2023-04-30-accounts - The Project For Modern Democracy

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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 2023

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 2023	11

The Project for Modern Democracy Reference and Administrative Details

Trustees Nicholas Herbert (Chairman) Guy Baker John Booth Mark Melvin Registered office 108 Sandford Road Chelmsford Essex CM2 6DH Company Registration Number 08472163 Charity Registration Number 1154924 Accountants Clive G Chadney Ltd 108 Sandford Road Chelmsford Essex CM2 6DH Independent Examiner Clive G Chadney Ltd Office and Correspondence Address 108 Sandford Road Chelmsford Essex CM2 6DH Website www.p4md.org Email info@p4md.org

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:

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.
The promotion of civic responsibility and good citizenship for the public benefit.

Review of the year

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

28 February 2024

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 2023 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 28 February 2024

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 2023 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 28 February 2024

The Project for Modern Democracy

Statement of Financial Activities for the year ended 30 April 2023

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Notes Donations and legacies 3 Charitable activities Raising Funds 4 Net expenditure Net Movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward	2023 £ 225,502 (204,926) (9,443) 11,133 11,133 44,033 55,166	2022 £ 235,317 (195,595) (8,569) 31,153 31,153 12,880 44,033

The Project for Modern Democracy Balance sheet as at 30 April 2023

Notes Fixed assets Tangible assets 8 Current assets Cash at bank and in hand 60,546 Creditors: amounts falling due w 10 (7,217) Net current assets Net assets Unrestricted income funds Unrestricted funds 11 Total funds	2023 £ 1,837 53,329 55,166 55,166 55,166	2022 £ 2,161 54,727 (12,855) 41,872 44,033 44,033 44,033

For the financial year ending 30 April 2023 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 28 February 2024

The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2023

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 23 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	2023 £ 225,502 2023 £ 9,443 9,443 2023 £ 204,926	2022 £ 235,317 2022 £ 8,569 8,569 2022 £ 195,595

6 Trustees remuneration and expenses

No Trustees received remuneration during the year 2023 (or 2022)

The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2023

7 Staff costs Wages and salaries Average number of employees during the year 8 Tangible fixed assets	2023 £ 29,590 29,590 Number 1	2022 £ 29,589 29,589 Number 1

Cost or valuation At 1 May 2022 At 30 April 2023 Depreciation At 1 May 2022 Charge for the year At 30 April 2023 Carrying amount At 30 April 2023 At 30 April 2022 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 2022 44,033 Balance at 1 May 2022 12,880	Incoming resources 225,502 Incoming resources 235,317	2023 £ 60,546 2023 £ 5,704 1,513 7,217 Resources expended 44,033 214,369 Resources expended 204,164	Fixtures, fittings, tools and equipment At cost £ 2,958 2,958 797 324 1,121 1,837 2,161 2022 £ 54,727 2022 £ 8,606 4,249 12,855 Balance at 30 April 2023 55,166 Balance at 30 April 2023 44,033

The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2023

12 Analysis of net assets between funds Current assets Current liabilities Total net assets	2023 £ 60,546 (7,217) 53,329	2022 £ 54,727 (12,855) 41,872

13 Presentation currency

The financial statements are presented in Sterling.

The Project for Modern Democracy Detailed Statement of Financial Activities for the year ended 30 April 2023

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	2023 £ 225,502 - 225,502 (204,926) (9,443) (214,369) 11,133 11,133 44,033 55,166	2022 £ 235,317 - 235,317 (195,595) (8,569) (204,164) 31,153 31,153 12,880 44,033

The Project for Modern Democracy Detailed Statement of Financial Activities for the year ended 30 April 2023

Donations and legacies Donations Charitable activies Charitable activities - (general) Charitable activities - (research) Charitable activities - (travel) Charitable activities - (research salaries) Raising funds Accountancy fees Bank charges Advertising and PR Software	2023 £ 225,502 8,218 165,725 1,393 29,590 204,926 2,304 186 1,324 5,629 9,443 9,443	2022 £ 235,317 25,162 139,419 1,425 29,589 195,595 2,922 150 1,051 4,446 8,569 8,569