OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← The Jo Cox Foundation

2024-12-31-accounts

THE JO COX FOUNDATION TRUSTEES. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 SE ol LORDS VS HOUSE￿ If*ffto. ¥ 2016

CONTENTS

INTRODUCTION FROM THE INTERIM CHAIR...................................................................................................3 ABOUT THE JO COX FOUNDATION....................................................................................................................4 STRONGER COMMUNITIES......................................................................................................................................5 RESPECTFUL POLITICS................................................................................................................................................9 PRIORITIES FOR 2025................................................................................................................................................. 11 SUPPORTERS..................................................................................................................................................................12 FINANCIAL REVIEW.....................................................................................................................................................14 STRUCTURE, GOVERNANCE AND MANAGEMENT.....................................................................................15 REFERENCE AND ADMINISTRATIVE DETAILS.................................................................................................19 STATEMENT OF TRUSTEES’ AND DIRECTORS’ RESPONSIBILITIES.....................................................20 REPORT OF THE INDEPENDENT EXAMINER................................................................................................... 22 STATEMENT OF FINANCIAL ACTIVITIES..........................................................................................................24 BALANCE SHEET..........................................................................................................................................................25 STATEMENT OF CASH FLOWS.............................................................................................................................27 NOTES TO THE FINANCIAL STATEMENTS......................................................................................................28

2

INTRODUCTION FROM THE INTERIM CHAIR

ROSAMUND BLOMFIELD-SMITH

2024 was a significant year for the Foundation. This was especially true for our Respectful Politics work. In January 2024 we published No Place in politics: tackling abuse and intimidation .

This report from The Jo Cox Civility Commission explores the issue of abuse and intimidation of elected representatives here in the UK, which we are clear presents a real threat to our democracy.

The report and our 28 recommendations for addressing this growing issue were launched at an event in Parliament, and we were pleased to receive cross-party support, including from four former Prime Ministers. But the work does not end here, and raising awareness, and pushing for the recommendations to be adopted have been central to our work in 2024.

We are also pleased to have delivered so much work in our Stronger Communities strand, as always guided by Jo’s words that “we have more in common than that which divides us”. We again delivered the Great Get Together, we’ve welcomed new partnerships and groups to our More in Common Network, and we’ve begun an exciting new project in West Yorkshire to listen to communities in Batley, Dewsbury and Heckmondwike and develop a shared community vision for the area.

Despite these successes, it was also a challenging year and a time of change for the Foundation. We said goodbye to Jacqui Smith, who chaired the Foundation with great distinction for five years.

We also said goodbye to a number of excellent staff members, as we worked to ensure that the Foundation remains financially stable in a challenging fundraising environment. I’d like to especially thank our former Chief Executive, Su Moore, for all that she did to further Jo’s legacy in her time leading the Foundation.

I’d like to say a particular thank you to our funders and partners - without you none of our work would be possible. Thank you also to the dedicated staff of the Foundation who carry out its work with unfailing commitment and passion.

3

ABOUT THE JO COX FOUNDATION

Jo Cox was a passionate campaigner, activist and humanitarian; a proud Yorkshire lass and internationalist; and a devoted mum, daughter, sister, wife, friend and MP.

The Jo Cox Foundation makes meaningful change on issues that Jo was passionate about. Like Jo, we believe that a kinder, fairer and more connected world is possible. Underpinning this belief is the understanding that we have more in common than that which divides us. As we work to make change, we follow Jo’s example of collaborating with others and bringing people together to achieve more than we can alone.

We work in three areas. We nurture stronger communities, champion civility in politics and advocate for a fairer world.

We focus on making change led by the values by which Jo lived her life and are guided by the following principles:

Ambitious

This means: We believe, like Jo, that there should be no ‘too difficult to deal with’ pile

Collaborative

This means: We believe that achieving real change requires us all to pool our strengths and exchange our skills and resources

Empathetic

This means: We believe that kindness and compassion are signs of strength, and that it is only by understanding others that we can build relationships and bridge divides

4

STRONGER COMMUNITIES

We want less lonely, better connected communities across the UK, where everyone feels that they belong.

During 2024 our Stronger Communities work spanned:

The following is a summary of our achievements over the last 12 months.

THE GREAT GET TOGETHER

In June, the Great Get Together once again demonstrated the desire of communities around the UK to come together to celebrate what unites us, and reject division. This year was particularly meaningful as the Great Get Together took place on Jo’s 50th birthday.

5

626 events took place, with an estimated 97,600 attendees, bringing together thousands of people that had never met before. People described how ‘neighbours met up and got to know each other better’, making new friends and feeling inspired to stay more connected with each other.

We also saw a huge increase in volunteering, with local projects reporting a 40% increase in volunteers after they had held a Great Get Together event.

THE MORE IN COMMON NETWORK

The More in Common Network has continued to grow during 2024.

Thanks to funding from the National Lottery Community Fund, we have continued to support our More in Common partnerships, which bring together organisations to carry out work to support social cohesion in their area.

Our two established partnerships - in Cardiff and Nottingham - have continued to go from strength to strength, and we’ve begun establishing two new partnerships in Greater Manchester and Staffordshire.

Alongside this our More in Common groups, which are made up of individuals who carry out activity in their local area to bring Jo’s ‘more in common’ message to life, have also flourished. The total number of groups has increased from 10 to 14, with new groups in Manchester, the East End, Leighton Buzzard and Nottingham.

Throughout the year, we’ve supported the Network through one-to-one support, resources and a programme of events.

It has helped me feel like part of something else and not trying to achieve things on our own. It has been beneficial to smaller organisations as well. WeIt haswe r estartede aware connectionsof each other, thatbut hadnow dried up.better understand each other’s needs and this has built trust.

6

WORK IN WEST YORKSHIRE

During 2024 the focus of our work in Jo’s home and former constituency in West Yorkshire has focussed on an exciting new project: Bridging and Belonging.

Beginning in May 2024, through this project we will organise a series of listening events in Heckmondwike, Batley and Dewsbury. These will provide a space where local people from all parts of the community can share their hopes for how the community can develop.

By carrying out this listening exercise, we will lead the process of co-creating a shared community vision for the three towns by the end of 2025. We will then intend to seek further funding in order to support community members to develop and lead their own social action projects that will contribute to achieving this vision.

During the second half of 2024 we have worked to set up the project, including establishing a community group who will inform the project’s direction, lead the listening events and analyse what we hear to produce the shared vision.

Alongside our work on the Bridging & Belonging project, we supported community organisations across the region to connect and collaborate through three community lunches that we hosted - one each in Batley, Dewsbury and Leeds.

By using the Great Get Together as an engagement hook, these events brought together 157 people from community organisations as an opportunity to connect, learn what we have in common, and work together to overcome our shared challenges.

----- Start of picture text -----
ee |
sii =)
----- End of picture text -----

were passionate about making a difference. 7

THE CONNECTION COALITION AND LONELINESS ADVOCACY

Founded at the start of the pandemic, the Connection Coalition remained a vital part of the loneliness sector through the Covid pandemic and the cost of living crisis. Through this time we maintained a membership of almost 1000 members, with feedback from some members that taking part has been life-changing for them.

Having decided that, after four years of crisis response, it was time to end the Coalition, we focused on closing it, and formally concluded its work in June 2024. This is, however, not the end of our work to support the loneliness sector and advocate for action on loneliness. During 2024 we have sustained our excellent relationships with the Minister for Loneliness and key civil servants, and made the most of them to inform debates and discussions on the response to loneliness.

The strength of this relationship, and the resulting ability to effect positive action, was shown in our work in the first half of the year to highlight the ongoing financial challenges facing the loneliness sector and the risk to many organisations sustainability. This led directly to the government at the time hosting a funders roundtable to seek to unlock further funding to address loneliness.

Following the 2024 general election, we have focussed on establishing our relationship with the new Minister for Loneliness. We are also pleased to have secured new funding to establish a Loneliness Policy Action Group for the voluntary sector, which will be the focus of our work on this issue in 2025.

----- Start of picture text -----
8
----- End of picture text -----

RESPECTFUL POLITICS

We want anyone, regardless of their background, to feel able to participate in our political discourse and be treated with respect. In particular, we seek to end the abuse and intimidation that discourages so many from entering political life, and especially impacts diverse representation.

2024 was another important year for our Respectful Politics work. In January 2024 we launched the report of The Jo Cox Civility Commission: No place in politics: tackling abuse and intimidation .

This pivotal report examined the issue of abuse and intimidation of elected representatives, and also our call to action, with 28 cross-sector recommendations for how we can address this growing threat to our democracy.

Our subsequent work has focussed on advocating for their adoption in order to drive short- and long-term change on this issue. We are pleased that a number of key recommendations have been implemented during 2024, including:

----- Start of picture text -----
‘ . ce) / fl
1 goN Ll 7
Wika ; 7
ae bal |
. Q\)ie
la A Ys —
----- End of picture text -----

9

As we move into 2025 we will continue to advocate for the remaining recommendations of the Civility Commission to be adopted. Next year our work in this area will particularly focus on supporting the family and staff of elected representatives, advocating for political parties to take further action, and developing specific recommendations for devolved parliaments.

2024 also saw a number of elections, including local council elections, mayoral elections and the general election in July 2024. In partnership with Compassion in Politics, we were again pleased to run our civility pledge campaign, encouraging candidates to commit to carrying out a civil campaign.

We were also pleased to join with the Electoral Commission, the City of London Police and the Committee on Standards in Public Life to call for a general election campaign free from candidate abuse.

10

PRIORITIES FOR 2025

In 2025 we continue to make positive change on issues that Jo was passionate about. We are placing particular focus on:

11

SUPPORTERS

We would like to thank everyone who supported our work in 2024, particularly our dedicated and hard-working staff team. Without them, we couldn’t achieve any of our work on issues that Jo was passionate about.

FUNDERS AND PARTNERS

Charitable trusts and foundations

Corporates and other organisations

Government and public sector

12

Community events

Our thanks to everyone who participated in our two main community events in 2024: the Jo Cox Way and the Royal Parks Half Marathon. We’d also like to thank all of those who undertook to use their Great Get Together as a way to fundraise for us, and all of those who undertook their own fundraising for the Foundation.

Individual donors

We continue to receive support from many individuals, including those who choose to make regular donations to us as Friends of the Jo Cox Foundation. We would like to thank all of those who donated to us in 2024.

13

FINANCIAL REVIEW

Funds raised

Total income for the year was £534,915 (2023: £684,727); of which unrestricted income was £173,061 (2023: £229,496) and restricted income was £361,854 (2023: £455,231).

Expenditure

Total expenditure was £590,744, (2023: £648,914); of which unrestricted expenditure was £244,889 (2023: £177,169) and restricted expenditure was £345,855 (2023: £471,745).

Surplus/deficit

This resulted in a deficit for the year of £55,829 (2023: surplus of £35,813).

RESERVES POLICY

JCF's reserves policy has been devised by analysing the charitable company's main financial obligations now, and in the future, the cost of reshaping the charitable company and the scale of risk to voluntary income to calculate a target sum of unrestricted funds to be held in reserve. Such a sum should be sufficient to ensure the continued operation of the charitable company in the medium term in the event of a drop in generated income.

The level of free reserves is continually monitored. It is monitored monthly by management as part of their review of the management accounts, and is reported to all meetings of both the Finance, Audit and Risk Committee and the full Board, so that Trustees can monitor and manage reserves effectively.

The target level of free reserves has been set as between three and six months’ expenditure based on the approved budget for the following 12 months.

The target for 31 December 2024 was set at a range of £109,102 to £218,204 in free reserves. At 31 December 2024, JCF held £75,945 in free reserves (2023: £139,868).

14

REVIEW OF CURRENT FINANCIAL POSITION

Like many organisations in the voluntary sector, we have found the current financial environment to be extremely challenging.

In order to reduce the organisation’s operating deficit, the Board of Trustees undertook a restructure of the staff team in the second half of the year, as well as reviewing other areas in which the organisation could reduce its costs.

This has had the intended effect of ensuring the organisation’s financial stability. As a result, we currently expect to increase our free reserves in 2025.

STRUCTURE, GOVERNANCE AND MANAGEMENT

GOVERNING DOCUMENT

The Jo Cox Foundation is a charitable company, limited by guarantee, incorporated on 23 September 2016, and registered as a charity on 19 December 2016.

The company was established under a Memorandum and Articles of Association, which established the objects and powers of the charitable company, as amended by special resolution on 16 January 2018.

GOVERNANCE

The charitable company is governed by its Trustees. The Trustees also act as the members of the charitable company and its corporate Directors for the purposes of the Companies Act 2006. The Articles of Association outline the powers, responsibilities and decision-making processes of the Trustees.

15

RECRUITMENT AND APPOINTMENT OF

TRUSTEES

The process for appointing Trustees to the Board of The Jo Cox Foundation is outlined in the Articles of Association, which specifies that any person who is willing to act as a Trustee and who would not be disqualified from acting may be appointed by a decision of the Trustees.

There is no requirement for how Trustees should be recruited, and this will normally be considered on a case-by-case basis as vacancies arise. It includes a combination of open recruitment and direct approaches to suitable candidates.

TRUSTEE INDUCTION AND TRAINING

Trustees are provided with a clear role description, outlining their statutory and additional responsibilities. New Trustees are provided with a thorough induction, including spending time with the CEO and Head of Ops and Finance. All Trustees are encouraged to take up relevant training and development to fulfil their role and responsibilities to the charitable company.

ORGANISATIONAL STRUCTURE AND DECISION MAKING

The Foundation’s Board of Trustees must have a minimum number of three Trustees. The Board of Trustees appoint a Chair of Trustees and Treasurer from amongst themselves. The Trustees are responsible for the strategic direction of the charitable company and oversight of its work and finances.

The Board of Trustees has a Finance, Audit and Risk Subcommittee. This committee is responsible for providing detailed scrutiny of the Foundation’s finances, associated procedures and monitoring its risk. This committee is governed by Terms of Reference that were approved by the full Board and reports back to the Board after every meeting.

The Trustees delegate day-to-day responsibility for the provision of services to the Chief Executive Officer. The Chief Executive Officer is responsible for ensuring

16

the secure financial management and administration of the charity. Effective management and supervision of the staff team is the responsibility of the Chief Executive Officer.

SUBSIDIARIES

The Foundation has a wholly owned subsidiary, The Jo Cox Foundation Trading Limited (company number 10660951), through which the Foundation channels any trading activities.

REMUNERATION OF KEY PERSONNEL

The key management personnel of the Foundation consists solely of the Chief Executive Officer. Their remuneration is set by the Board of Trustees, taking into account the charitable company's financial position and the amount paid for this role in comparable organisations.

RISK ASSESSMENT

The Foundation regularly undertakes a detailed review and assessment of risks, both financial and non-financial, to which it is exposed in its current activities. These have been developed into a formal Risk Management process.

The Trustees have considered a summary of all major risks and have ensured that effective systems and controls exist to reduce internal risks and respond swiftly to external risks and minimise their impact.

Risks are monitored continually by the management team and reviewed regularly by the Trustees unless there are issues that need the Trustees’ immediate attention.

The principal risk areas identified by the Trustees are:

17

18

REFERENCE AND ADMINISTRATIVE DETAILS

Charitable Company Name: The Jo Cox Foundation Charity Number: 1170836

Company Number: 10392667 (England and Wales)

Registered Office: 2-Work Tileyard North, Cutter Mill, 7 Tileyard North, Wakefield, WF1 5FY

Chief Executive Officer

Su Moore (until 26 September 2024) Will Fletcher (Interim Chief Executive Officer, from 27 September 2024)

Trustees and Directors

The Trustees who served during the year, or until the date that this report and the financial statements were approved, and were also Directors of the company, were as follows:

Amanda Chetwynd-Cowieson Eloise Todd Geethika Jayatilaka Rt Hon Jacqui Smith (resigned 6 July 2024) Jane Brady (appointed 4 November 2024) Jennie Richmond

Nisha Jani Rachel Kinnock (appointed 27 February 2025) Rosamund Blomfield-Smith Samantha Vickers Steve Morris

Bankers

Metro Bank Plc, 1 Southampton Row, London, WC1B 5HA Barclays Bank UK Plc, Leicester, LE87 2BB

Independent Examiner

Kevin Fisher, FCA

Kingston Burrowes Audit Ltd, 308 Ewell Road, Surbiton, Surrey, KT6 7AL

19

STATEMENT OF TRUSTEES’ AND DIRECTORS’

RESPONSIBILITIES

The Trustees, who are also Directors of The Jo Cox Foundation for the purposes of company law, are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The Trustees confirm that they have complied with the duty in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.

Company law requires the Directors to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Directors are required to:

The Directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the

20

prevention and detection of fraud and other irregularities.

The financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. Signed on behalf of the Trustees:

Rosamund Blomfield-Smith, Interim Chair of Trustees Date: 2 September 2025

21

REPORT OF THE INDEPENDENT EXAMINER

Independent Examiner's Report to the Trustees of The Jo Cox Foundation

I report to the charitable company Trustees on my examination of the accounts of the company for the year ended 31 December 2024 which are set out on pages 24 to 45.

Responsibilities and basis of report

As the charitable company’s Trustees (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 company'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 the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I 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 that in any material respect:

  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

22

independent examination; or

  1. 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.

Kevin Fisher, FCA Date: 2 September 2025

For and on behalf of Kingston Burrowes Audit Ltd 308 Ewell Road, Surbiton, Surrey, KT6 7AL

23

STATEMENT OF FINANCIAL ACTIVITIES

(incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted Restricted 2024 2023
Notes Funds Funds Total Total
£ £ £ £
Income
Donations and legacies 2 126,340 - 126,340 201,972
Charitable activities 3 5,500 361,854 367,354 455,231
Other income 4 41,221 - 41,221 27,524
────── ────── ────── ──────
Total 173,061 361,854 534,915 684,727
────── ────── ────── ──────
Expenditure
Raising funds 5 64,166 - 64,166 80,344
Charitable activities 6 180,723 345,855 526,578 568,570
────── ────── ────── ──────
Total 244,889 345,855 590,744 648,914
────── ────── ────── ──────
Net income / (expenditure) for the year (71,828) 15,999 (55,829) 35,813
Transfer between funds 18 - - - -
────── ────── ────── ──────
Net movement in funds (71,828) 15,999 (55,829) 35,813
Total funds brought forward 18 174,105 124,349 298,454 262,641
────── ────── ────── ──────
Total funds carried forward 18 102,277 140,348 242,625 298,454
══════ ══════ ══════ ══════

All income and expenditure derives from continuing activities. The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 28 to 45 form part of the financial statements.

24

BALANCE SHEET

AS AT 31 DECEMBER 2024

2024 2023
Notes £ £ £ £
Fixed Assets
Tangible assets 12 2,058 3,184
Intangible assets 13 24,273 31,052
Investments 14 1 1
────── ──────
26,332 34,237
Current Assets
Debtors 15 10,239 16,883
Cash at bank and in hand 218,178 281,381
────── ──────
228,417 298,264
Liabilities
Creditors: Amounts falling due
within one year 16 12,124 34,047
────── ──────
Net Current Assets 216,293 264,217
────── ──────
Net Assets 17 242,625 298,454
══════ ══════
Funds
Unrestricted 18 102,277 174,105
Restricted 18 140,348 124,349
────── ──────
Total funds 18 242,625 298,454
══════ ══════

25

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the companies Act 2006.

The Directors acknowledge their responsibilities for:

(a) ensuring that the company keeps accounting records which 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 company as at the end of each financial year and of its profit and loss 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 company.

The financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the Trustees on 2 September 2025 and signed on its behalf by:

Rosamund Blomfield-Smith Interim Chair of Trustees

The notes on pages 28 to 45 form part of the financial statements.

26

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
||||| |---|---|---|---| |Notes|2024|2023| |£|£| |Cash flows from operating activities| |Net movement in funds per statement of financial activities|(55,829)|35,813| |Adjustments for:| |Depreciation charges|12|1,525|1,228| |Amortisation charged|13|6,779|2,842| |(Increase) / decrease in debtors|6,644|12,296| |(Decrease) / increase in creditors|(21,923)|15,120| |──────|──────| |Net cash provided by / (used in) operating activities|(62,804)|67,299| |──────|──────| |Cash flows from investing activities| |Purchase of tangible fixed assets|12|(399)|(1,224)| |Purchase of intangible fixed assets|13|- (33,895)| |──────|──────| |Net cash provided by / (used in) investing activities|(399)|(35,119)| |──────|──────| |Change in cash and cash equivalents in the reporting period|(63,203)|32,180| |Cash and cash equivalents at the beginning of the reporting period|281,381|249,201| |──────|──────| |Cash and cash equivalents at the end of the reporting period|218,178|281,381| |══════|══════|

----- End of picture text -----

The notes on pages 28 to 45 form part of the financial statements.

27

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparation and assessment of going concern

The charitable company constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charitable company.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

The Trustees consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern.

Income recognition

Items of income are recognised in the financial statements when all of the following criteria are met:

28

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

1. ACCOUNTING POLICIES (cont'd)

Expenditure recognition

Expenditure is recognised once there is a legal or constructive obligation to make payment to a third party, it is probable that settlement will be required and the amount can be measured reliably.

Expenditure includes those costs of a direct nature which can be allocated to a specific activity. It also includes indirect costs, including governance costs that do not relate to a specific activity but are necessary to support those activities. Support costs are apportioned to each activity on the basis of staff time or on a basis which is designed to reflect the use of the resources.

Fund accounting

Unrestricted general funds are freely available for use in furtherance of the objects of the charitable company and which have not been designated for particular purposes.

Designated funds are unrestricted funds set aside by the trustees for particular purposes.

Restricted funds are funds which can only be used in accordance with specific restrictions imposed by the donor or which have been raised for a particular purpose.

Tangible fixed assets

All expenditure on capital items costing less than £100 is written off in the year of purchase.

Depreciation is provided so as to write off the cost of each asset over its estimated useful life at the following annual rate:

Computer equipment 33% on straight line basis

29

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

1. ACCOUNTING POLICIES (cont'd)

Intangible fixed assets

All expenditure on capital items costing less than £1,000 is written off in the year of purchase.

Amortisation is provided so as to write off the cost of each asset over its estimated useful life at the following annual rate:

Website and database 20% on straight line basis

Investments in subsidiaries

Investments in group companies are stated at cost less any identified impairment. An impairment review is undertaken annually by the trustees.

Leases

Operating lease rentals are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pensions

The charitable company operates a defined contribution pension scheme. Contributions payable under the scheme are charged to the Statement of Financial Activities in the year to which they relate.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Financial Activities.

30

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

2. DONATIONS AND LEGACIES

----- Start of picture text -----
||||| |---|---|---|---| |Unrestricted|Total|Total| |funds|2024|2023| |£|£|£| |Donations| |121,340|121,340|123,236| |Legacies|5,000|5,000|78,736| |──────|────────────| |126,340|126,340|201,972| |══════|════════════| |All of the £201,972 recognised in 2023 related to unrestricted funds.|

----- End of picture text -----

3. INCOME FROM CHARITABLE ACTIVITIES

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted Restricted|Total|Total| |funds|funds|2024|2023| |£|£|£|£| |Stronger Communities:| |Yorkshire Programme|-|83,680|83,680|40,840| |More in Common Programme|-|173,071|173,071|154,533| |Great Get Together|-|-|-|83,577| |Connection Coalition|-|-|-|89,650| |Loneliness Policy Group|-|76,245|76,245| |Respectful Politics|5,000|28,858|33,858|24,202| |Core charitable activities|500|-|500|62,429| |──────|──────|──────|──────| |Grants and other income| |5,500|361,854|367,354|455,231| |══════|══════|══════|══════|

----- End of picture text -----

All of the £455,231 recognised in 2023 related to restricted funds.

31

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

4. OTHER INCOME

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |funds|funds|2024|2023| |£|£|£|£| |Jo Cox Way kit and subsistence|1,848|-|1,848|3,091| |Jo Cox Way entry fees|38,993|-|38,993|18,497| |Other income|380|-|380|5,936| |──────|──────|──────|──────| |41,221|-|41,221|27,524| |══════|══════|══════|══════|

----- End of picture text -----

All of the £27,524 recognised in 2023 related to unrestricted funds.

5. COST OF RAISING FUNDS

----- Start of picture text -----
|||||| |---|---|---|---|---| |Direct|Support|Total|Total| |costs|costs|2024|2023| |£|£|£|£| |Fundraising events and materials|36,961|-|36,961|33,882| |Staff costs|14,836|10,548|25,384|45,932| |Recruitment and training|199|-|199|114| |IT costs|-|797|797|382| |Stationery and postage|-|106|106|34| |Membership and subscriptions|-|710|710|-| |Travel and subsistence - staff|9|-|9|-| |──────|─────|──────|──────| |52,005|12,161|64,166|80,344| |══════|═════|══════|══════|

----- End of picture text -----

All of the £80,344 expenditure recognised in 2023 was charged to unrestricted funds.

32

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

6. EXPENDITURE ON CHARITABLE ACTIVITIES

Direct Support Total Total
costs costs 2024 2023
£ £ £ £
(note 7) (note 8)
Stronger Communities:
Yorkshire Programme 67,109 9,349 76,458 88,899
More in Common Programme 110,031 8,902 118,933 100,072
Great Get Together 70,975 5,961 76,936 112,057
Connection Coalition 34,889 3,037 37,926 75,778
Communities (general) 30,548 2,598 33,146 -
Respectful Politics 50,804 4,376 55,180 50,541
Fairer World - - - 12,405
Core charitable activities 84,461 43,538 127,999 128,818
────── ────── ────── ──────
448,817 77,761 526,578 568,570
══════ ══════ ══════ ══════

Of the £568,570 expenditure recognised in 2023, £96,825 was charged to unrestricted funds and £471,745 was charged to restricted funds.

33

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

7. ANALYSIS OF DIRECT COSTS

----- Start of picture text -----
|||| |---|---|---| |Total|Total| |2024|2023| |£|£| |Staff salaries|366,734 390,769| |Miscellaneous HR costs|2,131|1,190| |Recruitment and training|1,707|3,206| |Travel and subsistence:| |- staff|18,324|13,117| |- trustees|288|-| |- volunteers|4|-| |Marketing and advertising|11,641|26,123| |Websites and database|21,935|28,193| |Project costs|26,053|21,704| |Monitoring and Evaluation|-|6,530| |──────|──────| |448,817 490,832| |══════|══════|

----- End of picture text -----

34

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

8. ANALYSIS OF SUPPORT COSTS

----- Start of picture text -----
|||| |---|---|---| |Total|Total| |2024|2023| |£|£| |Staff salaries|42,192|46,613| |Payroll costs|2,324|3,080| |IT costs|10,463|4,639| |Bank charges|76|515| |Premises and related costs|4,759|11,500| |Insurance|1,864|158| |Depreciation|1,525|1,228| |Amortisation|6,779|2,842| |Governance costs (see note 9)|3,189|2,119| |Stationery and postage|2,304|2,611| |Telephone and internet|800|883| |Subscriptions|1,486|1,550| |──────|──────| |77,761|77,738| |══════|══════|

----- End of picture text -----

9. GOVERNANCE COSTS

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Independent Examination fees|2,303|1,878| |Board costs|886|241| |──────|──────| |3,189|2,119| |══════|══════|

----- End of picture text -----

35

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

10. STAFF COSTS

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Wages and salaries|383,784|437,496| |Social security costs|32,064|36,456| |Pension costs|8,279|9,362| |Redundancy payments|10,183| |───────|───────| |434,310|483,314| |═══════|═══════|

----- End of picture text -----

During the year, the charitable company made redundancy payments following a restructuring of operations. These payments were made under the terms of an approved formal plan and represent a restructuring cost. The charitable company’s accounting policy is to recognise such costs as an expense in the Statement of Financial Activities and a liability on the balance sheet when the redundancy occurs. All payments were funded from general operating funds at the time of payment.

The redundancy payments were for four employees who were made redundant due to a discontinuation of roles as part of a strategic reorganisation of the charitable company’s operations. The payments were made in accordance with statutory requirements and included a contractual notice period and a redundancy period based on length of service.

The average number of employees during the year was as follows:

----- Start of picture text -----
|||| |---|---|---| |Particulars of employees:|2024|2023| |No.|No.| |Chief Executive|1|1| |Administrative staff|4|4.5| |Charitable activities|10|10.5| |───────|───────| |15|16| |═══════|═══════|

----- End of picture text -----

36

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

10. STAFF COSTS (cont’d)

Total employee benefits received by key management, including employer’s pension costs, amounted to £74,490 (2023: £76,676).

Under FRS 102, employee benefits include gross salary, benefits in kind, employer’s national insurance and employer’s pension costs.

No employees received total employee benefits (excluding employer’s national insurance and employer pension costs) of £60,000 or more during the financial year 2024 (2023: 1 employee received total benefits between £60,000 and £70,000).

11. TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS

No trustee received any remuneration during the year and previous year.

Two trustees (2023: None) were reimbursed for their travel and subsistence during the year totalling £288 (2023 : £Nil).

No trustee or other person related to the charitable company had any personal interest in any contract or transaction entered into by the charitable company during the year (2023: Nil).

The charitable company did not receive any donations from related parties that require disclosure (2023: Nil). The aggregate amount of all donations received from related parties was £130 (2023: £100).

37

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

12. TANGIBLE FIXED ASSETS

Computer
Equipment Total
£ £
Cost
At 1 January 2024 5,155 5,155
Additions 399 399
Disposals - -
────── ──────
At 31 December 2024 5,554 5,554
────── ──────
Depreciation
At 1 January 2024 1,971 1,971
Charged in the year 1,525 1,525
Eliminated on disposals - -
────── ──────
At 31 December 2024 3,496 3,496
────── ──────
Net book value
31 December 2024 2,058 2,058
══════ ══════
31 December 2023 3,184 3,184
══════ ══════

38

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

13. INTANGIBLE FIXED ASSETS

Website &
Database Total
£ £
Cost
At 1 January 2024 33,895 33,895
Additions - -
Disposals - -
────── ──────
At 31 December 2024 33,895 33,895
────── ──────
Amortisation
At 1 January 2024 2,843 2,843
Charged in the year 6,779 6,779
Eliminated on disposals - -
────── ──────
At 31 December 2024 9,622 9,622
────── ──────
Net book value
31 December 2024 24,273 24,273
══════ ══════
31 December 2023 31,052 31,052
══════ ══════

39

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

14. FIXED ASSET INVESTMENTS

14. FIXED ASSET INVESTMENTS
2024 2023
£ £
Shares in group undertakings 1 1 1
────── ──────
1 1 1
────── ──────
15. DEBTORS
2024 2023
£ £
Prepayments and Accrued income 10,189 16,277
Other debtors 50 606
────── ──────
10,239 16,883
══════ ══════
16. CREDITORS
Amounts falling due within one year 2024 2023
£ £
Trade Creditors 1,406 3,976
Amounts owed to group undertakings 277 2,398
Accruals 6,689 16,400
Taxation and Social Security 3,000 9,321
Pensions 752 1,952
────── ──────
12,124 34,047
══════ ══════

40

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted Designated Restricted|Total| |2024|Funds|Funds|Funds|Funds| |£|£|£|£| |Fixed assets|-|26,332|-|26,332| |Current assets|88,069|-|140,348|228,417| |Current liabilities|(12,124)|-|-|(12,124)| |──────|──────|──────|──────| |Net assets at 31 December 2024|75,945|26,332|140,348 242,625| |══════|══════|══════|══════|

----- End of picture text -----

Comparative information for the previous financial year is as follows:

----- Start of picture text -----
|||||| |---|---|---|---|---| |Unrestricted Designated Restricted|Total| |2023|Funds|Funds|Funds|Funds| |£|£|£|£| |Fixed assets|-|34,237|-|34,237| |Current assets|173,915|-|124,349 298,264| |Current liabilities|(34,047)|-|- (34,047)| |──────|──────|──────|──────| |Net assets at 31 December 2023|139,868|34,237|124,349 298,454| |══════|══════|══════|══════|

----- End of picture text -----

41

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

18. MOVEMENT IN FUNDS

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |At 1|At 31| |January|Income Expenditure Transfers December| |2024|2024|2024| |Restricted funds:|£|£|£|£|£| |Batley and Spen|8,400|8,000|(13,000)|-|3,400| |Astra Connection Coalition|58,437|-|(58,437)|-|-| |Joseph Rowntree Reform Trust|3,051|28,358|(31,409)|-|-| |Lottery: Bringing People Together|54,461|173,071|(200,899)|-|26,633| |Lottery: Reaching Communities|-|75,680|(41,610)|-|34,070| |Misc: Civility Commission|-|500|(500)|-|-| |Astra: Loneliness Policy Group|-|76,245|-|-|76,245| |──────|──────|──────|─────|──────| |Total restricted funds|124,349|361,854|(345,855)|-|140,348| |──────|──────|──────|─────|──────| |Unrestricted funds:| |General funds|139,868|173,061|(236,585)|(399)|75,945| |Fixed assets|34,237|-|(8,304)|399|26,332| |──────|──────|──────|─────|──────| |Total unrestricted funds|174,105|173,061|(244,889)|-|102,277| |──────|──────|──────|──────|──────| |Total funds|298,454|534,915|(590,744)|-|242,625| |══════|══════|══════|══════|══════|

----- End of picture text -----

42

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

18. MOVEMENT IN FUNDS (cont’d)

Comparative information for the previous financial year is as follows:

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |At 1|At 31| |January|Income Expenditure Transfers December| |2023|2023|2023| |Restricted funds:|£|£|£|£|£| |Batley and Spen|5,000|16,100|(12,700)|-|8,400| |Esmee Fairbairn|6,345|4,000|(10,345)|-|-| |Spirit of 2012|28,480|197,428|(225,908)|-|-| |Astra Connection Coalition|100,968|89,650|(132,181)|-|58,437| |Joseph Rowntree Reform Trust|-|24,202|(21,151)|-|3,051| |Lottery: Bringing People Together|-|99,103|(44,642)|-|54,461| |Leeds City Council|-|24,748|(24,818)|70|0| |──────|──────|──────|─────|──────| |Total restricted funds|140,793|455,231|(471,745)|70|124,349| |──────|──────|──────|─────|──────| |Unrestricted funds:| |General funds|121,848|229,496|(173,099)|(38,377)|139,868| |Fixed assets|-|-|(4,070)|38,307|34,237| |──────|──────|──────|─────|──────| |Total unrestricted| |funds|121,848|229,496|(177,169)|(70)|174,105| |──────|──────|──────|──────|──────| |Total funds|262,641|684,727|(648,914)|-|298,454| |══════|══════|══════|══════|══════|

----- End of picture text -----

43

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

18. MOVEMENT IN FUNDS (cont’d)

Purpose of restricted funds

Restricted funds are money earmarked for activities stipulated by the funder and used for the objectives set by them. These funds are detailed here:

Batley and Spen Community projects delivered in Batley and Spen Esmee Fairbairn More in Common network (groups and partnerships undertaking social cohesion work in their local area) Spirit of 2012 Moment to Movement project Astra: Connection Coalition Connection Coalition (network of organisations delivering work to address loneliness) Joseph Rowntree Reform Trust Jo Cox Civility Commission (addressing abuse and intimidation of elected representatives) Lottery: Bringing People Together More in Common network (groups and partnerships undertaking social cohesion work in their local area) Lottery: Reaching Communities Bridging & Belonging project in North Kirklees Misc: Civility Commission Jo Cox Civility Commission (addressing abuse and intimidation of elected representatives) Astra: Loneliness Policy Group Convening voluntary sector organisations to develop policy recommendations for addressing loneliness Leeds City Council Great Get Together/Migration Yorkshire collaboration

Designated funds

The Trustees decided that the net book value of the fixed assets should be designated as it does not form part of the free reserves of the charitable company.

These assets are used to support charitable activities and are depreciated (tangible fixed assets) or amortised (intangible fixed assets) in accordance with the relevant accounting policies as laid out in note one on pages 28 - 30.

44

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024 (cont’d)

19. COMMITMENTS UNDER OPERATING LEASES

The total future minimum lease payments due under non-cancellable operating leases are as follows:

are as follows:
2024 2023
Land and Land and
Buildings Buildings
£ £
Within one year 180 364
Within one to five years - -
────── ──────
180 364
══════ ══════

20. COMPANY STATUS

The Jo Cox Foundation is a private company limited by guarantee and has no share capital. It is incorporated in Great Britain and registered in England and Wales. Each member is liable to contribute a sum not exceeding £1 in the event of the Company being wound up. The address of the registered office can be found in the Reference and Administration details on page 19.

21. TAXATION

The charitable company is exempt from corporation tax on its charitable activities.

22. CONTINGENT ASSETS

The amount of funding awarded to the charitable company but not recognised at 31 December 2024 was £422,450 (2023: £399,409).

45