Registered charity number 115077R Registered company number nA27fj287 International Broadcasting Trust (A charitable company limited by guarantee) Trustees, Report and Financial Statements for the year ended 31 December 2020 International Broadcasting Trust Report and Financial Statements Contonts Page Report of the trustees Legal and adrninislralive informalicin Independent examiner's report Statement or rinan¢iai activities Balance sheet Note3 forming part of the financisl 8t8tementa 8-12 International Broadcasting Trust Trustees, Report Year ended 31 December 2020 The Iruslees present their report and accounts for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the accounts and coniply wilh the Charities Act 2011, Ilie Conipanie5 AGt 200G. and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffoclive January 20191- Legal and admlnlstratlve Informatlon as sel out on page 4 forms part ol Ihls report. ObJ&¢tlves and activitics Gharitable obiectivos The International Broadcasting Trust is an educational charity working to promote high quality coverage of the wider world across all media. We work with the media lo ensure that audiences remain engaged with global issues. We provide our members with regular access lo influenlial journalists and editors so that they can maximise their impact in a rapidly changing media landscape. Revlew of actlvltles For a full report of activities please refer lo the Trust's annual report published separately. Achievem9nts and performance IBT has successfully focused on three key areas of aclivily.. Advocacy- lobbying government, regulators and broadcasters Research - tracking changes to the media landscape and providing an èvidence base for our advocacy Capacity building- working with our members lo help them lo achieve greater impact with their media messaging Publib beiiefit The Trustees confirm that they have complied with the duly in Section 4 of the Charities Act 2011 10 h3V8 dug ragard to Ihg Ch3rily Commission's general 9uidan¢e on public ben&fil and that the activiligs carried out by the Charity during the year were all undertaken in order lo further the Charity's aims for the benefit of the Charity s beneficiaries. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have sel. The Trustees believe there is public benefit in raising awareness amongst the UK public about the lives of people in developing countries, the issues which affect Ihem and th& ways in which all our lives are inlerconnecled. We have gathered evidence, lobbied broadcasters and published research lo support these goals. Financial review The Charity gcncratcd incomc for thc ycar of £95,90512019.. £97.1001 mainly by way of mtsmbership subscriptions of £95,500 {2019.' £95,500). Expenditure in the year was £84.88612019.. £124.5271 including expenditure on charitable activities of £81,28812019.' £120,666). Inteinalional BroadGastin9 Trust Trustees, Report Year ended 31 December 2020 This resulted in a surplus for the year of £11,109 {2019'. deficit of £27,427), increasing the general fijnd to £134.93712019.' redLicing to 9123.828) Reserves pollcy Unreslricled reserves.. The Board of Tru8ta9s havo examined Iha raquiramonls for holding an appropriatè level of unrestricted rese￿eS in order lo safeguard the day lo day running of the Charity and provide underlying financial stability to protect Its long-term projects. 11 has been resolved that a reasonable level of unrestrlcled resetves for this purpose equates lo twelve monlhs basic budgeted running costs of the organisalion 1£90,0001. The unreslri¢led reserves al the end of the year are £134,937 which exceeds this level. Asset ¢over for funds Thè 2gsets nf Ihp. trii*t 2rp. qijffirignt tn mgpt thè triJ8t'% obligations on a fund-by-fund basis. Future plans We shall continue lo focus on our four principal areas of activity, but we shall also respond lo the changing media landscape, particularly the growing importance ol new media. Structure, governance and management International Broadcasting Trust (the 'Charity'l was incorporated in England and Wales as a private company limited by guarantee, as defined by the Companies Act 2006, on 31 October 2012. 11 was registered as a c.harity in Fngl2nd WAlp.8, And thp Ar.tiviti>% rjf the Charity began on 12 February 2013. The Charity is controlled by ils Articles of Association. The guarantee of each member is limited 10£10. Organisation The board of Iruslees, which musl comprise al least three trustees with no maximum, administers the Lharily. I he Esoard mèeis four limes a year. An Executive Director is appolnted by the trustees to manage the day-lo-day operations of the Charity. To facililale effective operations, the Executive Director has delegated aulhorily, within terms ol delegation approved by the trustees for operational mallers including finance, employment and development activity. Trustee Induction and training New Iruslees undergo an orientation day lo brief them on their legal obligations under charity and company law, the conlenl of the Memorandum and Articles of Association and review the budgets and recent financial slalemenls. Risk statement I he ESoarsed and explained in the financial slalemenls. piepare the accounts on a going concern basis unless il is inappropriate lo assume Ihal the Charity will continue in operation. -tcntly. The Iruslees are responsible for keeping proper books and records which disclose with reasonable accuracy al any lime the financial position of the Charity and lo enable them lo ensure that the accounts comply with the applicable law. They are also responsible for saleguar(ling the assets of the company and hence for taklng reasonable steps for the prevention and detection of fraud and other iireguln ol your charity's accounts as carried out under section 145 01 the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Oireclions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no mallers have come lo my allenlion in connection with the examination giving rne cause lo believe that in any material respect.. accounting records were not kept in respect ol the Company as required by section 386 of the 2006 Acl., or the accounts do not accord with those records.. or the accounts do not comply with the accounting requirements of section 396 01 the 2006 Act other Ih8n any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination.. or the accounts have not been prepared in accordance with the methods and principles ol the statement of Recommended Practice lor accounting and reporting by charities zpplicable to charities preparing their accoLJnls in a¢¢ordan¢e with the Financial Reporting Standard applicable in the UK (Sl Id R¥yubliu uf Ii¥ln lo which altgntion shoul¢J bo drawn in this roport in ordèr to ènabla a propar undèrslsnding of thè accounts to be roachod, J_A LLP Nèil Firblayson, Partner IACA, ICAEWI For 2nd on behalf ol Moore Kingston Smith Chartered Accountants Devonshire House eo Qubw¥ll Rudd London EC1M 7AD Dale.. 17 May 2021 International Broadcasting Trust statement of Financial Activities Ilncorporating Incom• and ExpèndrturD Account) For the year ended 31 December 2020 2020 UnTestrl¢t8d 2019 Unie5tiiGt¥d Nol¢$ Income Grants and donations Lharitable aGlivitie5 Investment income - bank interest receivable Other income 359 95,500 136 399 95,500 284 917 Total in¢ome 95,995 97,100 Expenditure Costs of gen&r81ing funds 3.598 3,861 Expenditure on ¢harilable activities 81,288 120,666 Total re50ur¢es expended 84,886 124,527 Net •xpendltur& for the year 11,709 121,4111 Net movement in funds 11,109 127.4271 Fund balances al 1 January 2020 123,828 151.255 Fund balan¢os at 31 Dcccmbcr 2020 12 134,937 123,8?8 The statement of financial aftlivities incliide8 911 gAin8 nr Insqp.8 fnr thg. yksjr. All inr.ftmp xn(I pxppndilur8 derive from continuing activities. International Broadcasting Trust Registered Number- 08275287 Balance Sheet as at 31 December 2020 Notes 2020 2019 Current assets Debtors Cash at bank and in hand 5,109 133,662 10,784 116,314 138,771 127,098 Credllors.. amounts falling due withln one year 3,834 3,270 Net current assets 134,937 123,828 Nèt assets 134,937 123,828 Funds 12 Unrestricted funds General funds 134,937 123,828 Total funds 134.937 123.kS28 The OITectors are satlsfled that the company 15 erilitled lo exeiFipliuii fruiii Ili¥ r¥guii¥iiiviit lo oblaiii ali audit under section 477 of the Compar)ies Act 2006 and that the rnemb&r has not required the company lo obtain an audit in accordance with seclion 476 of the Act. The diieGtor3 aGKnowledgE their responsibilities ftrr complying with the requirements of the Companie3 Aot 2006 with respect lo accounting records and the preparali(>n ol accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to tomp3ni@S SLibjecl to thp. qmall rDmpgnip.q rp.gimg. The financial slalemenls were approved bv the trustees on 22 April 2021. Rose Caldwell Dir¢Glor aiid Chair of the Trustees International Broadcasting Trust Notes to the Accounts For th• y•ar 9nd•d 31 December 2020 Accounting policies The principal accounling policies are summarised below. The accounting policies have been applied consislenlly throughout the year. Basls of a¢¢ounling Thè accounlÈ (financial Étalomonts} havo boon proparod undgr th¢ historic21 cost convention with items rp.r.ngni*p.d al cost tsr Iransaclion value unless olhetwise staled in the relevant notes lo these accounts. The linan¢ial slalemenls have been preparea In accorcjance Wllh the btatemeni of Recommended praciice.. Accouniing an¢ Repoiliiiy by Charities preparing their acGounls in ac¢(>rd3nce with the Financial Reporting Standard applicable in the United Kingdom and Republic ol Irtsland IFRS 1021 lelleclive 1 January 20191. the Charities Act 2011 and the Companies Acl 2006. Going ¢on¢ern and Covld-19 The Trustees IDireclorsl have assessed the risk of the current Covid-19 pandemic, and h8ve concluded that it does not have a material irnpacl on the going concern status of the Trust. The accounts have been prepared on a going ooncern basis. Funds slru¢ture and accounting Unieslricled ILJnds are available lor use al the discfelion ol the trustees in furtherance tsf the general objectives c>1 the charily. Income re¢ognltlon AII iiiiviiie 16 iiiknluded iii tlie stat¢m6nt of finanGial aGtivities when the charity 13 entitled to the income end thc amount can be quantified with reasonable accuracy. The following specific policies are applied lo particular categories of income.. Grants, donations and membership fees are recognised in full in the Slalemenl of Financial Activities in the year In which they are receivable. Thi5 amount covers donalions received from the general public, grants from member organisations and similar bodies and annual membership fees Irom the member organisalions. Inveslmgnl incomè is included when receivable. Expéndlture recognition ExpendilLJre is recognised on an acciual basis as a liability is incurred. Expenditure in¢ludes VAT which cannot be recovered, and is reported as part ol the expendilure to which it relates. A proportion ol spe¢ified staff costs are allocated lo the costs ol raising funds. Charitabltr expenditure compri3eg thoso ¢0 Incurrcd by thc charity in tho delivery of itB acliviliès and s8rvictrs for ils beneliGiaries. It includes bolh costs that can be alloc8led dire¢Uy to such activities and thos& cosls of an ifjdirect nature necessary to support them. Governance costs include those costs associated with meeting Ihe conslilulional and slalulory requirements ol the charity and include the independent examination fee5 and costs linkod Ic> the strategic management of the charity. All costs are allocated beiween the expenditure ¢alegories c>f the statement of financial 8clivities c>n a basis designed lo reflect the use ol the resource. Costs relating lo a particular activity are allocated directly. others are apportioned on an appropriat& basis e.g. staff time. Pensions The ¢harily operates a defined contribution pension scheme. Contributions are charged Its the slatemenl of financial activilies as they Decome payable in accordance with Ihe rules Of the scnemes. International Broadcasting Trust Notes to the Accounts For tho year onded 31 Dèeèmbér 2020 2 Charitable activities membership subscriptions 2020 Unreslricled 2019 Unrestricted Action Aid Age International AMREF Heallh Alrica British Red Cross oOGie ,uu 2,OOC> 1,000 5,000 3,500 5,000 2.500 1,000 1.000 3,000 1,000 3,000 2,000 1.000 3.000 2.500 1.000 3,000 1,000 5,000 1,000 5,000 1,000 3,000 5,000 2,000 1,000 6,000 3,500 5,000 2.500 CAFOD Christian Aid e.onr.g.rn Woddwidp. I IK Habiiat lor Humanity Hupe iiri(J Huiii¥s lur CliilUIE*II Human Appeal Humanity and Inclusion Islarllie Relief UK Malaria C(>nsortium Maiana NC> More UK Medicins Sans Fronliertss Mercy Corps Scotland Minc- IKdvivOry Group Muslim Hands ONE Campaign OXFAM Plan Inlernalional UK Plan UK Practical Action Salerworld Save the Children Sightsavers Ttrdi fuii The Donkey Sanctuary The Elders UNHCR UNICEF Water Ald Weber Shandwick Women for Women Inlernalional WWF Others 1,000 1,000 3.000 3,000 1,000 3,000 2,500 1,000 5,000 1,000 s,000 1,000 3,000 5,000 5,000 5,000 3,000 1,000 5,000 3,000 1,000 4,000 5,000 1,000 1,000 5,000 6,000 5,000 1,000 1,000 5,000 5,000 95,500 95,500 International Broadcasting Trust Notes to the Accounts Forthè yaar •nd•d 31 D•comb•r 2020 3 Charitable expenditure= In¢rèaslng awareness of the developing world 2020 2019 Freelance producer Wrilerlresearcher DioilAI r.ommLJnicalions officèr Training Olli¥i yiuj¥il 26.785 33.340 28,ti70 14.252 2,276 1,455 14.534 2,000 43,319 79.993 Support costs Stall costs Wphqilp Office accommodation Ollice services Memberships Accountancy Bank charges Other ¢osts 17,112 7.836 4,320 770 IlJ,JbV 8.178 5,263 471 1.075 3.150 120 3,300 132 615 34,085 36.617 Governance costs (Note 4 3,884 4,056 Total charitabl• oxpanditur• 81.288 4 Governance costs 2020 2019 Staff costs Independent oxamination 2,114 1,770 2,268 3.884 4,056 Nèt expenditure for the year 2020 2019 Thi5 15 slated afl¢r ¢harging-. Indgpgnd9nt examiner's fees 1.770 1.788 10 International Broadcasting Trust Notes to the Ac¢ount$ For the year ended 31 December 2020 6 Staff costs and numbers 2020 2019 Staff costs a5 follows". Salary- Executive Director .qnp.IAI.gpp.Iirity trn¢t Pension costs 18,024 18,025 1.304 4,800 4,800 22.824 24.129 81iared employee uiider joint eriiploymei)t GoiitraGt Digital Communications Officer 14,534 14,252 Freelancers Management and editorial 26.785 33,340 Total staff costs 64,143 71,721 The charity considers its kèy management personnel lo be the Trustee and the Executive Director. l olal employee benefits lo key management personnel during the year. including employtsrfs national insurance and pension conlribulions, amounted Ic> £49.60912019'. £57,469). The charity operates defined ¢ontribution pension schemes for ils employees and made conlribuliDns during the year 01 £4,80012019. £4,800). The average weekly nurnbei of employees during the year, calculated on the basis of full lime equivalents. was as f(>llows'. 2020 No. 2019 No. Executive director Digital communications officer 7 Transactions with related partie5 None of the Iruslees received any remuneration or reimbursed expenses during the year12019.. £Nill. 8 Taxatlon As a reoislered chaiily. International 8103dcasting Trust is exempl from lax on income and gains f811ing within Part 1101 the Corporzlion Tax A¢1 2010 to the extent that Ih6s& ale applied to ils charitable objects. No tax charges have arisen in the charity. The charity is iegisteied lor Gill Aid with HM Revenue & Customs under reference number EW57252. International Broad¢asting Trust Notes to the Accounts For th• y4ar •nd4d 31 D•¢omber 2020 9 Dèbtors 2020 2019 A¢crued income Other debtors PrépaymÈnls 3,000 1,012 1.097 6.000 J,104 1.080 5,109 10,784 10 Credltors: amounts falling due within one year 2020 2019 Accounts payable Social security and other taxation A¢¢rued expenses 17 547 3,270 3,270 3,834 3,270 11 Analysis of nel assets between funds 2020 Unrestricted 2019 Unrestricted Currenl assets Curr9nl liabilitiss 138,771 13.83dl 127,098 1.2.?7n} Nel assets 134,937 123,828 12 Movement In funds At1 January Expend. Iture At31 Dacember Income Currènt year Unrestricted tund5- General funds 123,828 95,995 184.8861 134,937 Prior year UnriLStrictpd fiJnd8' General funds 151,255 97,100 1124.5271 123.828 12