R8gi5t8red d￿rfty numbèr 1150778 Regstered c(xnpany number 08275287 International Broadcasting Trust (A charitable company limited by guarantee) Trustees. Report and Financial Ststements for the year ended 31 December 2023 Inl•matlonal Broadcagtlng Trust Report and Flnanclal Statsm•nts Conl•nts 14 Legal and admlnlslrath* In1￿m8 Indepond8nt examlnefs rèFK ststem•nl tsffinana￿ thti8s Balance sheet &12 Intèrnatlonal Broadcastlng Trust Trustees, Report Ymr •ndod 31 D•c•mbgr 2023 The lyustees w8sent th•ir rewt •)d acr*Amts ftylhe 31 Oec4mber 2023. The finandal stat•m8nts have ￿epared in a(tcrfdm 7Aryth thg acc￿nting p)licies s81 out in Th)tg 110 tho acc￿nts and (*mpty vAth the Char61188 Ad 2011, the Companiès 2006, and A￿OUntIng and RèpNting by charit[￿.. Statament of Rec¢JftThndgd Pracléce ap￿ICab[e to charmies preparing ihelr accounts in a¢¢ordan¢a wilh th• FknancAal Roporury Standard 8pplt4ble In th8 UK and Repubhc of Ireland (FRS 102). Ltyal and adminlstrallve *rfornth os (yrt on 4 fomB part ofthis rfjF￿L ObJ•ctlvM and •ctlvltl•• Charltabl• obJ•GtIv Thè Inlornattonal Broadcasting an education81 charftywcKking to Pron￿te high qualty coveraga oftho wderworfd across all medla. We w)rk with the medla to ensure that audlences romain eNJapd with gkthl Issues. Wg provlde ow memtrws reg￿ar access to InftuenllalJwma￿5ts and èditors so tt￿1 they can maximiso Iheir Inwt n a rwdty changww mgdia knds(￿. For a ful report of actmlkn plèasg refw to tho Tftffjfs anwal re[￿ publshed separatety. IBT has SUCC￿$fUl￿ foowd on thm key areas of advity. Ca￿lty vthh our to help thwn to ath5gve weatar Inwact with th8lr m•dkq nwsaglng Publk b•n•fft The Tntstees ￿nfim7 that ttw have c(wnpllad with Ihg duty In Sectkin 4 ￿ the Charltles 2011 to have dug regard to the Charity Commisslon's g￿eral guldanco on public bgnefft and that the advltles carried ￿t by the Charlty durwy th8 year wwe all undertaken In ￿der to futhor the Charivs alms for th• b￿￿fit Of￿ Ch*ity's benelthrla8. In Par1￿lar, theTntsteos cor*ldef how pknngd athtt*s T￿11 c(xthiwtototh80im¥ and obSecllv6s they have sel. The belleve thor• is publr benafft in raising awareness amongstlhe UK publi¢ atwl the Ilves of pwl8 in develo￿rtg cl￿ntrIes. the issues wlith offect them and the ways in which all our Ilves are kntorcomecled. Wé have gattw&l evklence. lol)bled t*rAlrastors and published research to supp(Ki these goakn. Flnanclal v•vlv* Tho Charfty generatad IrKJ)Th for year rf £85J92 (2022". £86.8621 m•inty by way ol Thmbershlp subscr1p￿On3 of£83.(O) (2022: £86.IMI}. Expethlltura kn the ￿rWa5 £102.95312022: £81.940) *KI￿ling on thar*abb actfvitth of £97.8S2 (2022: £78,342). Intematlonal Broadcastlng Tnmt Trustees, Report Y•ar •nd•d 31 DKwnb•r 2023 Thls resulted tn a deficit for the yearof £17.56112022: surpk* of £4.922). redu* the 98n8ral lund to £140,831 {2022: £158,192). poll¢y Unrestrlclad reser48s." The Board ofTruste8s have ￿mIn8d th• requkemonls for IM*Jhg an 8Fywlate16vel rrf unrnstrtcted raserves In order lo safeguard the day to day rufinN￿ of the Charity and provkle urid8tylng flnanclal strt￿lIty to prot8Ct its brvj-temi wclects. It has b88n resolved that a roasonable 19vel of unrèstri¢tsd Yeserves for Ihls purpose equalos to tw6l¥e nwlh8 basK budggted running ￿ of th8 organlsatl (£100.0(M)). The ￿re$ll￿tOd reser¥8s at the ofthe yoar are £140.631 exce•ts Ihts level. A¥sot cov•r forfvnd• The a8sats of the trust are 8uffidort to meet th• Irusfs otAigalions on a fuThJ-Wnd basts. Futur• pl•ns We Shall con15nue lo f￿8 on our three winapal areas ofacb¥My, bul shall also reS￿d to changlThJ med18 landscy, p8rUwW lh8 grry*h)y Imwlm crfdigitsl medla. Inlematknnal Broadcasllng Trust (the 'ChariWI was In0)￿Orated in EngLarKI and Wales #s a pfvate )mpany limited by guarant08, &9 ty the Companrgs Ad 2￿6. on 31 October 2012. It was r*grstsred as a charity in England and Wales, aThJ the acbvitles ol the Charity began on 12 F8bruary 2013. The Charity is Co￿10￿8d by its Artklas of Asscthkn. The guarnnleo of èach m8mber Is limitod to£10. Organl8*llon Thg boar(l of Irustees. must comptse at least three twstees wilh no maxlmum, admlr*Lstsrs the Charity. The 8oard nwets four tKnes a year. Exoculfve Director appcAnled by the tru$tsgS to manage the daY.1￿8Y c4)eTatKffis of the Charfty. To facilllatg effecllve operatK)ns, Exacutrve Dkector has delegated aULh￿rty. withi) te￿% of deWtion approved by the tsustees for i)peratwal matters Inthdng flnance. emFAoym8nt and devdopmnt aLtvity. TM#t•• Inducllon and tralnlng T trustees undaryo an or￿tat￿)n day to b￿1 them on th•ir kn981 (￿g8kn¥ under charity and company18W. the (xjnlent of the Memorandum and Athlos of Assoclath)n arKI reviffw the budgets and recant financlgl slataments. Rlsk *t•t•m•nt The Board of Trustees have eyAmin8d the maNY rBks to vthlch thè Chwhy Is exposed, and systems avg bean established to mltsgate th￿ rlsks. sw3nifi￿nt extsmal r￿$ tolunding ha¥819d to a Strategy plan bas8d around key partnerships. fundets 8fKI stakeholdets. Internatlonal Broadeasllng Trust Trustees, Roport Y••r •nd•d 31 D•combor 2023 Law applkabl8 to Charlll88 In Englarnl and Wal•s requres the trustO05 to praparg aLYounts for the financlal yearwhich gb4e a trua atwj fak vlew of the State cl affaky of the Charlty as al the balance sh8el date and of rts in¢omlng resources and appka¢bn ol res(￿rces. indudhg irtom8 and eXp￿dItuTe. for the then ended. In r8latlon to thè IntematK)nal Broadcasting Tnjst lh8 Board crf Trustees aro responslblg for preparlng the aCc￿nI in ac¢aNdal￿ vAlh appllcable lthv the Uniled lfjryhyn Generauy Accountlng Practica and In so doing: select suitablg acc(MJntkng armfj tr￿n appty tr*m £¥>nsi5tenUy. observg Ihe melt*)ts and prfndples of the Ch8rlU8s SORP. moke Judgmants and e8tlm*s th81 are feasonable and prudent sublacl to any matarfal dopartures di5dos&l arnj explaln9d In the ￿￿unts. statè *thothfjr ap￿1(¥blo ac(xuntlng stsndar(Is and statem8nt of rec0mff￿dOd practic• have been followed suw to any matsriat dep*tura8 dlsdosed aThl explaN￿1 In the financial Statsments. prepare the accounts on a going cuThm basi5 unb￿8 tt Is hiww4)rfat8 k> assume that thè char￿ ￿11 (xjntinue In cwratw)n. The Intst•es are responslbkn for keeplng prDper books and records di5dose wth rèasonable a¢tyjra￿ al any tlmè the f￿a￿la1 posItK￿ ofthe Charrty and to enable them to ￿SUre thattho acc£¥Jnts coryly V•ilh the app&¢aNe law. They are also responsibfe for safeguarding the assets of the company and hence for takiry reasonable stgps fty thè prevention and dat8c￿n of fraud and other Irregulaiti8s. Thi¥ report has be8n propar&J In a¢axdanc• wlth In Part 15 ofthe Cwanies Acl 2Crt% Op￿[Cable lo companigs subject to tho sman reg*n8. Thls rBport was at4xov*l by tho bo8￿ of tr￿1885 ￿ 18 July 2024 and sNJngd on118 behaff. Ra￿ CaldT*•II Dlrector and Chatr of thè Tn*tees Intematlonal Broadeastlng Tnmt Logal and Admlnlstratlve Infomiallon R•f•r•nc• and *thilnlstratlv• Infornwllon Chaflty name: Int*nati￿￿ BroadG3stirvJ Trust Charfty r•glstratkn numbtr. 1150T18 Company reglstrthn number. 08275287 CanorA 7.14 Great Dovar Sirn•t SE14YR Rlchard Sumray Jonathan (Jack) Lund Rose cald￿ Hèlgn Palmer Allstslr Bumett Maryam Mohsin Melissa Ezechukwu (ap￿Inted 25 January %)24) Sarah Mlt¢hell (appolnt•l 25 January 2024) Traasurnr Ex•¢ukn Dlr•ctor (non•tru•t•• •ppolntsThint) Bankers CAF Bank Llmltéd 25 Klngs Hlll Avenue West MalllThJ ME19 4JQ Sollcltor• Bales. Wells & Br46th￿lIe 138 Ch8apsldo London EC2V 6BB Ind•p•nd•Tht EX￿h￿r Frank McDovM# FJM AC￿untancY Linli•d 23 Shad(laton Court 2 Maritlmg Quay London E143QF Independent examlnerfs report to the trustees of International Broadcastlng Trust charitable company (the Company) I report lo the ¢haity tnjstees on my examinat*Jn d the &￿Unts d the Company for the year ended 31 D￿mber 2023. R&sponsibilities and basis of report As the charrtys trustees of the Company {and also Is directors for the purposes of company law) you are ponsible for the preparatKsn of the accoLwts in accortlan￿ the requirements of the Compan￿$ Ad 2006 I'the 2006 Act). Having satisfied myself that the accounts crf the Company are not required to be audited under Part 16 of the 2006 Act and are eligib￿ for independent examin8tKJn. I rewrt in respecl of my examinatK)n of your charty's accounts as carried out under sectr'on 145 of the Charrtw Act 2011 {'the 2011 Ad'l. In carrying c￿t my examination I have followed the DIr￿t￿)n$ gNen by the Charty CommissK)n under section 14515) Ibl of the 2011 Act. Inde￿ndant examinorfs statem•nt I have completed my examinatK*n. I confirm that no matters have fJ)me to rny attention in connectM)n with the examinatK)n gThiing me eause to believe that in any Mat￿￿1 resp accounting records ￿re not kept in res* ofthe Ccffnpany a5 required by section 386 ofthe 2006 the accounts do nc* accord ￿ th￿ records; ( the accounts do n¢X eomply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts gNe a Ynje and fail view which is not a matter considered as part OF an Independent examination," or the accounts have not been prepared in xcordance wrth the methc#Js and principles of the Stslemenl of Recommended Practice for accounting and repth'ng by chanties appl￿ble to chaTibes preparing their ￿oUnt$ in acc￿lanCe wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no cther matters in connthn with the examination to wh￿h attention should ke drawn in this report in order to enable a prow uThJ¥standing of the accounts to be reached. Frank J McDowell FMAAT For and on behaw of FJM Acc(yJntarry Limited 23 Shacklalon Court 2 Maritime Quay London E14 3QF Dale.. Intsrnallonal Broadcasllng Trust statement of Flnancial Actlvnlos (Incorporallng Income and Expendlture A￿o￿nt} For the year ended 31 Decembor 2023 2023 Unr•strlctod 2022 Unrn8trfctsd Incom• Granls and donakns Choritoble actsvit Invoslm8nt ir￿e- bank knterest vecobrnbl Olher Income 344 86.000 439 83,000 2.035 Totsl Inc¢xn• 8S.392 86.862 Exp•ndllurn Costs of gonerotlng fvrds S.101 ExperKlltsJr8 on tharilaL48 97,852 78,342 Totsl r*sour￿l •xp•nd•d 102.953 81.940 N•t kKom• fvr lh• y•ar (17.561) Not mov•mont In fund• (17.561) 4,922 Fund ￿anCeS at 1 January 2￿￿3 158,192 1S3.270 Fund ￿laTh￿ •t 31 D•C•M￿ 2023 12 140.631 158,192 The statemont of financkgl acuvlllès hraNJgS 81 galr* or Icms for the yaw. Al and expèrKIi￿ro dert¥e from wnunulng activltles. Intsrnallonal Broad￿tIng Tn￿t Rogl$t•r8d Nurnbor." 08275287 8alanGe Sheet as at 31 Decomb•r 2023 2022 Debtors Cash at bank and li hand 9,123 136233 10. 154.298 145.356 164.988 Cr•dltor¥: amounts l*lllng du• whhln on• ￿lf 10 140.631 158.192 11 140,631 158.192 Funds 12 Unr•slrlct•d fund• General funds 140.631 158,192 Total fund# 140.631 158.192 The dlrectors are satisf￿￿ that the company is 0ntiW lo exemption from the requlremant to obtakn an aud under sectx)n 477 of thè Compan￿5 Act 2C#)6 arKI that thg momber ha8 rM)t rtyuirgd th8 company to obtaln an audit kn aceordanrn with seLXkx1476 dtho Ad. The dlrectors acknowledge they responsilylitw for compfying wilh thg rgqu*wnents of the Companle8 2fM16 ith respect to a¢￿Unting records and thè prepara11￿ of ao))unts. Th• a(xounts have be8n propar8d kn accordanc* *ilh tho In Part 1S ￿ the Compan188 A¢* 20( appllcabl& to wmpanlgs sutr48c*to thé small compan188 regkn8. Tho fin￿¢la1 stat8m8nts bythe truste05 ￿ 18 Juty 2024. Ro80 Caldw•ll Dlreclor and Ch8irof th8 Trustees Inl•matlonal Br￿￿CaStIng Tn￿t Notes to thè Ac¢ounts For th• year endod 31 Dae•nthr 2023 1 A¢￿untIng pollel•# The wlndpal 8co)untkYJ ￿ are wmmarwl belry*. The have be8n applw (wslslentty tIW￿￿OUt th• >wr. The accounts Illnancial statemgnts) have beon pryr*J urthr th8 historkal cost c(KNentknn with itoms rgcognkwy at cost or transacbon valu• unlw ollwwlse slatthj in the rel8vant Mtss to these aCt￿nts. The flnancial ststements have ljeen propargd In acoxdancé ￿4th thg Slatom￿t crf Rec4ynmend&J Practre.. knunting and Reporting by Charibes preparlng thék aw)unts In accordanco 7Afjth the Fknancial Reportir*J Standard app￿tAbl￿ kn the UnStsd Klngdom and Rgpubuc of Irelarvj {FRS 102). the Chartties Act 2011 arml tho Companios Arl 2006. Urhreslrfcted funds aro ay*lab￿ for use at the dlscrnlK)n ol lh8 trustees In furthwance pneral obledlves of the charty. In¢om• rocognltlon Al Income * Induded In the ¥tatsm*)t of firwKial athilles when thg charfty is anbllgd lo the inc8nCi￿ Actmlkn In tho ￿ in vthith they aro rBcelvablg. ThLs amount coNws dcffjallvts rec4r¥*d from th6 general publK. grants from mOm￿r organlsatxjns arKI simuar and annu￿ memtrAr8lNp faes from tho memtw organisatKTh. Inv88tsnont In(y)me Is ￿￿Vd#d recelvabl#. Exp•ndllure r•coqnlUon Exp8ndllure Is recognBed on an arxrual basis as a Ilabllty is Exp￿(￿1￿￿9 tr￿ude¥ VAT ￿ch camot ba recg)ver6d. and Is reported as part of the expendiknr8 to vthkh It rnlat8S. A of sF*dfied staff ts)¥ts are alkxated to th8 cx>sts of raL%u¥J funds. CharIta￿a expenditure comwisés those costs ty Iho clwlty in thg dellM* ol aTrJ 86rvkes for Its benaficiarfes. It irt*udg$ both costs that can be aloca￿l to S￿h **pAI￿8 arml tlh)se (a)sts of an kndlrect naturè necessary lo support them. Governan￿ costs widude tlw)se costs as$c￿*d wtth m￿￿n9 the constibjtkxwl and statrjtory r•quYomgnts of th8 arty and Indude the ￿del￿dent axamtrwtknn fee8 and costs Iwiked to tho strategk maMg8ment of th8 charlty. All g)sts ore allocated be￿n the eXp￿K11tUrfj cate￿￿￿$ of the ststenwnt ol finaniial acllvtiO85 a basis designed to reflect the use of the re$￿TC9. Costs relatw& to a wbcular *a albcalad diredty. others are apport￿ed on an approprlate b•sk8 0.g. staff tinè. Th• chaty operates 8 dofined contrlbutA)n pensKffi sd*mè. aro tharged to th& statemgnt of firwncl81 Intsrnatlonal Broadcasung Tru•t Note$ to Iho Accounts For tho yow •nded 31 DK•mbor 2023 2 Charftabl• ￿1¥10￿. m•mb•v•hlp M*¥¢Tlpdon• 2023 2022 Unr••trfctod Agg Intemalbnal AMREF Health Afrfca B and B Pathers Britlsh Red Cross Soclaty CAFOD Chrlslan Ad C￿e&M wOrl￿de UK DL%astets Emergow Comnthè Frggdom Fund Global Canopy Hope and Hom•s for Chltrjren Humanlty and Indu81on Ins16tuts of Development Studies Intemallonal InslitLrte fry En￿￿nment & Oe Intemalb)nal Rescue Committeg Islamic Relief UK Malaria ConsOrt￿M Malaria No More UK Medlcal Aid for PaknstK)la Medlclns Sans Front(ères Mlnes Adthy Group usllm Hands ONE Campa& Open So¢￿ty Foundalh)ns 500 5.000 3,500 5,OCrf) 2.500 1,000 500 1.000 3.000 1.000 1,000 3,000 3.￿0 1,￿0 3,OCW) 1.000 1.000 500 1.250 OXFAM Peace Dlrect Pkn Intemauonal Plan UK Pr¥lical Actk)n Re8Uess Development 5,OlY) 1.000 5,000 1.000 1.000 Savè the Chiklrgn Sightsavers Solar Atd Tearfund The Donkey Sancluary Tho Eldws Trge Akj UNHCR UNICEF Water Akl Weber Shan(fr*id( Women for Woman Intematlon Wortd Fixxl Programme WWF 5,000 5,(M)O 1,000 2,750 2,500 s.1￿0 1.000 1.000 1.000 5.000 86,WO Intsmatlonal Broadcastlng Trust Not•s to the kcounts For tho yoar Ond￿ 31 Dec•mbgr 2023 3 Ch•rll•bl• •xp•ndllur•.' kner•a¥lng awar•ness of the d•v•loplng worfd 2023 2022 Froelance Prr•Jucer Digital Comrnunlcauo￿ & Membw8htp Olftc Develotmnent Dlrsctr Other pro￿( costs 18.073 16.761 23,801 4.675 17,242 14.832 9,512 3.245 63.310 44.831 Support costs Staff costs Website Office accomm(NJalion Offlco s91￿CeS Insurance Accountsncy 8#nk tharyes Other costs 21.939 19,642 662 3,760 945 4.818 1.246 118 2￿ 128 13 3,301 162 29.537 Gov•rn•nco ¢OSt81Not• 4) 3.974 Totsl charItal￿O •Xp•nd1￿r• 97.852 78.342 2022 Staff c0818 Independent examknal 2.456 2,114 1.860 3,656 3,974 S N•t Inwn• for th• 2023 Th18 Is slated after charglng: Indap&yJent examknefs fees 10 Intematlonal Broadcasljng Trust Notes to the Accounts For tho year ondod 31 D•eombw 2023 8 staff Coth and nthnb•rn 2023 2022 Salary. Executfve Dlreclor SaLqry. D*Jltal C¢)mmunlcallons & M&nbef5hlp oifK S#lary- Deveknpment Dlrector Pension costs 19.7tr2 16.228 25.857 18,836 14,580 9.296 5.269 67.769 47.981 Fr••lanc•rn Managoment and edllorfal 18.073 Total ¥taff cogt• 85,842 65223 Thg Charfty con81d8rs its koy management p8rnonnel b bg the Tnkn and thè Exoathe Dlretxor. Totsl empb￿e benallts to key management peTsonn81 dLthng the ￿r. empbyerfs natK￿al iisurance and pension contdbuiions. #rnounled to £42,635 (2022: £40.878). The charfty operate8 derN￿j ￿trI)u￿ pensk)n scawnes fty Its and made contrltmrtknns during the >par of£S,921 (2022: £52891. Tha av6rng• number of d￿￿￿ ts Jw. cthilatad on th8 bas18 of ful timg equh*lents, wa8 a$ folows: 2022 No. Digital cornmunkalk￿ officar Nom of the trustees recelved any rsfflun9rau￿ or rnin1￿r3fjd oxperws Iha y8ar (2022: £NII). Tax•lloTh As o rgglstered charfty. Intematlonal Bro8(kasting Trust is exempt frcth tsx <>n income and gah)s falling wllhin Part 11 ol the COrP)ratk￿ Tax Act 2010 ta the 8Xtent that these aro wL*d to Its Ch￿Stable Ob￿￿. No tax charges have arfsen In lh8 char#y. rho charfty Is r*t8r•d fDr Gift Akl V•lth HM Re%￿yO & C￿st¢V￿ urth rdarenco rwmbor EW57252. Internatlonal Broadcasllng TnMt Nots8 to tha Accounts For the year ondod 31 Doc•mber 2023 9 0•btor• 2023 Ac￿ld InGomg Other debto PropayTnents 8.500 1,174 1,016 1.327 9.123 10,690 10 Crndltars: •mount• falllng du• wlthln one y•*r Accounts payabl8 Soclal security and othgr taxa Accrued exp8nses (Xh•r CTod*or5 1.624 624 1,800 677 492 4.760 4.725 6.796 11 Analy818 of n•t *M•ts b•iw••n (￿dI 2023 2022 Unrn8lrlct•d Current assets Current liabilitigs 145,356 (4.725} 164.988 (6.796) N81 assets 140,631 158,192 11 Mov•m•nt In fund* At31 D•c•mb•r J￿￿ary Itur• Curr•nt y•ar UNo•trlctod fvnd•: Genaral lunds 158.1Y2 85,392 (102.gS3) 140.631 Prlor ￿•r Unr•strlclod lund•: General funds 153270 (81,940) 158.192 12