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 2024
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 2024
| 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 | Reference and Administrative Details |
|---|---|
| for the Year Ended 30 June 2024 | |
| TRUSTEES | Mrs G Aitchison |
| Mr B Gosschalk | |
| Mrs S Walker | |
| Mr G Moore | |
| COMPANY SECRETARY | Mr R Van Hullen |
| REGISTERED OFFICE | 3 Thomas More Square |
| London | |
| E1W 1YW | |
| REGISTERED COMPANY | 09568658 (England and Wales) |
| NUMBER | |
| REGISTERED CHARITY | 1164761 |
| NUMBER | |
| INDEPENDENT EXAMINER | SKS Audit LLP |
| 3 Sheen Road | |
| Richmond Upon Thames | |
| TW9 1AD | |
| BANKERS | BARCLAYS |
| 1 Churchill palace | |
| London | |
| E145HP | |
| INDEPENDENT EXAMINER | Caroline Brazier ACA DCHA |
Page 1
IPSOS Foundation
Report of the Trustees for the Year Ended 30 June 2024
The Trustees present their report and financial statements for the year ended 30 June 2024. 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:
Sixteen approved
Five rejected
£277,963 has been awarded to the successful charities and a further £145,555 has been committed by Ipsos and approved by the Trustees in the period. The charities have benefitted many different disadvantaged children in various countries in Asia, Africa, Europe and South America. 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 2024, the charitable company had negative reserves of £1,610. 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 2024
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 Mrs S Walker Mr G Moore
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 6 March 2025 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 2024.
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:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
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
-
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 ACA DCHA
SKS Audit LLP 3 Sheen Road Richmond Upon Thames TW9 1AD
Date: 6 March 2025
Page 4
IPSOS Foundation
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 30 June 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 3 345,478 EXPENDITURE ON Charitable activities 4 Charitable Activity 383,314 Support Activity 2,817 Total 386,131 NET INCOME (40,653) RECONCILIATION OF FUNDS Total funds brought forward 39,043 TOTAL FUNDS CARRIED FORWARD (1,610) |
2023 Total funds £ 258,895 214,359 2,463 216,822 42,073 (3,030) 39,043 |
|---|---|
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 2024
| 2024 Unrestricted fund Notes £ CURRENT ASSETS Debtors: amounts falling due within one year 8 145,555 Cash at bank 1,720 147,275 CREDITORS Amounts falling due within one year 9 (148,885) NET CURRENT ASSETS/(LIABILITIES) (1,610) TOTAL ASSETS LESS CURRENT LIABILITIES (1,610) NET ASSETS/(LIABILITIES) (1,610) FUNDS 10 Unrestricted funds: General fund (1,610) TOTAL FUNDS (1,610) |
2023 Total funds £ 44,201 45,037 89,238 (50,195) 39,043 39,043 39,043 39,043 39,043 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 2024
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 6 March 2025 and were signed on its behalf by:
Mr G Moore - Trustee
The notes form part of these financial statements
Page 7
IPSOS Foundation
Cash Flow Statement 30 June 2024
| Cash flow from operating activities Net movement in funds Add back depreciation Decrease / (increase) in debtors Increase in creditors Net Cash flow generated from Operating Activities Cash flows from investing activities Purchase of tangible fixed assets Cash used in investing activities Cash flows from financing activities Cash used in financing activities Increase in cash & cash equivalents in the year Cash & cash equivalents at the beginning of the year Total cash & cash equivalents at the end of the year |
2024 2023 £ £ (40,653) 42,072 - - (101,353) 91,372 98,690 (91,077) |
|---|---|
| (43,316) 42,367 |
|
| - - |
|
| - - |
|
| - - |
|
| - - |
|
| (43,316) 42,367 |
|
| 45,036 2,670 |
|
| 1,720 45,037 |
The notes form part of these financial statements
Page 7
IPSOS Foundation
Notes to the Financial Statements for the Year Ended 30 June 2024
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 2024
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 | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Donations | 345,478 | 258,895 |
Accrued income of donation recorded for Map: £44,201 has been reversed.
4. CHARITABLE ACTIVITIES COSTS
| Charitable Activity Support Activity |
Grant funding of activities (see note 5) £ 383,314 - 383,314 |
Support costs (see note 6) £ - 2,817 2,817 |
Totals £ 383,314 2,817 |
|---|---|---|---|
| 386,131 |
continued...
Page 9
IPSOS Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
5. GRANTS PAYABLE
| Charitable Activity The total grants paid to institutions during the year was as follows: Fundacion Ninos National Literac Edukid Sebar Sedekah In Fugee School Prochorus Abriendo Camino Julius Youth Gro Needsmap/Turkey Norwegian Refuge Enfants Du Monde Gem HIV/AIDS Fundacion Unidos Foundation To ED Fundacion La Fue Esperanza 6. SUPPORT COSTS Finance £ Support Activity 183 |
2024 £ 383,314 2024 £ - - - - - - - 22,502 43,505 43,384 36,806 34,728 32,588 24,431 26,539 16,779 281,262 Governance Other costs £ £ (696) 3,330 |
2023 £ 214,359 2023 £ 21,973 36,355 21,599 28,736 21,556 20,483 14,011 22,697 44,201 - - - - - - - 231,611 Totals £ 2,817 |
|---|---|---|
continued...
Page 10
IPSOS Foundation
Notes to the Financial Statements - continued
for the Year Ended 30 June 2024
6. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Support costs, included in the above, are as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| Support | Total | |
| Activity | activities | |
| £ | £ | |
| Bank charges | 183 | 222 |
| UF Foreign exchange Losses | (696) | (843) |
| Independent Examiner's Fees | 3,330 | 3,084 |
| 2,817 | 2,463 |
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.
TRUSTEES' EXPENSES
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
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 |
2024 £ 145,555 2024 £ - 148,885 148,885 |
2023 £ 44,201 2023 £ 2,910 47,285 50,195 |
|---|---|---|
Within accruals is grants payable totalling £145,556 (2023: £44,201).
continued...
Page 11
IPSOS Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
10. MOVEMENT IN FUNDS
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.7.23 £ 39,043 39,043 Incoming resources £ 345,478 345,478 |
Net movement At in funds 30.6.24 £ £ (40,652) (1,610) (40,652) (1,610) Resources Movement expended in funds £ £ (386,130) (40,652) (386,130) (40,652) |
|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
At 1.7.22 £ (3,030) (3,030) Incoming resources £ 258,895 258,895 |
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 |
|---|---|---|
continued...
Page 12
IPSOS Foundation
Notes to the Financial Statements - continued for the Year Ended 30 June 2024
11. RELATED PARTY DISCLOSURES
During the year donations totalling £232,924 (2023: £342,945) 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 £Nil (2023: £44,201) which related to the year ended 30 June 2024.
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 2024 |
2024 £ 345,478 345,478 383,314 183 (696) 3,330 386,131 (40,653) |
2023 £ 258,895 258,895 214,359 222 (843) 3,084 216,822 42,073 |
|---|---|---|---|
This page does not form part of the statutory financial statements
Page 14