Company registration number: 08472163 Charity registration number: 1154924
The Project for Modern Democracy (A company limited by guarantee) Report and Financial Statements
for the year ended 30 April 2022
## **The Project for Modern Democracy Contents**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Accountants' Report|2|
|Trustees' Report|3|
|Independent Examiner's report|4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7|
|Detailed Statement of Financial Activities for the Year Ended 30th April 2022|11|
**The Project for Modern Democracy Reference and Administrative Details**
|**Trustees**
**Registered office**
**Company Registration Number**
**Charity Registration Number**
**Accountants**
**Independent Examiner**
**Office and Correspondence Address**
**Website**
**Email**|Nicholas Herbert (Chairman)
Guy Baker
John Booth
Mark Melvin
108 Sandford Road
Chelmsford
Essex
CM2 6DH
08472163
1154924
Clive G Chadney Ltd
108 Sandford Road
Chelmsford
Essex
CM2 6DH
Clive G Chadney Ltd
Tintagel House
www.p4md.org
info@p4md.org|
|---|---|
1
## **The Project for Modern Democracy Trustees' Report**
The Project for Modern Democracy is an independent, non-party think tank set up in 2014 to promote more efficient government and good citizenship. Our formal aims are:
1. The promotion of efficient government. 2. The advancement of education to inform and contribute to overall public knowledge on issues of government, public administration and public service delivery.
3. The promotion of civic responsibility and good citizenship for the public benefit.
## **Review of the year**
Our major project was the Commission for Smart Government which reported in July 2021. After a year’s work, the high-level group of leaders from politics, public service and business urged a far more ambitious programme of Whitehall reform, warning that without transformative change the policy goals of governments would not be met. Further information can be found at www.governsmarter.org.
Our Global LGBT Rights and Citizenship project continued its work, evaluating how active and engaged citizenship can be enhanced through improved rights for LGBT+ people around the world. We continued to support the Global Equality Caucus.
## **Nicholas Herbert**
Chairman of the Trusteees
21 February 2023
2
## **The Project for Modern Democracy**
## **Accountants' Report to the Trustees of The Project for Modern Democracy**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Project For Modern Democracy for the year ended 30 April 2022 as set out on pages 5 to 9 from the Company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Project For Modern Democracy, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Project For Modern Democracy and state those matters that we have agreed to state to the Board of Directors of The Project For Modern Democracy, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Project For Modern Democracy and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Project For Modern Democracy has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of The Project For Modern Democracy. You consider that The Project For Modern Democracy is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of The Project For Modern Democracy. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Clive G Chadney Ltd 108 Sandford Road Chelmsford Essex CM2 6DH 21 February 2023
3
## **The Project for Modern Democracy**
## **Independent Examiner's Report to the Trustees of The Project for Modern Democracy**
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 April 2022 which are set out on pages 5 to 9.
## **Respective responsibilities of Trustees and Examiner**
As the charity’s Trustees of The Project For Modern Democracy (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 Project For Modern Democracy 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:
- 1 accounting records were not kept in respect of The Project For Modern Democracy 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.
Clive G Chadney Ltd 108 Sandford Road Chelmsford Essex CM2 6DH 21 February 2023
4
## **The Project for Modern Democracy**
## **Statement of Financial Activities for the year ended 30 April 2022**
(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)
|**Notes**
Donations and legacies
3
Charitable activities
Raising Funds
4
Other income
5
Net expenditure
Net Movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**2022**
**£**
235,317
(195,595)
(8,569)
-
31,153
31,153
12,880
44,033|**2021**
**£**
246,048
(236,309)
(5,746)
1,632
5,625
5,625
7,255
12,880|
|---|---|---|
5
## **The Project for Modern Democracy Balance sheet as at 30 April 2022**
|**Notes**
**Fixed assets**
Tangible assets
8
**Current assets**
Cash at bank and in hand
54,727
**Creditors: amounts falling due w** 10
(12,855)
**Net current assets**
**Net assets**
**Unrestricted income funds**
Unrestricted funds
11
**Total funds**|**2022**
**£**
2,161
41,872
44,033
44,033
44,033|**2021**
**£**
2,357
12,501
(1,978)
10,523
12,880
12,880
12,880|
|---|---|---|
For the financial year ending 30 April 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements on pages 5 to 9 were approved by the Trustees, and authorised for issue on 21 February 2023 and signed on their behalf by:
Nicholas Herbert Chairman of the Trustees Approved by the Board on 21 February 2023
6
## **The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2022**
## **1 Charity status**
The charity is limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation.
These financial statements were authorised for issue by the trustees on 21 February 2023.
## **2 Summary of significant accounting policies**
## _**Exemption from preparing a cash flow statement**_
The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.
## _**Summary of dsiclosure exemptions**_
The Project For Modern Democracy meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements, which are presented alongside the consolidated financial statements. Exemptions have been taken in relation to financial instruments, presentation of a cash flow statement, intra-group transactions and remuneration of key management personnel.
## _**Support costs**_
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## _**Governance costs**_
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.
## _**Cash and cash equivalents**_
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## _**Fund structure**_
Unrestricted income funds are general funds that are available for use at the Trustees's discretion in furtherance of the objectives of the charity.
|**3**
**Income from donations and legacies**
Donations and legacies:
Donations from individuals
**4**
**Expenditure on raising funds**
Allocated support costs
**5**
**Expenditure on charitable activities**|**2022**
**£**
235,317
**2022**
**£**
8,569
8,569
**2022**
**£**
195,595|**2021**
**£**
246,048
**2021**
**£**
5,746
5,746
**2021**
**£**
236,309|
|---|---|---|
## **6 Trustees remuneration and expenses**
During the year the charity made the following transactions with Trustees: Nicholas Herbert received no remuneration during the year (2021: £39,997).
7
## **The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2022**
|**7**
**Staff costs**
Wages and salaries
**Average number of employees during the year**
**8**
**Tangible fixed assets**|**2022**
**£**
29,589
29,589
**Number**
1|**2021**
**£**
27,396
27,396
**Number**
1|
|---|---|---|
|**Cost or valuation**
At 1 May 2021
Additions
At 30 April 2022
**Depreciation**
At 1 May 2021
Charge for the year
At 30 April 2022
**Carrying amount**
At 30 April 2022
At 30 April 2021
**9**
**Cash and cash equivalents**
**10**
**Creditors: amounts falling due within one**
Other taxes and social security costs
Other creditors
**11**
**Funds**
Unrestricted funds
General
Unrestricted funds
General|**year**
Balance at 1
May 2021
12,880
Balance at 1
May 2021
7,255|Incoming
resources
235,317
Incoming
resources
247,680|**2022**
**£**
54,727
**2022**
**£**
8,606
4,249
12,855
Resources
expended
12,880
204,164
Resources
expended
242,055|**Fixtures,**
**fittings, tools**
**and equipment**
_At cost_
**£**
2,773
185
2,958
416
381
797
2,161
2,357
**2021**
**£**
12,501
**2021**
**£**
778
1,200
1,978
Balance at 30
April 2022
44,033
Balance at 30
April 2022
12,880|
|---|---|---|---|---|
8
## **The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2022**
|**12**
**Analysis of net assets between funds**
Current assets
Current liabilities
Total net assets|**2022**
**£**
54,727
-
54,727|**2021**
**£**
12,501
-
12,501|
|---|---|---|
## **13 Presentation currency**
The financial statements are presented in Sterling.
9
## **The Project for Modern Democracy Detailed Statement of Financial Activities for the year ended 30 April 2022**
|**Income and Endowments from:**
Donations and legacies
Grants received
Total income
**Expenditure on:**
Charitable activities
Raising funds
**Total expenditure**
Net expenditure
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward|**2022**
**£**
235,317
-
235,317
(195,595)
(8,569)
(204,164)
31,153
31,153
12,880
44,033|**2021**
**£**
246,048
1,632
247,680
(236,309)
(5,746)
(242,055)
5,625
5,625
7,255
12,880|
|---|---|---|
10
## **The Project for Modern Democracy Detailed Statement of Financial Activities for the year ended 30 April 2022**
|**Donations and legacies**
Donations
**Charitable activies**
Charitable activities - (general)
Charitable activities - (research)
Charitable activities - (travel)
Charitable activities - (research salaries)
**Raising funds**
Stationery and printing
Accountancy fees
Bank charges
Advertising and PR
Software
Sundry expenses
**Other income**
Grants received|**2022**
**£**
235,317
25,162
139,419
1,425
29,589
195,595
-
2,922
150
1,051
4,446
-
8,569
8,569
-|**2021**
**£**
246,048
21,267
187,452
194
27,396
236,309
2
2,664
-
-
2,705
375
5,746
5,746
1,632|
|---|---|---|
11