continuin8 operatlOn5. The notes on pages 8 to 10 form an integral part of Ihese accounts. The Pericles Foundation Registered number: Balance Sheet as at 30 April 2024 08016498 Notes 2024 2023 Fixed assets Tangible assets 1,995 827 Current assets Cash at bank and in hand 20,556 13,804 Cr￿lIors. amounts falling due within one year (3491 Nel current assets 20,556 13,455 Net assets 22,551 14,282 Income funds Unrestricted funds 22,551 14,282 22,551 14,282 The tru5tee5 are satisfied that the company is entitled to exemption from the requirement lo obtain an audit under Section 477 of the Companies Acl 2006, The members have not required the company lo obtain an audit in accordance wilh section 476 of the Acl. The trustees acknowledge their responsibil ities for complying With the requirements of the Companies Acl 2006 with respect to accountin8 records and the preparation of accounts. The accounts have been prepared and deliveied in accordance with ihe special provisions applicable to companies subject to the Small companies re8ime and in accordance with FRS102 SORP Nicolas Maclean Trustee Approved by Ihe board of trustees on january 2025 The Pericles Foundation Notes to the Accounts for the year ended 30 April 2024 Accounling policies 8asis 0￿p￿paratIon The financial statements have been prepared in accordance wilh Accounting and Reporting by Charities.. Stalefflenl of Recommended Practice applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) leffeclive 1 January 20151 (Charilies SORP IFRS 102), the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The charity is a Public Benefil Entity as defined by FRSI 02. Reconciliation with previous GenerallyAc￿p1edAcC0Unting Practl In preparing the accounts. the trustees have considered wheiher in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative ilems was required. No restatements are required. Charilable fund5 Unrestricted funds are available for use at the discretion of the Board of Trustee5 in furtherance of their charitable objectives. Incoming resources Income is recognised when the charity is legal ly entitled to it after any performance condilions have been met. Cash donations are recognised on receipt. Resources expended Expenditure is recognised on an accruals basis. Governance costs are the costs associaled with running the charity a5 opposed to those associated with fundraisin8 or charitable activities. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with bank5, Other short-term liquid inveslments with maturities of three months or less. Debtors Short term debtors are measured at transaction price (which is usually the invoice pricel, less any impairment losses for bad and doubtful debts. Loans and other financial a55ets are initially recognised at transaction price including any transaction costs and subsequently measuied al amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debis. Creditors Short term creditors are measured at transaction price (which is usual ly the invoice pricel. Lo3n5 and other financial liabil ities are initially recogni5ed al transaction price net of any transaction costs and subsequently measured at amortised cosi determined usin8 the effective inteiest method. The Pericles Foundation Notes to the Accounts for the year ended 30 April 2024 2 Employees 2024 Number 2023 Number Average number of persons employed by the company 3 Tan8ible fixed assets Plant and machinery etc Cost At l May 2023 Additions 1,098 1,818 2,916 AI 30 April 2024 Depreciation At 1 May 2023 Charge for the year At 30 April 2024 271 650 921 Nei book value At 30 April 2024 1,995 AI 30 April 2023 827 4 Creditors: arnounts fallin8 due within one year 2024 2023 Other creditors 349 5 Windin8 up or dissolution of the charity If upon winding up or dissolution of the charity there remain any asset5, after the 5ati5faction of all debts and liabil itie5, the a55ets represented by the accumulated fund shall be transferred to some other charitable body or bodie5 having similar objects to the chaiity. 6 Trustees, remuneration Neither the trustee5 nor any per50n5 connected with them have received any remuneration, either in the current year or the prior year. The Pericles Foundation Notes to the Accounts for the year ended 30 April 2024 7 Members, liability The charity in incorporated under ihe Companies Act 1985 and 15 limited by guarantee. each member having undertaken to contribute such amounts not exceeding one pound a5 may be required in the 8 Other information The Pericles Foundation is a piivate company limited by guarantee and incorporated in England. Its registered office i5- 99 Chelmsford Road Southgate London N145PY The average number of people employed by the company was 1 12023; 11