2022-12-31-accounts - International Broadcasting Trust

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Registered charity number 1150778

Registered company number 08275287

International Broadcasting Trust (A charitable company limited by guarantee)

Trustees' Report and Financial Statements

for the year ended 31 December 2022

International Broadcasting Trust Report and Financial Statements Contents

	Page
Report of the trustees	1-3
Legal and administrative information	4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes forming part of the financial statements	8-12

International Broadcasting Trust Trustees’ Report Year ended 31 December 2022

The trustees present their report and accounts for the year ended 31 December 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charities Act 2011, the Companies Act 2006, 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 (FRS 102).

Legal and administrative information as set out on page 4 forms part of this report.

Objectives and activities

Charitable objectives

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 to ensure that audiences remain engaged with global issues. We provide our members with regular access to influential journalists and editors so that they can maximise their impact in a rapidly changing media landscape.

Review of activities

For a full report of activities please refer to the Trust's annual report published separately.

Achievements and performance

IBT has successfully focused on three key areas of activity:

Advocacy - lobbying government, regulators and broadcasters
Research – tracking changes to the media landscape and providing an evidence base for our advocacy
Capacity building – working with our members to help them to achieve greater impact with their media messaging

Public benefit

The Trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit and that the activities carried out by the Charity during the year were all undertaken in order to 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 set. 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 them and the ways in which all our lives are interconnected. We have gathered evidence, lobbied broadcasters and published research to support these goals.

Financial review

The Charity generated income for the year of £86,862 (2021: £91,235) mainly by way of membership subscriptions of £86,000 (2021: £90,000).

Expenditure in the year was £81,940 (2021: £72,902) including expenditure on charitable activities of £78,342 (2021: £69,304).

International Broadcasting Trust Trustees’ Report Year ended 31 December 2022

This resulted in a surplus for the year of £4,922 (2021: £18,333), increasing the general fund to £158,192 (2021: £153,270).

Reserves policy

Unrestricted reserves:

The Board of Trustees have examined the requirements for holding an appropriate level of unrestricted reserves in order to safeguard the day to day running of the Charity and provide underlying financial stability to protect its long-term projects. It has been resolved that a reasonable level of unrestricted reserves for this purpose equates to twelve months basic budgeted running costs of the organisation (£100,000). The unrestricted reserves at the end of the year are £158,192 which exceeds this level.

Asset cover for funds

The assets of the trust are sufficient to meet the trust's obligations on a fund-by-fund basis.

Future plans

We shall continue to focus on our three principal areas of activity, but we shall also respond to the changing media landscape, particularly the growing importance of digital media.

Structure, governance and management

International Broadcasting Trust (the ‘Charity’) was incorporated in England and Wales as a private company limited by guarantee, as defined by the Companies Act 2006, on 31 October 2012. It was registered as a charity in England and Wales, and the activities of the Charity began on 12 February 2013. The Charity is controlled by its Articles of Association. The guarantee of each member is limited to £10.

Organisation

The board of trustees, which must comprise at least three trustees with no maximum, administers the Charity. The Board meets four times a year. An Executive Director is appointed by the trustees to manage the day-to-day operations of the Charity. To facilitate effective operations, the Executive Director has delegated authority, within terms of delegation approved by the trustees for operational matters including finance, employment and development activity.

Trustee induction and training

New trustees undergo an orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association and review the budgets and recent financial statements.

Risk statement

The Board of Trustees have examined the major risks to which the Charity is exposed, and systems have been established to mitigate these risks. Significant external risks to funding have led to a strategy plan based around key partnerships, funders and stakeholders.

International Broadcasting Trust Trustees’ Report Year ended 31 December 2022

Statement of trustees’ responsibilities

Law applicable to Charities in England and Wales requires the trustees to prepare accounts for the financial year which give a true and fair view of the state of affairs of the Charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the year then ended.

In relation to the International Broadcasting Trust the Board of Trustees are responsible for preparing the account in accordance with applicable law and the United Kingdom Generally Accepted Accounting Practice and in so doing:

select suitable accounting policies and then apply them consistently.
observe the methods and principles of the Charities SORP.
make judgments and estimates that are reasonable and prudent subject to any material departures disclosed and explained in the accounts.
state whether applicable accounting standards and statement of recommended practice have been followed subject to any material departures disclosed and explained in the financial statements.
prepare the accounts on a going concern basis unless it is inappropriate to assume that the Charity will continue in operation.

The trustees are responsible for keeping proper books and records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with the applicable law. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board of trustees on 2023 and signed on its behalf. 10th May

Rose Caldwell Director and Chair of the Trustees

International Broadcasting Trust Legal and Administrative Information

Reference and administrative information

Charity name: Charity registration number: Company registration number: Registered office and operational address:

International Broadcasting Trust

1150778 08275287

Canopi 7-14 Great Dover Street London SE1 4YR

Directors and Trustees

Richard Sumray Jonathan (Jack) Lundie Rose Caldwell Helen Palmer Alistair Burnett Maryam Mohsin Abdul Basit Ali (resigned 13 June 2022) Nana Crawford (resigned 23 January 2022)

Secretary Chair Treasurer

Executive Director (non-trustee appointment)

Mark Galloway

Bankers

CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ

Solicitors

Bates, Wells & Braithwaite 138 Cheapside London EC2V 6BB

Independent Examiner

Moore Kingston Smith Chartered Accountants Floor 6 9 Appold Street London EC2A 2AP

Independent examiner's report to the trustees of International Broadcasting Trust charitable company (the Company)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1 accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2 the accounts do not accord with those records; or
3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4 the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Neil Finlayson, Partner (ACA, ICAEW)

For and on behalf of Moore Kingston Smith Chartered Accountants Floor 6, 9 Appold Street London EC2A 2AP

Date: 10 May 2023

International Broadcasting Trust Statement of Financial Activities (incorporating Income and Expenditure Account) For the year ended 31 December 2022

2022 Unrestricted Notes £ Income Grants and donations 344 Charitable activities 2 86,000 Investment income - bank interest receivable 439 Other income 79 Total income 86,862 Expenditure Costs of generating funds 3,598 Expenditure on charitable activities 3 78,342 Total resources expended 81,940 Net income for the year 5 4,922 Net movement in funds 4,922 60 Goswell Road 153,270 Fund balances at 31 December 2022 12 158,192	2021 Unrestricted £ 356 90,000 11 868
	91,235
	3,598 69,304
	72,902
	18,333 18,333 134,937
	153,270

The statement of financial activities includes all gains or losses for the year. All income and expenditure derive from continuing activities.

International Broadcasting Trust Registered Number: 08275287 Balance Sheet as at 31 December 2022

Notes £ Current assets Debtors 9 10,690 Cash at bank and in hand 154,298 164,988 Creditors: amounts falling due within one year 10 6,796 Net current assets Net assets 11 Funds 12 Unrestricted funds General funds Total funds 60 Goswell Road		2021
£ 10,690 154,298	£ 4,229 152,887	£ 153,270
164,988	157,116
6,796	3,846

		153,270
		153,270
		153,270

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that the member has not required the company to obtain an audit in accordance with section 476 of the Act.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 10th May 2023

Rose Caldwell Director and Chair of the Trustees

International Broadcasting Trust Notes to the Accounts For the year ended 31 December 2022

1 Accounting policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of accounting

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and the Companies Act 2006.

Funds structure and accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.

Income recognition

All income is included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

Grants, donations and membership fees are recognised in full in the Statement of Financial Activities in the year in which they are receivable. This amount covers donations received from the general public, grants from member organisations and similar bodies and annual membership fees from the member organisations.

Investment income is included when receivable.

Expenditure recognition

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.

A proportion of specified staff costs are allocated to the costs of raising funds.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examination fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the statement of financial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. staff time.

Pensions

The charity operates a defined contribution pension scheme. Contributions are charged to the statement of financial activities as they become payable in accordance with the rules of the schemes.

International Broadcasting Trust Notes to the Accounts For the year ended 31 December 2022

2 Charitable activities - membership subscriptions Action Aid Age International AMREF Health Africa British Red Cross Society CAFOD Christian Aid Concern Worldwide UK Deaf Child Worldwide Disasters Emergency Committee Freedom Fund Global Canopy Habitat for Humanity Hope and Homes for Children Humanity and Inclusion Institute of Development Studies International Institute for Environment & Development International Rescue Committee Islamic Relief UK Malaria Consortium Malaria No More UK Medicins Sans Frontieres Mercy Corps Scotland Mines Advisory Group Muslim Hands ONE Campaign Open Society Foundations Overseas Development Institute OXFAM Plan International UK Plan UK Practical Action Restless Development Saferworld Sightsavers Tearfund The Donkey Sanctuary The Elders Tree Aid UNHCR UNICEF Water Aid Weber Shandwick Women for Women International World Food Programme WWF	2022 Unrestricted £ - 500 1,000 5,000 3,500 5,000 2,500 - 500 1,000 1,000 - 1,000 1,000 500 500 1,000 3,000 2,000 1,000 3,000 - 1,000 3,000 1,000 1,000 500 5,000 1,000 5,000 1,000 1,000 3,000 5,000 5,000 3,000 - 1,000 1,500 2,500 5,000 1,000 500 1,000 5,000 86,000	2021 Unrestricted £ 2,500 500 1,000 5,000 3,500 5,000 2,500 500 500 - - 1,000 1,000 1,000 500 500 500 3,000 2,000 1,000 3,000 2,500 1,000 3,000 1,000 1,000 500 5,000 1,000 5,000 1,000 - 3,000 5,000 5,000 3,000 1,000 1,000 1,500 2,500 5,000 1,000 500 1,000 5,000
		90,000

International Broadcasting Trust Notes to the Accounts For the year ended 31 December 2022

3 Charitable expenditure: Increasing awareness of the developing world Freelance Producer Digital Communications & Membership Officer Development Director Other project costs Support costs Staff costs Website Office accommodation Office services Insurance Accountancy Bank charges Other costs Governance costs (Note 4) Total charitable expenditure 4 Governance costs Staff costs Independent examination 5 Net income for the year This is stated after charging: Independent examiner's fees	2022 £ 17,242 14,832 9,512 3,245 44,831 19,642 662 3,760 945 229 3,301 162 836 29,537 3,974 78,342 2022 £ 2,114 1,860 3,974 2022 £ 1,860	2021 £ 17,143 14,816 - 5,880
		37,839
		17,112 1,052 4,388 742 - 3,391 204 602
		27,491
		3,974
		69,304
		2021 £ 2,114 1,860
		3,974
		2021 £ 1,860

International Broadcasting Trust Notes to the Accounts For the year ended 31 December 2022

6 Staff costs and numbers Staff costs were as follows: Salary - Executive Director Salary - Digital Communications & Membership Officer Salary - Development Director Pension costs Shared employee under joint employment contract Digital Communications Officer Freelancers Management and editorial Total staff costs	2022 £ 18,836 14,580 9,296 5,269 47,981 - 17,242 65,223	2021 £ 18,024 10,848 - 4,985
		33,857
		3,968
		17,143
		54,968

The Charity considers its key management personnel to be the Trustee and the Executive Director. Total employee benefits to key management personnel during the year, including employer’s national insurance and pension contributions, amounted to £40,878 (2021: £39,968).

The charity operates defined contribution pension schemes for its employees and made contributions during the year of £5,269 (2021: £4,985).

The average weekly number of employees during the year, calculated on the basis of full time equivalents, was as follows:

Executive director Digital communications officer	2022 No. 1 1 2	2021 No. 1 1
		2

7 Transactions with related parties

None of the trustees received any remuneration or reimbursed expenses during the year (2021: £Nil).

8 Taxation

As a registered charity, International Broadcasting Trust is exempt from tax on income and gains falling within Part 11 of the Corporation Tax Act 2010 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

The charity is registered for Gift Aid with HM Revenue & Customs under reference number EW57252.

International Broadcasting Trust Notes to the Accounts For the year ended 31 December 2022

9 Debtors Accrued income Other debtors Prepayments 10 Creditors: amounts falling due within one year Accounts payable Social security and other taxation Accrued expenses 11 Analysis of net assets between funds Current assets Current liabilities Net assets 12 Movement in funds At 1 January Income £ £ Current year Unrestricted funds: General funds 153,270 86,862 Prior year Unrestricted funds: General funds 134,937 91,235	9 Debtors Accrued income Other debtors Prepayments 10 Creditors: amounts falling due within one year Accounts payable Social security and other taxation Accrued expenses 11 Analysis of net assets between funds Current assets Current liabilities Net assets 12 Movement in funds At 1 January Income £ £ Current year Unrestricted funds: General funds 153,270 86,862 Prior year Unrestricted funds: General funds 134,937 91,235	2022 £ 8,500 1,174 1,016 10,690 2022 £ 1,544 492 4,760 6,796 2022 Unrestricted £ 164,988 (6,796) 158,192 Expend- iture £ (81,940) (72,902)	2021 £ 2,500 998 731
			4,229
			2021 £ - 436 3,410
			3,846
			2021 Unrestricted £ 157,116 (3,846)
			153,270
			At 31 December £ 158,192
	134,937 91,235		153,270