The Guardian Foundation ICon7pany regt#rétkin no. l)8437335 Charity Stration no. 11538651 REPQRT ANO FINANQAL STATEfvAES YEAR ENDED 31 MARCH 2023 The Guardian I,'oundation
The I,'ouiidation (Company Registratlon no. 08437335, Charfty reglstration no. 11538651 A£PORT AND FINANICAL STATEMENTS For the vear nded 31 March 2023 CONTENTS Page Reference and admlnlstrathe Inlormailon Board of Truxees, report (litorfs rewt 13 5t•trrnent of financial athrytie5 17 Baance She 18 Cash flow statement 19 Notes to the financlal Maiennis 20
I,'oundalion (Company Reg4$1ration no. 08437335) R£FEREfrKE AND AOMINISTKATIVE DETAILS OF THE CHARI For the ypa. wded 31 Marth 2023 Board ¢f Tnisieos Nina Blatwell eilh Magee Ichairl Mélody Patry Randeep Rdme5h Ru53ell Scott (appointed 19 Jufy 20231 Jthan Scott Ire5i8ned 26 April 1023 Garyyouwe Senlor %fjanapnqnl T•affl KellyWa1 EKecuir Difecli Prfrtlpal Olllce PO Box 68164 KinE5 Pkie SYJ York Wav Lon¢knn NIP2AP Cornp•ny ie4. 00. 08¢3733S Charity re8. no. 1153865 S0Ndt$ Bates Weirs & 8rdithwaite lorlon LIP IQ Queen street Place London EC4R ieE The Royal Bank of Scollartd pk 280 B15p5Sate London EC2M 4RB Ind•p•nd411t Audltor Krox Croppèr LiP 6S Le•Jenhall Street London EC3A 2AD
rouiidation l(ompany Registration T. 084373351 TRLJSTEES. REpoRr For ihe yeaf ended 31 Marth 2023 The tru5teM. who ère director5 for the wrposes of tompany law. pent the annuBI report together with the audited flnancial statements and audttor5 fppDrt o., the tharitablE £ownpany for the year eidEd 31 FAarch 2023. Thls has been pared In accordance with comF4iance with the (harities Act 2011 and Is a Directorfs Rerta$ rewId by Sec1ft 415 of tho CompaniesArt 26. The Guardian FOundatn Is re(1stere¢J In EnRland and Wales th the Charfy Commission under the charity number 1153865 and with COleS House under the c(Knpany wmber 08437335. The princlpa office L4 PO Box 68164. Plxe. 90 York Way. Lon&Jn Nl 2AP. Nina 81ackwe Keiih Magee (Chairl mé.ody Patry R2ndeep Namesh Ru55ell Scott lapwinted 19 Juty 20231 Jonathan Scott Iresi8ned 26 April 20231 Gary Youn8e Obi•rtrvs. slrat•81•s and arti¥il The obletts of the tharfry, as set Iwi In its artlcles of assoclaiK>n. are for pubfbc benefit and the advanrneDt ofcharitat4e In (ordanCe ¥Jith the laws of England wa$. CIArrenily. Ihe charity caiiies OLrt the fo11owir acb¥itiÈs in wrsuit of its charitable objects. focusing on the chariiable adwdncemeni of educati¢n. human rights and the riBht to information. attfvlltles of the tharity drE in fuithwanie ol il5 djjects and carld oui public benefit. ObiertiVf5. slrntW5 The charity works dlfKtty with lournalists, new5 or8owHsation5. audience5 and eijutators. in 5thools and across commUnles. 20W23 rewesented year one of a fve-yeai str3tEgy, outlining ts purpose, and ioals. Purpose.. to promote global wessfreediwn ar ac£es5 to Ilberal loumèlsm. Vision.. è world where pewe haTr** ac¢ess io reliable intormatM>n. from a dwerse r4n8e of sources. SIhen1r8 their ab'lity to hdd )Wer to a(count.
r()undatiun
IComp3ny ReRistration no, 084313351
TRUSTEES, REPORT
For the year ende<l 31 Mafch 2023
Goal5'.
l. News & med LitenKy
8y eagInE with ade$ and educators. in 5th0015 and communities. ourm¢di4 Itteracy work
txklEs disillfLYmation by enhan£ine people'5 ability to critically aLlIle 5.
2. Volce & Agency
Through trainir& mentorship, bursaries and career iuidance. we faolitste opportunities fof
people from undeffewesented baCArodS to use theSr ¥oe and agency. Increasiry Inclusion
in the media.
3. Mtdin wl111V
By collaboraiing whth fellow Tr?umalLSts and news orgarisations on areas that challÈnBè thelr
¥iability. we foster Iheir capacity ol liberal rrdia io engdge people with facikned journalism.
Each one of ihe ch¥it¢s w)BramS arKI projects Ctriblrte tryrdS or more of these strategic
goals. The artNities create impact and enable charbge, in pUr5t of a ¢emocrotK 59ciety where people
n participate, influence acl.
Pmqrnmme5
The Guardlan Foundation publlshes an annual impart report as well a5 specifK, in4lepth. tailored
Lvaluatn$ forvxious programmes. Bel(A¥ are brief highlights from the peNod Apr 2022 . Mar 2023
Nfwsviise
Newswise is a free. cr
GU{dian li()undaliun (Company Registration no. 084373351 TRUSTEEY REPOAT Foi ihe yeai eIed 31 Marth 2013 BehIrthe Hvodlines 8ehind the Headllnes empowers peopk to understand. critkalty anatse, engage wbth and participaie in the medla. it focuseson rhildren a8ed 12+. as well aSyOUNd adults from underrepresented backgrounds Intereed In medla career5 and ieachers contlnulng profesOn development. Presented as a carefultytailored sèt of Innovatt and aUtntiC t¥perietKes. rootsd In journalism and educati<)nal best praaice. there art a range of l¥l"e5. work$tp$ anLI careers inatri sessions which are delNered In a hybrid model, Ih ¥i¥lual and In-pW5 ai ihe EducatK•n ceLfe. 10tr4ted in the Guardian's head office. This Year, workshop topics and witent re relrestr+ed and expanded and • new Metho litero¢y Ambcssador yoject was launched. iotake the exbsiing in-IKJUSe eyperience to Sourh and Westyorkshir the Midlands and GreatÈr Manthesttr. trairnini young people in years 9-13 10 8¢h their peers about mls and dksthformation. enhanclnK thelr mÈd13 literacy sklll> 2,139 young people from 66 sthools 3nd colleges have panicipated ihis year. and 449 educatDrs and Ibrar",ans have experienced èn en¢atin£ ranee of CPD. yJmtsrtinE them in developin8 siudents, crkic Iera¢y. Over Th of paapartts report that they have developed researth, tollabDratlon and questionin8 skills. as well as COIthden in edikn8 and prod1 new5 Storie5. GNMArchtve The archive 5UPPOrts media literacy ty collettin& olaloguing and making acCebIe to the public material th3t provide5 3 better under5tarKling vf the historical LDnlext5 Qf the Guardian and ObsEf¥Er nd the role of Journalism in society. The •r¢hro is a valuable resource for researchers and is open free to the publt by appolntrnent. This year aknost 4 enoulrfes were suwrted, coverln£ everythlnÉ from Éendef In ihe medla to the Al6r an war of ITh1epennCÉ the rtse of women's football. The team aJSO SUPPOrted the GLsardian'5 Cottgn Copitol projcci. which expbrc5 the Guardian's historical finks to transatlantic slavcry. The conientsof the afchNe have growrt th15 year, thrwgh a¢Quis"On5 and special proiecis coverin8 Black hi5tuiy and ihe Dlsocidl meditl. dswell ds dia hi51ory in 19f(153WKI folluw4in8 decades, espe<ially as rt rela5 to Afn'can decotronisabcn. Tth (ollertM ha¥e also been shared with a wder audiett by ontinuin8:o contribute to public-facing exhibitions 5uth as the National Science and Media Mu5eurn In Bradford and the British Library in London. with the latter appealin6 to an intemational audiencc and reichln8 12.C4)O peoF4e. Hugo YothyAwonl Thi5 annual competitM)n. charnph7ning the best politi£al opirrion 4¥Yiting students and young people across the UK Irom stat+lunded sclwls. is in rtS Yxth year. Emrants In two age c31egorie5, 16.18 and 19.25. ar• 1 th ChaIne? Irj wrile on a t¢)PSCthey f1 18 rt r¢eiwing nough attention. using new idea5, subje¢tsand perspertP4es using theirown voice. The ccmpetits.on acts as 3 springboard forkvinners and runners up into Further wri-.ing opwrtunities and the de¥elotffient ol this type of talent pipeline is esscntkil to the future of qualty. independcnt political journalism. This yearfs winners ¥note about the stsle of end.of.fffe care in VK hornes and housing in knath Lor.don. Both wtnl on lo wiile fvriher pieces for ihe Guardia
Uydtsn I,'oundati()n Icompany Rekistratn no. 084313351 TRUSTEES, REPOAT For the yeaf ended 31 March 2023 Scott frust Bursory Th¢ prwrary aim of kott Trust ir$ary is to a55iSt 5tuderrts WI fate finandal difficulty In attaiDin8 g¥alSficalions needed to wrsue a caieer in pumlism. and who Came from ba£k8rounds that are underfepresented in media. The charbty currently offers three bursarie5 each year to 05515t aspirinE jDurrali5ts 10 Study for a postgFaduate qualifiialTrun èt eithEr C¥ty Uni¥ersily. Lonth)n. Goldsmlths C¢lleÉe. Unv4er5rty of LoTKlon and Unwgty ¢f 5heffield. The benelits ol the b4Ksary prografflme Include a livi allowance, nntOring xhemt. workshops and work placemenis at GuardLin News & Medla durlng thelr studles. Post-tompletk)n of thelr MAS. bursary alumni he thp opp¢)rtunityto cantinue on to a staff contract wsth the Guardian. something all three of this yearfs recipients have done. buildi up an extens¢¥ portfol of lylines, Cover1 toplts that may have published otherwise, setting them up for often briNiAnt careers_ Ahhough this Èlement outside o,. the remrt of the ¢h3nty. rt ts a testameni to the talented in¢NKluals and the structure ot the stheme which, wb.en combined irKluslry supp)rt. has a dear positr4e irnpart (7n diversliy in Medio Mokels Medid Maker5 15 a new. colldbDralive pro8rarnrne whith ollers &month platements with Cale)m •dIwl subscriplion app whith pro%rydes acces5 ta rnore than 2,Sthl newspaper arxl maga2ine iitles. Th• 5cherne aims tn rKrtr¥ide indldJ15 wf(h the trainini expe-. Ipnce required to brpak irbto lournallsm, fu$Trg partlcularty on productbon, IrKlUdI seItIng. di8lial CLratlon, monet15atton of contentand writiNx headlines. Three interns have completed theirplacements to date and have reported an Sncrease in skllSs. confidence, kn(Thede and experlence. as as buildirtsx up a Thetwo for lurther IvantÉmeF)t in the indLTrStry. Indvpendenl Meditj fvTkry In partnership wrth DrtaI Medrd Research Assou"ats"on IDMRAI. èlyi known as NewsLab Turkey. this programffte is deslgned to support high qualfty iTrJependent Turkish journaltyn ènd the nvrturing of this space to contribute to an enablin8 erhvironment for freedom of txpre55ion and equality. The objective is to equip partner orgarisatsons a¢MI progr3mme partIcip3n vhth the skil'.$ and rewurce5 to PfodLKe SilS¥ainalle. elhical, profesyofial and Oiyerse public-interest journaliyn lor multimedia platlomis. A lunCOnIng Independènt media lat)d%cape ¢ontrUtes ro better Informed c¢11zer who are able to participate me3nin¥Fully in dÈmDtratit prtscessoL This year, 49 people fiom 19 d".fferent 0"9. representineeach tsf the 7 regions ofTurkey have taken part in ihe progr3mme. with a specific focus on the Black Sea region. Bm8ir¢ thern iogether created oppcrtunit5 for networking rnuiual supprt a5 well as mentorir% and financial wpport for jou-, nalist projetts serNln%their bcal communitlC5With multimedla news ènd reportln&co¥erI a var of UFMJerrEPOrted tOPlC5 SLKh as disability. clirnate. wornen arKI the LG8T+ comwunity. Tiainlry ol trainers 55 a keycomponent oFthis vffjrk. ensurln8 knled8e is embeddèd withln Turkey and on average, tralners who have recefved training from this proiert gone ort to traln a further 33 peorAe each.
roundation (Company ReRistration no. 084313351 TRUSTEES, REPORT Foi the ¥r ended 31 March 2023 Public bentfit The aciiv ties of Gu4rdian Foundation focus on rhe ob,.ect of advancing Education, the riEht to Inlormation and human rights. The wrwse of the charity 15 tu prornotE global prc5$1rc¢dom and access to l.beral journali5rn. All èctivities ol the Chariiv in fvrlheiarKe ol thi5 rpi4ect will be carripd out f(K ihe pufjlic Ixnefit. In partkular. . The news Ilterary prokcts wowde ethcational services to a wide variety of khool thlldren, teè¢hefS and educational professionals kn order io support education In trftkal Iltefè¢V. rnalIsM and teachlng practices. . The arthiye program preser¥e5 iecoFds for sKJtyir and makes accessible to the public material of historic. artistic LWaOal value. Bursaries lor poswaduate qithlilicotions in journalism and other opwjrtunitics wrthin the media industry are prowded io ihe applicants who besi sOtÉs(y the eS[abS1}ed criteria, taki account of the desire to encour38e 8raduate5 from a dr¥erse range of backgrounds. Th? media ¥iability programmtrs offer trainin& rnentoring and capacity development to er5e85 journal1s aryd provlde edutIonal support to applKants and organt5atiovs who bEst 5ati5fy the established criteria. ThLb trustees confirm that they have ctynplied ryth the rewwements of sethon 17 of the crItIeS Act 201110 have regard to the PLOli¢ benefit guldarKC the Charlty CorNnlsslDn for England and Walt Fundl The furwJraisln8 actfvltlÉq ofThè Guardlan Foundatlon are c3rried out onty by The Guardian Foundation stam or carefulty sdected contractors. and are focused on seekiW funds from Corporations, 80vernmental b¢xlies and or8ani5aiion& The tharity ¢Jes recei a small number of donatlons from the 8eneral public who with to suppon the Work and ihiq is done via the ChariliEs Aid Foundation website. empktyee payrdl gsving Of occauonally via cheques re(Ved dirertty. In order ta secure funés. The Guardian Foundat)n wlll approach organisations di•edly when rhey belleve there Isall6nryntof r.rate8icaiwn5. TheGuar(lian Fouration can also be approxhed dirprtly byfvnd•.rs seeking to make gTants for purk*se5 Within the than5 •rea ofewtise. The Guardian Foundation ha5 recehEd no complalnts regarding rts fvndroisg artwrtics. GTr4en that direttly apwDathin8 indivvjuab and MEmr5 of the pJbtic doe5 ¢urrenUy form part of the charity's fvndraising operations. there istleemed lo be a very low risk tc any vulnerable persorts.
The roundation Icornpany R2Ristiation no. 08437335) TRUSTEES, REPORT For the ended 31 Marth 2023 In 2022123 the chariV5 fvndrai5ini aims were achieved, 5eEurinE Several new restricted Erants stsme exterdinR bcyopKI one Year. alorwlde Increased un$[fiCt¢d donations from orRan15atians and i11VIdual5 as wll as kott Trust. The ch¥ity Cornpl5 wilh the lawg regulat1$ and sta)dards ol Code of Fundrain& Practi. The Pflnclpal source of unrestrtcted fvnd ng Is a donatlon Irom The Scott Trust Limlted. The Scott Trust Limited has undertaken to &)nate sufficient monies duringthe 202212023 financial year in order to fund, In part, the objectives and 3CtiVltles of the chanty for 202212023. The Scott Tr1,$ Intentlon, subject to the annual budgdin8 process. is to continue to fund the Guardian Foundat#)n at least over the five ar period ¢otrmenun&."n rmancl year 2022123. through to 2026127. refiecting the iimeline of the awrent 51rdte&': rlan A8ift in kind is reciTrtd fvom GNM. representin8 central ser¥Kes made available to the charity. In addition, there are muliiple Sources of Fe5tricied fundin8 fTOm trusts. lou[atIonS, stalulory b(leS and ind.,viduals, whh are prinup31 to the pro8rammes and projetts far whith they are intended. Trse Jre detaikd in Note 13. Grnnt-mvklnq Although the charltrfs $ple actriity Is not as a yant-maker. li often works Ath oiher organlsatlons partnerships collaborations which may include sub.8fantin8 a8reunents. always and only in ad¥ancem¢nt of its charirable ¢bjerts. FIncial mrfew ènd re5eThes The reseNe5 of the Charity ¢onstilute P)zh unrestricted Jnd restrKted fLmds. Unie5tricted reserves ère mainrained ai a Ie4 sufricient to enwre financial siabiliry, tskin8 account of the support cornmitled by Scott Twst Limited. At 31 March 2023. Ihe level of unStrICted serveS was £216.986 12022.. £134,892). Rwtrirted lunds rde toamounts receNed from third parties ft>r5pecified purpose& as dÈtallÈd In note 13. The level of restrKted reger4tes at 31 March 2023 was £233,90712022: É21YI?141. Po£y on resems The oytimal amcwnt that the charity lo maintain in its unrestricted reser%s. Is sufficient to allow dclivory of its core acrivity for ? minimum 3 month5. This allows for an YxpeCted drop in income. unforeseen 8nd essen&Oal all cover. or wexpecled cbsure. supwrted by the pYiyKtpal funding rece*4ed from The Scott Trust "Mte¢.
I,'oundalion (Company Rcgistration no. 084373351 TrUSTEES' REPOIIT Fof the year ended 31 March 2023 Levels ol unrestricted reser¥e5 ère monitored thrh the process: A reseryes tar8et is tNdBeted at ihe beginning of each finarKial year, then forecast every quarter throughout the year and assessed at thE Enrl of yEar. Anythin8 hew in exrE55gf thetsrBet figure may beutili5Ed forre-in¥e5rmentintothe 5tr3te8icoratiQn5 of the charity in line with its mission. The reserye5 can be released arTd for the stated behTh. arxl any Spe[ must be official slgned off try the board oftrustees. Unforeseen emer8ency Of Qther unexpected and Ww401dae need for fun e.g. essential legal cosis Incurred bul mt fOren. B. Unforeseen day.to.day 0ratIOnal ¢osts. e.g. emplov1 temporary stsff to ctr¥er a lon8.temi ck absence or paiemity leave. C A source of income. e4. a #ranL noi beinR renewed or dramatically rtdu¢ir4 in Yalue. FUNIS mh1 be netded tv 8lVt the iru5tees time lo t•ke If income f¥115 belvw ¥xppctation5. D. The need to fund short-term dethots in a cash dEet. e.¢ monEy neÈd to be spent before a fvndin8 gTrnt 15 receid. Reserves related to rewkrod kndsare ordy used for thelr speclhed puxpose and man74eé to ensure the timdy delr#viof t a$¢11ed projett. The reserves pdicy will be reed armually by the 8oard ol Trustees and adjusted if ner25sary. Rlsks A thorough principal risk rE¥ir.er 15 maintained the Iharity and rEviewd by TIu5tees. induding c¢)ntrots and further to rnrtigate. Th15 year the maln risk that resulte(i in an issue this year wa5 follov¥inz a cyber-attadl on the Guardian IT sysiems. wh6th The Guardlan Feundlffi also utlllses In Its operatlons. Th15 res(dted In a temporary10s5 of acce$3 to some (hxumwts sytt) ems. and several week5 witlut acce55 to the office. The Impatt of this was: • a paktse on acti¥ities d1 to In-perscffi in ihe Id1 reduc1 our overall reath of beneficiaries for the year mulvlp'e workarouThls for staff. creating inefficiencies in Operatn$ and hamperln8 wodueilvity increased costs for extemal printyn8 and wo.k5pace when fequired A.'thouRh srtuats'on has in most part been resofved. our Archivc and Bchind thc Hcadli5 teams onttoue ta be affecled by residual IT systems1055 and await a return to full capacity, eNperted in September 2023.
li()uiid<i()n Icompany Flegi5tration . 084373351 TRUSTEES. REPORT For the year ended 31 Marth 2023 The rr&ain organt5ational rkS 8cHn8forwafd are arnund the CUFreni economic chmale. wtth risin8 inflatil)n re5uIb. in increasiw costs lor the organat1. and fundirq vtslaiility wilh many funders opting foi smaller. shortef or single-projert base¢ Van mikin8 commitment to IDn8er lerm aim5 and iTr.Pdd mtsre thallèno'nt. Thts is beini caref monitored and mana8ed. th senior leadership nK¥nthly and trustees quartertv. Plans forfvwro periods Alms ondkey o¥e¢tl&esfvrlulePeId In fvthrance of rts chaTitable obJerts. the chanty will continue to fu& on the charitable advancement of educatlon. human rlghis and the to irfLYmatk)n. The chity will f¢sed on gftring Impact In line with year two of its fi¥e-ye£r strateyi. The tharity also Conte$ to strengthen Its core capaoty and Kovern(e io ensts Sts lo terni compiiaw, resillence and sustaina"]1. Artlvltlesplvnfvedto rfhle4 Olms The ¢hariryill continue to pursue the programme5 ond ortiviilES that dre forward thè Arategic Boa Greater impact will be achieved by iTrcreasing both scate and depth of those actMtitr5. 1rtludl. A(klre5sing new5 and media liiÈfxy 8aps e widely across Eufq)e. a5 well as the continuation and expansion of the UK comrNnity focus. indud1 n0n-sCPM> spaces. peer learnin8 and exF4orin8 links to CMC eaernent. Increasini the number of mean61 and tsr8eted OWtuneS In medLq for indNlduals from uTreerrepse.te& 0uP$ who ¢rKe financial barr>er5. includin8 three additional aleS at unibEr5ittes outside of specifically for èspiriniiournalists from African andlor Caribbean dwent. • EX118 our pnga8emnt with indepeodent wnedia outsmle ofthe UK. co-deNEbplng knitiatives to addr Specific needs in increasingly ¢haUenged enrOnrnents and dÈmocra¢leg. The charity will seek further funding from phi1anihrow-¢ organi5ations to suPrt bts proposed actlv5tiek V'heTe lunding is subjeci to restrKtions. it will OAY be accepted orKe all conslderations havè. bepn r¢w¢wed and agroe¢J. sinK #ernanCe and manazelnent Nuturt oAqo¥ernlnq document The Guardian Founda:ion is a company limited luarantee and its sobe member Is The scott Trust Llmlted ISTL}. STL Is the uklmate owrler of Guardian Medio ¢knup IGMGI.
roundation (Company ReRistsatn no. 084373351 TRUSTEES, REPORT FDI the VEai ended 31 March 2023 Recru•tmtnt undcppdntmentof truthes Dirertors of the tharity (Trustees) may be appointed rerno¥rd by the Member artiTr6 throueh an •Ahorised rePrn13te. u5ualty thc othcr Serving Truttcc5 an¢ Chair. on apwintment to the charity, Trusiees receive appropriaie b¥Elin8s the chariry, its finan5. tranCe apd activities. The Membermay app)Int one of the Trnstee5 to be Chair of the TfUStee5 foi such term of office ès It may determine and may ai any time remove him or her from that office. whether or not also rernowng m or her as a Trustee. The irusiees recwved no remuneration for their 5er¥Kes duri the VÈ¥ and wère not rÈlmbursed lor any penSeS IrUrred Remuner•tion lor keymanagementcan be four¥1 in note9 staff nwnbprs and costs. Remuneration oftht Executr4e 'TectOr otthe charity is deaikd by the eoard ofTrustCC5, following benthmarkirt¥ and revlew ol perfurmance. Remuntraiion lor al otr siaff is determined by the tharivs appropriate manateff,enL Saft9uvrdwng The Guarithan Foundation belith*s that saIuardIng is everyon¥$ respwsibility. and thal the safety and welfare ofthose wlitr, whom we work paramount In all clrcvmstances. Our SafeguardSng policy sets out The Guardian Foundalion'5 pr(tsleS and £cYnmrtments to 5afe6uardinK children, adult5 at rtsk and cvcryone woth wknom wc comc 1nto corrtact ihrough our work Our safard1 PolSe¢ Can be found here-. hItP5'.Ilthe8vardnfOndatn.oTJaSsetSlf11e$lpolic1e5•prede&UardiaD.frlDdatIOn safeguardin8-policy.pdf Relalionthip5 with related parti ", Lis thesole member of rhe charit¥ and ts a150 the timate holdin8 compary pf GMG andthus Guardi3n News & Media timitec IGNKII. GMG GVG is thp parEnt company ol Guardian Nev & Metha Lmtw IGNMI. publisher of theguardlan.com, one of the world's leadin8 news websites, the fAJ•rdian and OtJseThér newspaptrs. GNM GNM 15 the publisher of theguardian.¢om, one ol the world's leadlnR news webs6tes, and the Guarlban and ObsThr newspapers. io
The I,'uuiid£ltion Icompany Registration no. 08437335) TRUSTEES. fiEPORT For the Vtar ended 31 Marth 2023 Going ¢onc•rn These finarKial 5&atement5 are wepaied on ihe g[ncer basis. under hIStl¢al cosl convention. ane In accordance w.th •pplKable x¢ourrting st)ndards in the Urmted Kingdom, lfi additson Ihe financial 5tatement5 have beei prepared in accordance with the Statement of AetomrnerKIEd Pratiice on Accounting and Reporting ty Charities SCMIP {FR51021 and complywrththe Comp3nie5 Act 2CQ6 and the Charltles aci 2011. Disclosure of infornbalioTr to altOr EB(JTr iTu5fee has laken SIe that ihey ou8ht lo haw as a trustee in crfder to make themsefves awafe of any relevant audit informatior and to esiablssh ih the Charity's ditOr is aware of ihat Information. The trust$ rIMI th tle15 rn ielelant 5nform8iion that they know of and of which they kn the audilor is un¥ar¢ Trustee's llabl1¢S As permf(ted by the ArrIC of the trustee5 have the benefrt ol an irrflemnity which is qualifying third pa indemniry pro¥rysK)n as defined by Sertion 234 01 thE Companies Acl 20. The indemnity wa in force throk)ut the last finantial al and is currtndy in force. Tr Charity also purchased maIntain throOut the financial year directors. ard officer5. liability insurance in respect of itseff and rts trUt$. STATEMENf OF TRUSTEES. RESPONSIBiunES The Buard of TnJstees Is for preparir¢ the Annual Rewrt and the r..nJnci41 slalenRnts In accordance wlth applicable taw and Uniied KlnRdom Generally Accepted Accounting Prdctice. Company law ruireS ihe Trustees lo prepare financial slatpmt)nt4 for É¥ach financial year which gi¥e a true and fair view of the state of aff3irs of the thafitable compiny and ol the incominE re50urce5 and application of re50urce5, indwJinB the wlcome and expttydilure. of the charitable company for that pwlod. In preparing these fSnarKlal atementS, theTrusrees are required to.. select 51Jltable accounlirE 1CleS ind then them consisten1- observe thp rngthod5 and prinoples in the Chafities SORP. make iudgrTnts and estirnaies that are reasonable and pru(lent' stste whether applicable UK aL£ounti standards have been followed, subiert to any material dèpartw•s disclowd and pxplaIn in th• financial staternents. and prepaie ihe financi4 51atemerrts Lsn c(xKÈrn basis thless il is inappropriate to presun thatthe tharitable rompary will continue in bu51rS
The llvdknn I,'ouiidati()n Icornpary Registration no. 084373351 TRUSTEES, REPORT For ihe year ended 31 March 2023 The 8oaTd ol Trustees has cwerall iesponsibtlity for ersurin8 that the Charity has an appropriate system ul iorbtro15, financial and 01¥15e The Tru5tee5 are a150 re5punsible f keepln8 adequate accounlln8 records whlch dlsclose woth reasotutle accuracy at any time financial p0SOn of the Charty and pnable them to ensure that the finafKial statements compty with the Companie5 Act 2006 and Lhe prO$10ft£ of the 0rnIn document. are also respOnsie for 5afe8uardfjng the 355ets of the Charity and hence lor takinR reasonabte steps for ihe delecin and kyevention of Iraud and other irregulafltiek The Board of TTUStees is resp5e for the maintnaM iniE8rity vf the corporaie and financSal Informatlon Included on the Comparftts webslte. Leglslation In ihe United Kin8d(xn 8ovefninB the preparation and dissemination of fiDarKial statements may thfferfrom legislatlon In other lurlsdlctlons. In so far as the Trustees are aware.. there is no relevanr3lt WNm•tlonof which the charitabl? companls alitOri5 unaware: ond theTrvstees ha¥e taken am 5tep5th they ou¥ht to he laken to make Ihem5el¥es aware ol any relevant audlt Infomiatlon and io esiatyllsh that the atKlitOf 15 aware of that inforrnati SM1 MpanIeS pro¥lslon statement Thi5 report ha5 been preparEd in ac£ordaMe with ihe small ubmpanies re8i¢w underthe CompaniesAtt IIJO6. The Staiement of Trustees, ResponSitstSes is CO1red part of ths Trustees, lleport. The annual report wasapproved bythe trnStee5 of the Charity on 19th july 2023 arrfl sned on its behall b¥: Keil Ma8ee Chalr
(Cornpany Registration no. 084373351 IN()EPENDENI AUDITOR'S REPOR TTO TTriÉ MEMBERS OF THE GUARDLAN FOUNDATION FOR THE YEAR EN0£O 31 MARCH2023 Oplnlon We haveaLKlited the ffinaTKial statementsofThe Guardian Foundat lthe'charitèblè companll far the ygar erKled 31 Marih 2023 which comprise statÈment of financial attpities, the balance 5hÈèL cash tbw and )reS to the financial staternents. incI1n£ a 5urnmary of sl8nilKant accounting polif ies. The rinaniial reporun8 framevrk that ha5 been applied in their preparation 15 applkable law and Llnited Klnidom Ac¢ouniing Standards, irKludirÉ Financial Rep)rttng Stanthrd 102 The Fingncigl RPDTting Stanuord oFplicuble in the UK0 Republk of Irelond Iuniied ld0M Generalty Accepted Accountin8 Practice). In our osmnion. Ihe financial stalw)15- 8i¥e a true and fairvi•wolthe stat of the chaiitable wmparfs affairs as at 31 Marth 2023 and ILS incoming resources and 3prAicatitsn of resour¢es for the year then ended- ha been property prepared in accord with Ljnited Kingdom Genefall¥ Accepted Accountln Practice- been prepared in with ihe requirements ol the CcrfnpanÈs Art ICA)6. Basls oplnlon We conducted ow autht in accordance with Intern40Th31 Standards on Audttlryd IUKI IISAS IUKII and applicable law. Our resporstbrfitles under standards are furthef describe(J In the Audltc<s responslblllties lor the aLKlit of the finatal statementssection of our rep(YL We ¥e IAdependÈni of Ihe charitable company in accordance with the ethical requirements that are relni to our audii of the financial statements In the UK. iFKludin8 the FRC'S Ethical 5tardard. and Tt h8ve fvlfilled our other hlcal respmsibifities in &cordance ¥rith reqthrements. We believe that the audit evidtftce we have obtained is s(rffvient and appropriate to pro¥ide a basis for our ¥Mrttn. Cmclu51on5 rdallrrfto coern In audItI the fv.Jncial 5tatemert5, we have concluded thatthe tru5tee5' Use ofthE 8oir£oncem ba51$ of 3ccountlng In the Pfe4Jaratlon of ihe Inandal siatements Is approprlate. 8Jsed Dn ihe w¢Jk we havE per1orrTd. we he not Identif any material VertaintIes re1Ing to evert or cOndan5 th4 Indivldually ry colleCtty. may cast significani doubt on ihe tttsfitèble company's ability to cwtinue as a 8oin8 corKern for a period of ai least twelv months from when the flnarKlal statements are aLrthorlsed for Issue. Our i(SFnS1bilitleS and ttr rsn51b111ltS of trustoes with re5PÈrt to coin£ concern are described in the relevant 5ectiDn5 Df thi5 rep
Tl I,'oundatiun (Company Registration rx). 084373351 114DEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE GUARDIAN FOUNDAlloN FOR THE YEAR ENDED 31 MARCH 2023 Othu informatwj The other infOrmat)n corrpre3 the ithmatiOA Ilded in the ann1 report. other than the financi statements and our au¢torfs report thereon. The trustees Ire re5pun5ibie fDr the other informalft. Our opinlon on flnanclal ststcmcnt5 (knes not cover the other Infomiaiion and. eM¢epi to the exent otherwise explKidy ststed In report do not exwess any form of assuran conclusion thereon. In coftnedion wéth our audSt of the finarKial statements. ow responsibility is to read the otr information and, in (h)ing 50. considerwhether the cther irtform3ti¢n is materially inconslstent wlth the flnancial siatements, or our knowledse obialned In the audlt or oiheTw15e appear5 to be rnaterial tytisstated. Il we Ide such material inconsisten¢s or apparent material rnlsstètemerns. we è required to deteminc vthether there is a material rnisstotcment In the finaro1 staiements or a rnaterial misstatrmentofthe other informatIn. If. based onthe worwe have performed,we CDnclu(le thatthcre is a material misstatemenr of thr5 other informatiorn we are requiTcd to pOrt that fad. We have thsng to rerort in this regard_ OplnloTrs on ¢>ther mattus Pfescrlbed bythe Conwnles Aei 2(•)6 In our oplnlorn based on the work wKbertaken In th• course ol the audit the inFofmatK¥) gi¥•) in the trLIstS, rewrt. Wh ildeS directors. report prepared lor the purposes of cornpany law. for the fina•?1 year fty tthich the knaneknil stètement5 are prepared 15 con51slent wilh the financial statements. aF)d the directors. rept indled within the trustees. rerK>rt ha5 Ien prepared In accordance with applicable le8al reqwrwnents. Matters on whkh we are vequlred txtèptlon In the lifht of the knowle and UrxIearKIl£ of thechonlatAe ¢omparyand btsemronment obtained In the course ol ihe audit, we ha¥e not Identifd èny material rnas5tatemen¢5 in the directors, report Inchjded wrthin the trustees. reporL We have twhing ro rer¢ In respect of the followkng mattets In relatlon to whlch the Companle5 Act 2(J)6 retyires to report to ycw If. In (w oplnth.. dequate accountln8 re¢onls have not been kept. or retyjms adequate for (r audii have noi been received Irom briFKhes nrt visited lry u5: or ihe flnancial siatements 3fe li agreement wilh Ihe occounrin8 fEcord5 and returns- or cwtwn diScSure$ of trustees, remurneration Sofied by law are rK)t made: or we have rt recer4ed au the InforniJbon and explanations we require for ow audit,. lx 14
The roundati()n Icompany Registration no. 084373351 INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF THE GUARDIAN FOUNDATION FOR THE YEAR ENDED 31 MARCH 2023 Ihe truslee¥ were not entitled to piepare the financil statemersks in èccordance with the srnall omwnie5 re8,'me and take advanta8e oflhE small IDmpanies' exempt from the reqLJirempnl to prepare a knie8lc Report orjn yepadn8 ihe Repyt of the Director5 Iksptyuulltles al truslees As explained more lulty in the tn15tee5' fcsFrf>n5lbl.cs 5tsterncnL the trusrees (tho are also the arecto,"s of the charitaijle compary forthe pUTseS of company lawl are responsible forthe preparation of the finandal StatnIS and l%X being satisliedthattheyETve a tr arKI fairtsiew, and foryxh internal control ast trusto•s deterniinÈ is necÈssary to enable the preparntK>n of financial ststements th)1 are free from material misstatement, 4%thether (bje to fraud Of error. Ih preparing the finanoat ststements. ihe trustees we respty)sible lor ¥•sessing thc companVs abilrty to Continue as a going concern. discF05in& a5 applicable, matter5 related to going corKern and using the going concern basis of accounting unle55 the twstees either intend to liquidate the company or to cca5C operations. or have no reaThstic 3liematNe but io ¢h so. AudIto3 ruponsibililies Ivr the otthe fin•Ki¥I statements Our objertives are to obtatn reasonable assurance aboul whether the finCIal statements a5 a wPKle are free from material rn15St3temenl wlhether due to Iraud or error. and to i55up an auditor'5 fEpurt that ndudes our opiniot). Reasonable assurance Is a high Ivlel of assurance tsJt ts no¢ a guaraniee that an audit conducted in acu)rnce with ISIS IUKI will alwa deted a material mi5sratement when it eKist> Misstatements tan arise from fraud or error and are con5idcrcd wnaterial if. indwNlually or In the ¥yegate, they Could reasonab be expected to influence the ecoTrxnic deasions of users takcn on the basis of tfrtese financkil stBtement Irregularit$, including fraud. are Fnstances of non4ompliance wSth laws and wewlatlty)s. We deslBn PIQKedures In line wilh oui reswpnsibilities. otrtlit)ed above. io dt•d mat•rial misstatements in SpeCt of Irregularits. IrKludirvg fraud. The extent to thich our kYo¢edures are capable of detectinx irre8ular1ts. ilUdIr fraud is detailed 10.. The CharitableComp3rryis reauired to comply wlth bothcornpany law and charlry law and, based on our kwwl(ége of ils acir¥ities. we idÈntified that the legal requ5remÈnt to accuiatÈly accounl for restricied funds was of key s jnifKance. We g3ined an vThJeNaII of hcAV the chArItae company romplied wilh its le8al and regulatory fr•nework, indiJing the requiremcnt to property J¢count for restricied lund thTOU8h diSCWJ5ion5 WÉth m•nyrneni and a review ofthe documented PDlicie5. procedure5 and controls. The audiE team. whlth Is experlenced In the audlt of charitie4 cowdered the tharitsble ccrfnpanws susceptibility to material misstAternent and htrwlraud may o¢¢ur. Our CDnsideration cluded the risk of magernnt (¥vcrn(*.
I,"()undati(In Icompany Registration no. 084373351 INDE PENDENT AUDITOR'S REPCTTOTHE MEM8ERS OF THE GUAROWN FOUNDATION FOR TH£ YEAR ENDEO 31 MARCH2023 Our approach wa5 to check that all restricled inccvne wa5 Pror identified and separaiely ctouoled lor and io ensure that valid and approwate expendrture was charged io restrlrted funds. Thts IrKluded re4lewlng Aournal 3dIullrnents and unusual trOnrtionS. A further descripiion of wr respmslbilths for the audit of the finanaal starements is located on the Flnancial Repc¢rting Councif5websrte at." ¥AYw.frc.or ad0re5 "Lm-litles. This doxrlption fornTS Part of oura4Mhtofs repon. Use ul our feport Thi5 fEFQrt is made gjlely to the chariiablE cc¥nwrfs men4)er5. as a lxxly, in aCUXdae wilh thapter 3 of Part 16 of the Companles Act 2CQ6. audtl work ha5 undertaken. 50 thot WE might State to Ihe charltable ¢wpan¥s Mem{$ those rnatters are required to state W them in an ali10r.S report and for no other purposÈ. To thè fullÈst e.ent permltted by lavj. we do Kcepr or assume responslbllity to anyone other than the tharitable company and the charitable company's members as body. for ow audit worl for thls refft or for the opkn1$ we have fomied. Richard BillinRhurst Istnlor Siatuthry Audtorl For and behalfof: Knox Cropper LLP Chartered ALrountant5 & StatutoryAudttor5 65 Ltadenhall Street London EC3A 2AD De'. 2410712023 16
I,"ouiidation Icomoafw Re&tratiOn no. 084373351 STATEMENT OF FINANCIALA1VITIES IINCOAPOPAT1 THE INC(KWE AND EXPENDifuRE ACCOUNn For the year ended 31 March 2023 Vnrestricted Funds 2023 Hestrictcd Fuixls 2023 Total Funds 2023 Total Funds 2022 INCOME AND ENDOWME14T5 FROM: Doryatlons and leÉacles charitab activities oihrr tradin8 actr41itie5 TOTAL 871,395 871.395 533.224 16m7 1.420.716 570.703 547,346 533.224 16,tr37 887,492 533,224 I.JIB.049 EXPENorruRE ON: Charitajle actiuities News ar.d Media terac¥ Voice ard A8enry Media Viability TOTAL EXPENDITURE $49.483 103.052 152.863 JS,398 214,766 18,877 265,988 499.631 764,2419 121,929 418151 1305.029 557.658 124.784 477A116 1,160,288 Net Incomellexpendlwrel belore transfers 81094 33,593 115.687 142.2391 Transfer between knds NET MOVEMENT IN FUNOS 13 82,094 33.593 115.687 142,2391 AECONCIUATII)N OF FU140S TOTAL fuNDS AT I APRIL 2022 134,892 200,314 335,Z06 371.445 TOTAI FUNDS AT 31 MAR(X 2023 216.986 233.7 SO93 335,206 JI Income and expendrt has ansen from Nles. Pa8es Zoto 32 indude the Noies 10 thesp accowts. 17
li l)uiid¢lti(bn Icompany ReB15tralion no. 084373351 BALANCE SHEET For th.e year ended 31 Marth 2023 2023 2022 CURRENT ASSETS DebiDr5 Cash at bank and in hand li 68.49) 448.117 SI6.7 18.717 327.078 345,795 CREDITORS: atTh)unts fallrE due ¥Aihln lear 12 165.714> 110,5891 NET CURRENT ASSETS 450.893 335.2( NET ASSETS 450,893 335,2C FUNDS Unfestricted funds: General fur 13 216.986 134.892 Restritted funds 233.tr7 450.3 21x1,314 335.206 The flnanclal statements hab* been prepared In accorOarKe wrth the special prwisions in Part 15 of the ConN)anies Act relating tg small (PanIeS and the Financial fl•pryty Standard 102. Pages 20to 32 IncILethe Notes to these accwnts. The financial ststements were appro¥ed and authorised for issue the Board of Trustees on 19:, Jufy 2023 and their behalf ty:. Keizh Magee Chair Re8i#ered Ctynpary N)ber.. 1x437335 18
The I,'uuiid6ltion Icomgany Registration no. 084373351 CASHFLOW STATEMENT For the year erded 31 Marth 2023 2023 1022 Cash Ilovrt from operntpnz activit*s surp1uslldefll forthe year Adjustments for.. Ilnucase)/DeCre in debt¢X5 Inc35e/l0etf@3s@5 kn credito 115,687 142,239) 149,7731 $5,12S 121.03Y 12,4so) 166.953) 1111.ti42) Net ISe1(deCIea5ej h) (ash and cash equivalents 121.039 1111.642) Cash arKI cash equr¥eDal l April 2022 327,078 438.720 Cash and cash equr¥aentsat 31 Marth 2023 448,117 327.078 A) Component5 ofwh 3rn1 cash •4ulvalen Cash at bank and In hand 448,117 327,078 B) Analysts 0fthe$ kn net debt At l Aprll 2022 327.078 327.078 NoTrC•th At 31 Marth chae5 2023 448.117 448.117 Cash and Cash EquNalAIIts Cash 121.039 121,039
The Guardian I,'oundation ICom)aw Registration no. 084373351 NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023 i. ACtWPfflNG POUOES Cofnpt7ny 51ofuJ The Guardt4n FOwbdatn 15 a (paI)Y limited 8uarantee. In the eve4t of rhe Chaiity bein8 wound up. I+ liability in re5PECt of the guarantee 15 Iwnited to £1 per r[Mber of the Charity. 8op5 ofpreparorkn olAwunclolstotements The flnanclal statements of the chartty. which Ts a wbllc benefft enty under FR5102, ha bèen prepared under the hisiorical fosi ¢onvenD"on. They have Deen prepared in accordance wrth applicab United Kirydom accounting sraNlards. Ihe Tequiremenu of the Siatemeni of Recommended pract 'ACtoting and RertIng by tharrties. ISORP FRS 102 second editK)nJ, In cordance ith the finèncSal ReportlnÈ Stsndard ardicable In the UK IFIIS 1021 and the Charits Act 2011. The Trusteos ronsKler ihat there afo no matprial uncortainties knut thÈCharity's ability lo tontinuÈ as a 8oiry concwn In lowm% thi5 opinKyn, Ihey have cDn5idEred the Iwg ie¥m STllPatt Df the e(onornic context on both its irKome and expenditure for 01 least a period of iwelbE Mont1 ihe date OF approval of these financial statements. Scott Tru5¢ as Wlncipal funder. have stated an Intentbn. sUbctt0 ihe anNal budgetlrg process, io contlNe to fund The Guardlan Foundatlon least the fivLLyear perlod Commend1 In financ131 year 2022123. through 10 2026n7, reflèttlnÉ Ir tlrnline of the iuryert 5trateeic plan. Therefore. the 5ta:ements have been prepared on a going comem tsa51S. Key Judgements and oss(KnptiOnS There are no key jddgements ar assumptlons used in applwrq the xCountir policies. Fund0ccotIn0 Genefal funds are unreqrbrted lunds whith are available for use at the discretion of the TfUStee5 Ift furtherne of tht general obje£ti¥es of the Charity have not been desi8nated for other Restiicled fund5 ate furHI5 wh5ch are tv bE used In a[C(ydan Mth 5petrfii re5trirtior15 wnpoSEé by donors which ha been ratsed by the Charity for parriculèr purpjsek The alm and Lse of each restricted fund 15 set oul in rhe noie5 ro the financial Statements. Incoming resources All in¢ominÉ resourccs arc indudcd ID theStatcmcDtof Firkinci)IA¢tivÈtiC5 wn the CharityisleKally ents't'.ed tc the Income and the amoLtrtt can be quantified with reasonable accuracv. 20
I,'()und<i()n (Company Regi5trali¢n r. 084373351 NOTES TQ THE FINf4NaAL STATEMENTS For the year ended 31 %Aarch 2023 Donation5 Donaiions are reco8ni5ed when the tharity has Iwn nthified in writing uf th the amount and the senlemeni date. In the thnt that a donatjon Is wt4e¢t to ¢(dirS that Tequire a IMI of performorKe by the charlty befofe the charlty Is entffbed to the nds. the income 15 delerred and not recoed until eiiher those con¢itions are fully met, 01 the fullllment Of those con¢t¢lun51s wholty within the control of the tharrty Jnd Is sYob3ble that these (dIllonS will be fulfilled in the reporting period. Gift5 in kind Gifts in kind Present ser¥kes wlomied by GNM GIK on behalf of the charity. Gifts in nd re rcoÉnised at the ow rnarket rate and wFthin both Intome and expendituie. Rv50urces expeled All exwidilure is ac(ounied foronanaccwals basisar ha5 been included uNdere#pense categories th4ta88regote all costs fDrallLKation to a(tNitE5. Support CO515, whith cannot be dire(tty attributed to partlcvlar xdvlljes, have been alwted on a b consistent Iwth the use of resources. with ceThiral sraff costs allocated on the basis of time spent, arwj depreciation char8es allocoted on the portion of the t's use. Othei supwt Costs are alocazed ba5e¢ on rhe Spread of5taff £05ts. All rexurtts expended Inc9Ve ol irreco4er3ble VAT. Dpbtors are recognised when the ch¥ty is legalty eniitled to the in¢ome after any perfwmance conditio1 have been met. the arnount can be measured reliably, ond tt 1> probable that the income will be rece'.ved. A provisKsn for the impairrntnt of debtlys is established when ihefe is evi¢ence that ihe charily will not t at4e to collert all wnwnts accordinc to the orqinal tÉrm5 of the recei¥able5. Cosh ondco5h equivalents tsh Is rePeSented by cash In hand and deposits vrith financial institutions paYable WItUt pEnalty on nvtice of not mre than 24 hours. Cash eqUalentS are hl8hly Ilquld Inve5tmenis that matUFe kn no rnore than 3 months frown the date of acqulsltion and thai are rdIlY can¥rtible tv kmwn amounts of cash wr<h insignifKani risk of chawt In val. Credltors sIrt term creditors are rnea5ured at the transacn price. Cxeditors are reco8ni5ed when the charity has a present lesal or £onstnxti¥t obligation re5ults.ns from a past cvent to make payment to a third party. it is protble that settlement *rill be reQred aftd the amount due to sellle ihe obli83tn meastjred or estimated reliably. 21
I,'i)uiidati(In (Company Registratton no. 084373351 NofES TO THE FINANUALSTAIEMENTS For the year ended 31 March 2023 Toxotl ThÈ tharlty Is extmpr from taxatb)n In $Pert of IncomE or capital Bains rKeried within catE¥ofi25 covered by Chapter 3 Part 11 of rhe Corwration Tax Act 2010. to the extent that suth Income or gahs are applied eXdLi4 to (rItsb1e purposes. ForeN9n Exchonge Transacrions in loreT¢n cwrerKle5 are recorded at the rate of exchange at ihe dare of the transaclion5. MOnet2%5ètsand liabilities denominaied in forei (ucnaL% at the balancesheet date are at the rate5 of exthanie pre¥ailing Jt that d•te. Pen5iOftS Guafdi•n Media Group plc operales a defined contsibution pension scheme. of whkh thp Charit¢s Staff are rnembers. COntriblL are In accold0e wlth scheme iulek and charged to Dperat¥ pfofil a5 incurrEd. 2. INCOME FROM tK)I4ATI15Ao LEGACIES Unrèstrlrted Funds 2023 Unrestricted Funds 2022 Donaln5 from The Scott Trust Donation5 from Inthvidudls Oonations from 0rgantsatrtS in Kind 642.C Sa,9 26.564 149.822 871.395 435.( 30,544 105.159 570.103 3. FROM CHAAifADiE ACTMnES Restricted Funds 2023 Tol•l Funds 2023 Funds 2023 Prosramme5 3rKI Projprt5 533.224 533.224 533.224 533.224 INCChME FR(W CHARITABLE Acrn. COMPARAYIVE Vnr¢5ViCted Funds 2022 RtrItted Funds 2022 TDtal fund) 2022 Programmes and prOtt 547.346 547.346 547,346 547,346 22
14()undati()n Icompany Re8i5tration no. 084373351 NOTES TQ THE FINANaAL STATEMEP4TS For the year ended 31 March 2023 EXPENDITURE ON CHARffA8LE AawmES Underiaken Dlrectfy Cost5 (Mote Sl Total 2023 Neivs and Literacy Voi¥e and 14gcrKy Media Viabilrty 485.330 77M30 265.988 828.748 278.919 44.499 152.863 476,281 764.249 121.929 418,851 1,305,02Y Unrestricted Funds Restricted Funds Total 2023 News and Media Ltterary vol ané AgerKy Media Viability 214.766 18.877 265,9B8 4Y9.631 764.249 121,929 4]85] 1.305.029 lo352 152.863 805.398 EXPENtfftlRE ON CHARtTA8LE ACTivmES. COMPARATNE Activity Undertaken Dirert Support Cu5t5 (Note 51 Toidl 2022 News ar Media Liieracy Voi(e arml Agency Media Viat+ilily 4l.051 91.3 349.650 849.lJ19 I49.? 33.476 128,196 311.279 557.658 124.784 477.846 I,If4).288 Unresiri¢ Fund5 Resirthd Funds Total 2022 News and Medla Literacy VOICÈ and Aeencv Media Mablity 392,180 86.8C6 128,195 607.181 165.478 37,978 349,651 553.107 557,658 477,846 1.160,288 In addition to the expendr<ure aftatysed above. there are a150 gcvem¥Kc ¢osts of £ll.$0112022: £8.?841 whith relate directty to charitable xti¥itse5.
14()uiidatiiin Icompony Re8i5tration rwj. 084373351 NOTES TO THE FINAN'aALSTATE•AENTS For the yeaf ended 31 Wrth 2023 SUPPORT COST5 New5 & Me(Jia Ltteracy Vce & enty Media Vlabllity Total 2023 stsff 193.797 80.323 7,415 6.735 {9.3511 278,919 30.919 12,815 1.183 1.075 11.493} 44,499 106.212 44.022 4.064 3.691 15,1261 152,863 330,928 137.160 12.662 11501 115,970 476.281 Premi5e5 Finance Governance Othef Total Expenditu SUPPORT COSTS. COMPARATIVE News & Media Liter Kloice & Agen Media Viability Total 2022 stsll 81A31 45.054 5h87 3.981 13,654 149.&37 18,221 10,082 1,228 891 3.054 33.476 69.777 38.606 4.701 3.412 11,699 138,196 169,429 93,742 11,417 8.284 28,407 311,279 Premises FiniTKe Governarye Tolal Expethure 6. NET INCIXdVEXPENQiTURf FOR THE YEAR 2023 2022 Thlsls Stared after char8ing: Audii Fees Other Grnance Costs 4,501 24
Fdtsn Ii()uiidaliiin Icgmpany Rewstration rto. 084373351 NOTES TO THE FINANQAL STATEMENTS For the year ended 31 Morch 2023 7. ANALYS15 OF GRAKfs Gr•ts to ItItutIOnS 2013 2022 Gfants lo IDdi¥iduals 2023 2022 Education- p05t8raduate schdar5hip5 Funding- Turkish jou.'nalism inttiative Parrnershlp- lournallst reco8nitiun awards EdLtstions- Newslsteracy project Funding- UnderrepreSend w>kes knitbaiive 33.087 169.1 32X 260,394 12.976 14.159 32555 35?.093 2L888 19DXI 36.941 7.596 346.730 21A88 19.¢YJO sUt costs a5$0tiated with zrant makir 192.596 143W16 MATERIALGRANTS MADE TO INS[[0145 2023 2022 Nam• d Ins¢ftuthn Golcsmiths Colleg Cny Unv4ersity ol London Uniwersity of Sheffld DMi4 Chuich Artion on Pobtrty Screen Education Edinbur8h Nii¢lonal Literacy Trust European Press Pfize Four C¢Jr1r5 Oon¢opolitan PSHE As50Cldtion CYMRU Creations Unllmlted Poientlal Northem Voice & Agenc Volce & Agency Voire & Agenry Medva Wiabiltty Voice & A8erKy Voice & Age News & Literacy Voic¢ & Agency News & Media Lfjtefary Voice & A4ency Ne & Medi4 Liieiacy Voice & Agency Volce & rKy Voi¢e & rKy 11.063 10,733 11,292 169.106 10,695 10.523 10.79Z 2KI,394 4,OJO 6,400 11.159 12.976 5.000 9,186 3.000 6,966 I,ooz 1,6 37,670 4.272 1.7 1,7C(I 1.594 246,730 352,093
The I,'ouiidation (Company RegistraTion no. 08437335) NOTES ro THE FINANCIAL STATEMENTS For the ypar ended 31 Marth 2023 B. TRUSTEE REMUNERATION AND EXPENSES No Trustees. mrany persons connerted wtth them. haVerece1d a)y remunerati1 fromthtch¥lty lin8 ihÈ year {2022.. nlll. No TnJsteE5 ltswe receivEd any reimbutsed expenses or arry other rterF from charity during Ihe yèaf12022= nlll. STAFF NUMBER5AMD COSTS The aB£8 payroll costs were as follows". Totsl ZO22 2023 Wages and sal¥ies Social 5eLwrFiy £0515 Pensn cts5ts 634,255 64,9SS 58.870 758,10 475,425 47.777 46,787 569,989 The monthly aage nwnber of per50rfj liKlu<lng ihe senior management teaml empknyed try the chaTitydu¥ing the year e¥prE551 a5 f¥JlMime eqBv¥alent5 Was a5 fDIIu4¥5: Number Number iana8ement CharitalAe activities li 15 12 12022.. 121 of the above empknyees participated the Defined Contribution Pension Scheme& Duri the year. nil1202L' r¥1} mernber5 of 5roff wcrc rnadc wcdurKlont. The number uf unpltyees whose emoluments fdl within the followini bands was.. 2023 Z022 £,(•1- £70.000 £70,1 - E80.000 £9J,C•Ji . £1,0 Em0.(1. £iio.wo The total ernOyee benefft5 of the key rnanogement personnel of the Iharltywerp £188.31812022.. 128.4071.
I,'ouiidation Icompafty Registration no. 084373351 NOTE5 TO THE FINANCIAL sfATEMEPKS For the year ende(131 March 2023 10. TAXATION The Chorrtv 15 exempt fram corporation tax as all rts irtome is chafltable t1 is applied for chafltatde purposes. li. DEBTOR5 2023 2022 Trade reCeINe5 prepat5 VAT Other debttys Accrued IOrne 28,967 I,iod 749 36.774 68.490 18.717 18.717 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 20Z2 Tr3dE Creditor5 DJe to related partios Sodal security and other raxe5 Accruals 4.062 59,9 65,714 6.S22 10.589 27
The r()uiid(Ition (Company Regist'ation no. W373351 NOTES TOTHE FINANCIALSTATÈMENTS Forthe year ended 31 March 2023 13. STATEMENT OF FUNDS 8rouiht Forward 2023 Cirrled Fonvard 20Z3 Resourres Expended Trnnsfefs UWREsfR1ED WNOS General fu 134Jlg7 887.492 (805.398 Z16.986 RESTrICTED FUNDS NwsWise Pro8ramrne SEND News Lrteracy Re50urce5 Media Literary Amba$4dor project Media Makers proiect Made In Britain Local Mcdia Dcyclopment Podcast tiaining proJKt Turkey Incubator programme Total restfknedfund5 23977 Im3 240.843 1156.8081 {8.0911 149.8611 111,0311 14,3521 13.5(Xll 18601 (265,1281 1499,6311 108.012 50.441 77,898 580 71.568 2.320 16.940 4.701 6.(17? 20A40 8C4J 142.661 20J.314 156,954 533.224 34,487 233,907 Total fund5 3352( 1.420.716 11.305.029) 450.893 The S1C pUr$¢S for ¥knKh the restricted furKls arE to b2 appfied a as Foll¢xfS". Newswkn prt7gmryne Funding recelveo from Ofcry Uknr$4ty of 8irmw¥ham and StiltLWI8 Auxdlum for InitiattNP5 Within NewsWi5e. a free. CIVruN1¢Y13 new literary prdect for 7-11 yeardd5 across the UK in partnership with National terac¥TruSt and ISHE Assouation.The aim oftr.e prDgr¥mme Is io Èmpowerchildren and yourq people Kr055 the UK toacce5s. understan¢ crldcally analyse a1 participate In the new SEND News titer¢Ky Resourres FuNtin8from COASto support the development of news literacy resources and training forteacheis of thildren and wuns wple with Special Educational Need5 and Doatslrties. Fundin8from DCMSto supptjrt 3 free Media LiterwArnbas5athr Progwme, traini young people 9-13 In Ihe fvl¥Jlar¥Js, GTeattr TrheSteraTrd South and West Vorkshireto teach their pt@rs bout m¢s and d151rforman. enhanorE medÈa liierèty skills.
I,"ouiidation (Company Registration no. 084373351 NOTES TO THE FINANCIAI STATEMENTS For the par ended 31 March 2023 Medyt7 Mokw5 Funding provided by 8re8al Invèstments via PTism the rft Fund. for tht deltvery of an interrthip scherr in partnefshy with CaFryn fw entry le¥el jovrnalists fr¢yn undEf-rewesented backErounds. PAode In 8rft Funded by Paul Harnlyn Fndat for a cdkb¢M3ibJe t¥ofrrt the ardIan muttlmedla tea almlré to ekvaie those who rnlght barrlers to havlng theIrlICe5 heartt In the media. The result was an excellent %fjileo ioumalism sers. examin1 the $0(ial ¢halenges peop are facin& told bv people who a fxin£ them. ocol mcd iltvclapmcnt A donation from Lankelly Chase to convene discussK)n arml f1 Initiatv4es that further the capadty of local rnedia in the UL Pod£ost trorning prwt Donal Ir(Th the s1$h Insiilute. provided io f1• ilate Irnir in podcastin8 to Ttjrkish jOUfnalist5, ifKludiry technical skills, interviewin8 and tching. The aim wa5 tu 5UF5PLIrt and improwe independent journa.15 Within Turkey. build 5ki11sin m(wJern tethnolts8ies tell slories in new ways and reduce barriers to entry for loumalists. T4Jrkeyln(u&otor proqromme Funding provided ty 51DA lor the Incubator lor Independent Media project in Turkey. Workin% with loral portnefsto pro¥iee opportunts'e5 for Turkt5h profÈssaon31s to develop their own projects, a5 well as buihlir¢thecapadtyof mediatrainers. pr(xlucingvaluable learning res¢urce5 aml rcsearch into the media sector.
The I",ouiidation Icompary Registration no. 084373351 NOTESTO THE FINANCIALSTATEMEfrfS For the yea.. ended 31 March 2023 STATEME14T OF FUNDS- COMPARATIVE Brou Forward 2022 rriEd Forward 2022 Incomi Resource5 Expended Transfers UNRESTrICtED FUNDS General lund In.369 570.703 I7,1?4)> L34.892 RESTRIrn FUNOS NewsWi5e ProGranme SEND News Lllerdry ftesource5 Media Makers Alchfve transcrlpiion proktt Archiv$ and the bistory ol journalism int¢ractb4e workshops frAade iri Bril8in Local Media Developmert Poast training project Turkey incubator prcgr•mme Total restricte(J fiJnds 5020 2058 4,701 1133.739) (19,8551 23.977 1,003 4.701 1.768 IL7681 4.117 33.085 {10.117) {26.4191 111.5601 144.9701 1304.6801 1553.J081 6.67?. 20.440 860 142,661 200.314 32XMXI 4530 387.141 547.346 Eil.2U) 2(.076 Total fiknds 377.445 1.118.049 1.160.288) 335.206 14. AI&4LYSIS OF NET ASSETS BETWEEN FVNDS Tot31 Funds 2023 Unrestricted Fund5 Re5tritted Funds Current assets Currenl liabilitie5 22550 18,8641 216.986 1,757 {56.8501 233.9J7 516.607 165,7141 450,893 ANALYSIS OF NET ASSETS 8ETWEEN Fin4DS. COMPAIIATIVE Total Funds 2022 Urrfesthaed FUNJS Re5trlcted Funds Currentassers Currenr Ikibilitie5 2Th1.3J4 345,795 110,5891 335,206 110,5891 134,892 2CQ.314
The I,'uundation (Company Rcgistiation no. 08437335) NOTES ro THE FINANCIALSTATEMENTS For the ytar ended 31 March 2023 IS. RELATED pTy TRANcnoNs Ourfvd the year the tharlty ma(le the folk)wir related party tran5actw)ns: Thescott Trust Limlted tharitable donations at ams lewh of £6421032. £435.1) have been ieceived fromThe Sc¢Xf Trusi Lwnited. ? reloied pffj of ihc Charity. At the aT cnd. the amount tolfrom The kott Trust Ljmrtpd was nll12022.. nlll. Guardian Medio Group pk At the year end the amount due to the Guardian Media Grnup plc was nil {2022- £5.41. Guor¢fiart +Vew.s & Metha Limited Gifts in nd at arms len8th 0 £149,822 P022.. £105,159) ha¥e been received Irom Guardtsan News & Mwjia Lwnited. a Velai party of ¢he Charity. At year end. the arnount due to Guardian News & Media Limited was É5.80612022: £1338 due fffn Guardian New5 & fvAedia Ltmitedl. 31
The l.'oundation I(panY Registration no. (W37335) NOTES TO THE FINANC STATEMENTS For ihe year ended 31 March 2013 16. COMPARATIVE STATEMENT OF FINANCIAL AcfNIIY Unrestricted FU15 2022 Restricted Fund5 2022 Total 2022 INCOW APID EPIDOWMEIITS FROM: Donatlons and legacles Charitable attivities Othertrading activit TOTAL S70,703 570.703 547.346 S47.346 570.703 547.346 1.118.049 EXPEf4DITURE ON: tharitable activiti?$ News 3nd Medlo Llteracv Voice and Aee Medla Wabl'lty TOTAL EXPENDITURE 392.180 S606 128.195 607.180 165.478 37.979 349,65D 553.108 557.658 124,784 477,846 1.160288 Net Iorne/(ed1tel before transle 136.4771 (5,7621 142.2391 Transfer bet4¥een fuNIs NET MOVEMENT IN FUNDS ia6,4771 (5.7621 1422391 RECONCIIIATION OF FUNDS TOTAL FUNDS AT I APRIL 2021 171.369 206.076 377,445 TOTAL FUNDS AT 31 MARCH 2022 134.892 2CQ.314 335.21 32