**REGISTERED COMPANY NUMBER: 09568658 (England and Wales) REGISTERED CHARITY NUMBER: 1164761** Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2023 for IPSOS Foundation SKS Audit LLP 3 Sheen Road Richmond Upon Thames TW9 1AD IPSOS Foundation Contents of the Financial Statements for the Year Ended 30 June 2023 |||Page|| |---|---|---|---| |Reference and Administrative Details||1|| |Report of the Trustees|2|to|3| |Independent Examiner's Report||4|| |Statement of Financial Activities||5|| |Balance Sheet|6|to|7| |Notes to the Financial Statements|8|to|13| |Detailed Statement of Financial Activities||14|| IPSOS Foundation Reference and Administrative Details for the Year Ended 30 June 2023 ## **TRUSTEES** **TRUSTEES** Mrs G Aitchison Mr J Haworth (resigned 27/3/2023) Mr B Gosschalk Mrs S Walker Mr G Moore (appointed 27/3/2023) **COMPANY SECRETARY** Mr R Van Hullen **REGISTERED OFFICE** 3 Thomas More Square London E1W 1YW **REGISTERED COMPANY** 09568658 (England and Wales) **NUMBER** ## **REGISTERED CHARITY NUMBER** 1164761 **INDEPENDENT EXAMINER** SKS Audit LLP 3 Sheen Road Richmond Upon Thames TW9 1AD **BANKERS** BARCLAYS 1 Churchill palace London E145HP **INDEPENDENT EXAMINER** Caroline Brazier Page 1 IPSOS Foundation Report of the Trustees for the Year Ended 30 June 2023 The Trustees present their report and financial statements for the year ended 30 June 2022. The Foundation was incorporated on 30 April 2015 and was registered as a charity on 8 December 2015. The charity and company numbers can be found on the legal and administrative page, along with the principal address of the Foundation. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** The purpose of the Ipsos Foundation is to help disadvantaged children and youth with education, anywhere that Ipsos operates (currently Ipsos operates in 90 countries). To do this, applications are made to the Ipsos Foundation by charities working together with an Ipsos employee to ensure accuracy in both completing and complying with the Ipsos Foundation Application Guide (IFAG). The Trustee board meet periodically during the year, depending on the number of applications received. All applications are considered and, depending upon the merits of the application, decisions are made to either approve /reject or request more information at each meeting. A summary of the performance of applications this year is: Nine approved Two rejected One deferred £187,440 has been awarded to the successful charities and a further £44,201 has been committed by Ipsos and approved by the Trustees in the period. The charities have benefitted many different disadvantaged children in countries as diverse as Brazil, Colombia, Costa Rica, Germany, India, Italy, Jordan, Lebanon, Morocco, Nepal, Philippines, Poland, Pakistan, Spain, South Africa, and the UK. In each case where a charity receives an award, the relevant Ipsos employee, who submitted the application, will monitor and review the use of the money and report back to the trustees on the progress and benefit that have been provided. This will occur within twelve months of the award. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. ## **FINANCIAL REVIEW** ## **Financial position** The Charity does not have any formal reserves policy as funds will be provided by Ipsos as and when required. As at 30 June 2023, the charitable company had reserves of £39,042. The financial statements have been prepared on a going concern basis due to the ongoing financial support from Ipsos MORI UK Ltd. The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. The main risk to the charity is ensuring that money donated is spent in accordance with the application. This is mitigated by receiving regular reports stating on what the donation has been spent. Page 2 IPSOS Foundation ## Report of the Trustees ## for the Year Ended 30 June 2023 ## **FINANCIAL REVIEW Plans for the future** The Trustee board is committed to the vision of helping disadvantaged children and youth with education. The desire of the trustees is to see wider geographical application, more charities and children benefitting and to create more opportunities for Ipsos employee engagement and volunteering. The Trustees are still considering allowing employees to help fund the work of the Ipsos Foundation and are actively engaged in plans to increase the communication of the work of the Ipsos Foundation both internally within Ipsos and externally. As part of this communication, we are now widely reporting, within Ipsos, on the charities we have supported and the benefits it has brought. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** The Ipsos Foundation is a registered charity number 1164761. The Ipsos Foundation was, and is, established by funding from Ipsos Mori UK Limited, a subsidiary of Ipsos SA which is a publicly quoted French based Market Research group of companies. The Ipsos Foundation does not actively fundraise. At the, roughly, quarterly meetings trustees agree the areas of activity they wish to support. All Trustees give of their time freely and no trustee remuneration is paid. The following trustees, who are also the directors for the purpose of the company law, have held office during the year and up to the date of signing of this report, unless stated otherwise: Mr B Gosschalk Mrs G Aitchison Mr J Haworth (resigned 27 March 2023) Mrs S Walker Mr G Moore (appointed 27 March 2023) There are no formal methods of recruitment and appointment of Trustees, however, the number of trustees employed by the Ipsos group of companies is not supposed to constitute a majority of the trustees. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. New trustees are encouraged to review this as part of the induction process. Approved by order of the board of trustees on 26 February 2024 and signed on its behalf by: Mr G Moore - Trustee Page 3 Independent Examiner's Report to the Trustees of IPSOS Foundation ## **Independent examiner's report to the trustees of IPSOS Foundation ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2023. ## **Responsibilities and basis of report** As the charity's trustees of the Company (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 Company 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** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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 Company 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. Caroline Brazier SKS Audit LLP 3 Sheen Road Richmond Upon Thames TW9 1AD 1 March 2024 Page 4 IPSOS Foundation ## Statement of Financial Activities ## (Incorporating an Income and Expenditure Account) for the Year Ended 30 June 2023 |2023
Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3
258,895
**EXPENDITURE ON**
**Charitable activities**
4
Charitable Activity
214,359
Support Activity
2,463
**Total**
216,822
**NET INCOME**
42,073
**RECONCILIATION OF FUNDS**
Total funds brought forward
(3,030)
**TOTAL FUNDS CARRIED FORWARD**
39,043|2022
Total
funds
£
381,572
376,110
2,965
379,075
2,497
(5,527)
(3,030)| |---|---| ## **CONTINUING OPERATIONS** All income and expenditure derive from continuing activities and relate to unrestricted funds. The notes form part of these financial statements Page 5 IPSOS Foundation ## Balance Sheet ## 30 June 2023 |2023
Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors: amounts falling due within one year
8
44,201
Cash at bank
45,037
89,238
**CREDITORS**
Amounts falling due within one year
9
(50,195)
**NET CURRENT ASSETS/(LIABILITIES)**
39,043
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
39,043
**NET ASSETS/(LIABILITIES)**
39,043
**FUNDS**
10
Unrestricted funds:
General fund
39,043
**TOTAL FUNDS**
39,043|2022
Total
funds
£
135,572
2,670
138,242
(141,272)
(3,030)
(3,030)
(3,030)
(3,030)
(3,030)| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023. The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements Page 6 continued... IPSOS Foundation Balance Sheet - continued 30 June 2023 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 26 February 2024 and were signed on its behalf by: Mr G Moore - Trustee The notes form part of these financial statements Page 7 IPSOS Foundation Notes to the Financial Statements for the Year Ended 30 June 2023 ## **1. COMPANY INFORMATION** Ipsos Foundation is a charitable company limited by guarantee incorporated in England and Wales. The registered office is given on the legal and administrative information page. ## **2. ACCOUNTING POLICIES** ## **BASIS OF PREPARING THE FINANCIAL STATEMENTS** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £. The financial statements have been prepared on the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **INCOME** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is more likely than not that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## **EXPENDITURE** Expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **TAXATION** The charity is exempt from corporation tax on its charitable activities. ## **GOING CONCERN** At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and they will receive continued financial support provided by Ipsos MORI UK Limited. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **CASH AND CASH EQUIVALENTS** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. continued... Page 8 IPSOS Foundation Notes to the Financial Statements - continued for the Year Ended 30 June 2023 ## **2. ACCOUNTING POLICIES - continued** ## **FOREIGN EXCHANGE** Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/(expenditure) for the period. ## **FUND ACCOUNTING** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **3. DONATIONS AND LEGACIES** |**DONATIONS AND LEGACIES**||| |---|---|---| ||2023|2022| ||£|£| |Donations|258,895|381,572| Accrued income of donation recorded for Needs Map: £44,201. Brummana High School donation was paid by Parent company therefore Accural of £17,252 has been reversed. ## **4. CHARITABLE ACTIVITIES COSTS** |Charitable Activity
Support Activity|Grant
funding of
activities
(see note
5)
£
214,359
-
214,359|Support
costs (see
note 6)
£
-
2,463
2,463|Totals
£
214,359
2,463| |---|---|---|---| ||||216,822| continued... Page 9 IPSOS Foundation ## Notes to the Financial Statements - continued for the Year Ended 30 June 2023 |**5.**
**GRANTS PAYABLE**
Charitable Activity
The total grants paid to institutions during the year was as follows:
SOS Childrens
Cidadao Pro Mund
Organizacao Nao
Amigos do Joao
Ipsos Brasil
Teach a child
Timbuktu in the Valley
ANAK-Tnk
Talent-Ed Education
Mateen Rehibitions and Training
Dehvi Foundation
Fundacion Ninos
National Literac
Edukid
Sebar Sedekah In
Fugee School
Prochorus
Abriendo Camino
Julius Youth Gro
Needsmap/Turkey|2023
£
214,359
2023
£
-
-
-
-
-
-
-
-
-
-
-
21,973
36,355
21,599
28,736
21,556
20,483
14,011
22,697
44,201
231,611|2022
£
376,110| |---|---|---| |||2022
£
16,569
13,774
21,006
21,436
3,149
11,480
33,713
40,017
28,630
21,108
29,656
-
-
-
-
-
-
-
-
-| |||240,538| Accrued Grant Payable recorded for Needs Map: £44,201. Brummana High School grant was paid by Parent company therefore Accural of £17,252 has been reversed. ## **6. SUPPORT COSTS** |**SUPPORT COSTS**||||| |---|---|---|---|---| ||||Governance|| ||Finance|Other|costs|Totals| ||£|£|£|£| |Support Activity|222|(843)|3,084|2,463| continued... Page 10 IPSOS Foundation ## Notes to the Financial Statements - continued for the Year Ended 30 June 2023 ## **6. SUPPORT COSTS - continued** Support costs, included in the above, are as follows: |Support costs, included in the above, are as follows:||| |---|---|---| ||2023|2022| ||Support|Total| ||Activity|activities| ||£|£| |Bank charges|222|162| |UF Foreign exchange Losses|(843)|-| |Independent Examiner's Fees|3,084|2,803| ||2,463|2,965| ## **7. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 30 June 2023 nor for the year ended 30 June 2022. ## **TRUSTEES' EXPENSES** There were no trustees' expenses paid for the year ended 30 June 2023 nor for the year ended 30 June 2022. ## **8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Prepayments and accrued income
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
Accruals and deferred income|2023
£
44,201
2023
£
2,910
47,285
50,195|2022
£
135,572| |---|---|---| |||2022
£
-
141,272| |||141,272| Within accruals is grants payable totalling £44,201 (2022: £135,572). continued... Page 11 IPSOS Foundation ## Notes to the Financial Statements - continued ## for the Year Ended 30 June 2023 ## **10. MOVEMENT IN FUNDS** |At 1.7.22
£
**Unrestricted funds**
General fund
(3,030)
**TOTAL FUNDS**
(3,030)
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
258,895
**TOTAL FUNDS**
258,895
**Comparatives for movement in funds**
At 1.7.21
£
**Unrestricted funds**
General fund
(5,527)
**TOTAL FUNDS**
(5,527)
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
381,572
**TOTAL FUNDS**
381,572|Net
movement
At
in funds
30.6.23
£
£
42,073
39,043
42,073
39,043
Resources
Movement
expended
in funds
£
£
(216,822)
42,073
(216,822)
42,073
Net
movement
At
in funds
30.6.22
£
£
2,497
(3,030)
2,497
(3,030)
Resources
Movement
expended
in funds
£
£
(379,075)
2,497
(379,075)
2,497| |---|---| continued... Page 12 IPSOS Foundation Notes to the Financial Statements - continued for the Year Ended 30 June 2023 ## **11. RELATED PARTY DISCLOSURES** During the year donations totalling £342,945 (2022: £246,000) were received from Ipsos MORI UK Ltd, a company in which Mr John Roger Haworth was a director and now Mr Gary Moore is a director. In addition, accrued income includes £44,201 (2022: £135,572) which related to the year ended 30 June 2023. Ipsos MORI UK Ltd provide support as and when required at no cost to Ipsos Foundation. The only key management are the Trustees, none of whom was paid a remuneration or reimbursed any expenses. Page 13 IPSOS Foundation |**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Grants to institutions
**Support costs**
**Finance**
Bank charges
**Other**
UF Foreign exchange Losses
**Governance costs**
Independent Examiner's Fees
Total resources expended
**Net income**|Detailed Statement of Financial Activities
for the Year Ended 30 June 2023|2023
£
258,895
258,895
214,359
222
(843)
3,084
216,822
42,073|2022
£
381,572| |---|---|---|---| ||||| ||||381,572
376,110
162
-
2,803| ||||379,075| ||||2,497| This page does not form part of the statutory financial statements Page 14