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 2024 The Project for Modern Democracy Contents Page Reference and Administrative Detsils Accountants, Report Trustees, Report Independent Examinels report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detsiled Statement of Financial Activities for the Year Ended 30th April 2024 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 Independant Examiner Clive G Chadney Ltd Office and Correspondence Address 108 Sandford Road Chelmsford Essex CM2 6DH Website md.or Email info 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. The adVan￿rnent of education to inform and contribute to overall public knowledge on issues of government, public administration and public seNice 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 lo support the Global Equality Caucus until 31 January 2024. Nicholas Herbert Chairman of the Trusteees 18 February 2025 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 2024 as set out on pages 5 to g from the Company's accounting records and from information and explanations you have given us. This report is made solely to the Board ol Directors of The Project For Modern Democracy, as 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, thereft)re, express any opinion on the statutory accounts. Clive G Chadney Ltd 108 Sandford Road Chelmsford Essex CM2 6DH 18 February 2025 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 2024 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 accordan￿ with the requirements of the Companies Act 2006 ('the 2006 Act'i. 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 Acl 2011 I'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 lo my attention in ¢onneclion with the examination giving me cause to believe.. 1 accounting records were not kept in respecl of The Project For Modern Democracy as required by Section 386 of the 2006 Act.. or 2 the acxounls 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 Ihe 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 lapplicable lo 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 lo be reached. Clive G Chadnéy Ltd 108 Sandford Road Chelmsford Essex CM2 6DH 18 February 2025 The Project for Modern Democracy Ststement of Financial Activities for the year ended 30 April 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Notes 2024 2023 Donations and legacies 162,123 225,502 Charitable activities 1191,991) 1204,926) Raising Funds {8,008) {9,443) Net expenditure (37,876) 11,133 Net Movement in funds (37,8761 11,133 Reconciliation of funds Total funds brought forward 55,166 44,033 Total funds carried fO￿ard 17,290 55,166 The Project for Modern Democracy Balance sheet as at 30 April 2024 Notes 2024 2023 Fixed assets Tangible assets 1,560 1,837 Current assets Cash at bank and in hand 19,736 60,546 Creditors: amounts falling due M 10 (4,006} {7,217) Net current assets 15,730 53,329 Net assets 17,290 55,166 Unrestricted income funds Unrestricted funds 11 17,290 55,166 Total funds 17,290 55,166 For the financial year ending 30 April 2024 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 18 February 2025 and signed on their behalf by.. Nicholas Herbert Chairman of the Trustees Approved by the Board on 18 February 2025 The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2024 Charity status The charity is limited by guarantee, incorporated in England, and consequently does not have share capitsl. Each of the Iruslees is11able to contribute an amount not exceeding £Nil Iowafds the assets of the charity in the event of liquidation. These financial stslemenls were aulhorised for issue by the trustees on 18 February 2025. Summary of significant accounting policies Exemption from preparing a eash flow statement The charity opted lo early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a Cash flow statement in these financial ststemenls. Summary of dsiclosure •x¢mptlons The Project For Modern Democracy meets the definition of a qualifying entity under FRS 102 and ha5 therefore taken advantage of the disclosure exemptions available lo it in ￿Spect of ils separate financial slalements, which are presented alongside the consolidated financial slalements. Exemptions have been taken in relation lo financial instruments, presentation of a cash flow slalement, inlra-group transactions and remuneration of key management personnel. Support costs Support costs include central function$ and have been allocated to activity cost categories on a basis consistent with the use of resources, for example. allocating propety costs by floor areas, or per capits, Staff ¢osts by the lime spent and other costs by their usage. Governancè costs These include the costs attribulabl8 to the charity's compliancg with constitutional and slalulory requirements, including audit, strategic management and Iruslees's meetings and reimbursed expenses. Cash and cash equival•nts Cash and cash equivalents comprise cash on hand and call deposits, and other short-lerm highly liquid investrments that are adily convertible lo a known amount of cash and arè subj8cl lo an insignificant risk of change in value. Fund structure Unrestricted income funds are general funds that are available for use at the Iruslees's discrètion in furtherance of the objectives of the charity. Income from donatlons and lega¢i•s 2024 2023 Donations and legacies.. Donations from individuals 162,123 225,502 Expenditure on rot8lng funds 2024 2023 Allocated support costs 8.008 8.008 9.443 9,443 exponditur• on charitable aelivltlas 2024 2023 191,991 204,926 Trustses remuneration and expenses No Trustees received remuneration during the year 2024 lor 2023} The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2024 Stsff costs 2024 2023 Wages and salaries 29,590 29,590 29,590 29,590 Avoragg number ot employees during the ygar Number Number Tangible fix•d assets Flxtures, fittings. tools and equipment Al cost C08t or valuation Al 1 May 2023 AI 30 April 2024 2.958 2,958 Dgprèciation Al 1 May 2023 Charge for the year AI 30 April 2024 1,121 277 1,398 Carrying amount AI 30 April 2024 1,560 AI 30 April 2023 1.837 Cash and cash equivalents 2024 2023 19,736 60,546 10 Creditor8: amounts falling due within onè year 2024 2023 Other taxes and social security costs Other creditors 1,166 2,840 4,006 5.704 1.513 7,217 11 Funds Balance al 1 May 2023 Incoming resources Resources expended Balance at 30 April 2024 Unrestricted funds General 55,166 199,999 55,166 162,123 17,290 Balance al 1 May 2023 Incoming resources Resources expended Balance al 30 April 2024 Unreslricled fvnds General 44,033 225,502 214,369 55,166 The Project for Modern Democracy Notes to the Financial Statements for the year ended 30 April 2024 12 Analysis of net assets between funds 2024 2023 Current assets Current liabilities Totsl nel assets 19,736 {4,0061 15.730 60,546 17.217) 53,329 13 Presentstion currency The financial slalements are presentsd in Sterling. The Project for Modern Democracy Detailed Statement of Financial Activities for the year ended 30 April 2024 2024 2023 Income and Endowments from: Donations and legacies Grants received Total income 162,123 225,502 162,123 225,502 Expenditure on: Charitable activities Raising funds {191,99t) (8,008) (204,928) (9.4431 Total expenditure 1199,9991 (214,369} Net expenditure 37,876 11,133 Net movement in funds 137,876) 11,133 Reconciliation of funds Total funds brought forward 55,166 44,033 Total funds carried forward 17,290 55,166 10 The Project for Modern Democracy Detsiled Statement of Financial Activities for the year ended 30 April 2024 2024 2023 Donations and legacies Donations 162,123 225,502 Charitable activies Charitable activities - (general) Charitable activities - (research} Charitable activities - (travell Charitable activities - (research salaries} 7,773 151,051 3,577 29,590 191,991 8,218 165,725 1,393 29,590 204,926 Raising funds Accountancy fees Bank charges Advertising and PR So￿are 1,454 110 588 5,856 8,008 2,304 186 1,324 5,629 9,443 8,008 9,443