Company registration number: 12098754 Charity registration number: 1195041
## Charitable Journalism Project Unaudited financial statements
Year ended 30 June 2022
Independent examination completed 28 April 2023
## Charitable Journalism Project
## Contents
|Statement of Trustees’ Responsibilities|3|
|---|---|
|Trustees’ Report|4 – 8|
|Reference and Administrative Details|9 – 12|
|Independent Examiner’s Report|13 – 14|
|Statement of Financial Activities|15|
|Balance Sheet|16|
|Notes to the Financial Statements|17 – 20|
2
## Charitable Journalism Project
## Statement of Trustees' Responsibilities
The trustees (who are also the directors of Charitable Journalism Project for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
Company law requires the trustees 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 affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and 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 prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions
Approved by the trustees of the charity on 1 May 2023 and signed on its behalf by:
……………………
3
## **Trustees’ annual report (including Directors’ report) for the period**
**From: 01/07/21 To: 30/06/22**
**Charity name: Charitable Journalism Project Charity registration number: 1195041 Company number: 12098754**
## **Objectives and activities**
|**jectives and activities**|||
|---|---|---|
||SORP reference||
|Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The Charity’s objects are, for the public
benefit, to: promote citizenship and
civic responsibility and encourage and
facilitate informed participation and
engagement by members of the public
in their communities and in democratic
processes; promote high ethical and
quality standards in journalism; and
advance education in relation to Public
Benefit Journalism, in each case through
research, providing accurate and
relevant information, and promoting
informed public discourse and debate,
all in relation to Public Benefit
Journalism.|
|Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or services
identified in the accounts.|Para 1.17 and
1.19|Maintaining a website
Providing evidence to select
committees and other interested parties
Conducting and publishing research
projects to advance our objects|
|Statement confirming whether
the trustees have had regard
to the guidance issued by the
Charity Commission on public
benefit|Para 1.18|Yes|
## **Additional information (optional)**
## You may choose to include further statements where relevant about:
SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other
## **Achievements and performance**
|Summary of the main
achievements of the charity,
identifying the difference
the charity’s work has made
to the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|We have completed a research project,
the first of its kind, on Local News
Deserts in the UK. This is
groundbreaking research that has
demonstrated for the first time the
results of the decline of local news
provision across the country, and how
charitable efforts to bolster Public
Interest Journalism could reverse its
fortunes and sustain the industry.
We have also given evidence to a
number of government inquiries,
including the recent DCMS Select
Committee’s Sustainability of Local
Journalism inquiry, and our evidence
was referenced a number of times in
their report.|
|---|---|---|
## **Additional information (optional)**
## You may choose to include further statements where relevant about:
Para 1.41 Achievements against objectives set Para 1.41 Performance of fundraising activities against objectives set Para 1.41 Investment performance against objectives Other
## **Financial review**
|**ancial review**|||
|---|---|---|
|Review of the charity’s
financial position at the end of
the period|Para 1.21|We have concluded our research
project within budget. Our core
activities continue and we have healthy
reserves from our core funding.|
|Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|Our remaining core funding pays for an
administrator, and any contractors we
might need to undertake future
research, or tasks.|
|Amount of reserves held|Para 1.22|17,934|
|Reasons for holding zero
reserves|Para 1.22|N/a|
|Details of fund materially in
deficit|Para 1.24|N/a|
|---|---|---|
|Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|N/a|
## **Additional information (optional)** You may choose to include further statements where relevant about:
Para 1.47 The charity’s principal sources of funds (including any fundraising) Para 1.46 Investment policy and objectives including any social investment policy adopted Para 1.46 A description of the principal risks facing the charity Other
## **Structure, governance and management**
|Description of charity’s trusts:|||
|---|---|---|
|Type of governing document:
for example,trust deed,
memorandum and articles of
association etc|Para 1.25|Memorandum and articles of association|
|How is the charity
constituted?|Para 1.25|Company Limited by Guarantee and not
having a Share Capital|
|for example limited company,
unincorporated association,
CIO|||
|---|---|---|
|Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled to
appoint one or more trustees|Para 1.25|Five trustees were appointed at the
creation of the organisation and they
have the ability to add more to their
number, by agreement.|
||||
## **Additional information (optional)**
You may choose to include further statements where relevant about:
Para 1.51 Policies and procedures adopted for the induction and training of trustees Para 1.51 The charity’s organisational structure and any wider network with which the charity works Para 1.51 Relationship with any related parties Other
## **Reference and administrative details**
|Charity name|Charitable Journalism Project|
|---|---|
|Other name the charity uses|-|
|Registered charity number|1195041|
|Charity’s principal address|19 City View Apartments, BS5 0AA|
## **Names of the charity trustees who manage the charity**
**----- Start of picture text -----**
Name of person (or body)
Dates acted if not for
Trustee name Office (if any) entitled to appoint trustee (if
whole year
any)
1 Kitty Von Bertele
2 George Brock
3 Martin Moore
4 Emma Meese
5 Rachel Oldroyd
6
7
8
9
10
11
12
**----- End of picture text -----**
13 14 15 16 17 18 19 20
Corporate trustees – names of the directors at the date the report was approved
**Director name**
Name of trustees holding title to property belonging to the charity
**Trustee name Dates acted if not for whole year**
## **Funds held as custodian trustees on behalf of others**
|Description of the assets held
in this capacity|N/a|
|---|---|
|Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects||
|Details of arrangements for
safe custody and segregation
of such assets from the
charity’s own assets||
## **Additional information (optional)**
## **Names and addresses of advisers (optional information)**
**Type of Name Address adviser Name of chief executive or names of senior staff members (optional information)**
## **Exemptions from disclosure**
## Reason for non-disclosure of key personnel details
The Charitable Journalism Project is a trustee led initiative and does not employ staff.
## **Other optional information**
## **Declarations**
**The company has taken advantage of the small companies’ exemption in preparing the report above.**
**The trustees declare that they have approved the trustees’ report (including directors’ report) above.**
**Signed on behalf of the charity’s trustees/directors**
**Signature(s)** Kitty Von Bertele **Full name(s)**
> **Position (for example** Chair **Secretary, Chair, etc)**
**Date**
27 April 2023
## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CHARITABLE JOURNALISM PROJECT**
I report to the charity’s trustees on my examination of the accounts of Charitable Journalism Project for the period ended 30 June 2022.
## **Respective responsibilities of trustees and examiner**
The charity’s trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the Act), as amended by s.145 of the Charities Act 2011) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under the company law and is eligible for independent examination; it is my responsibility to:
- Examine the accounts (under section 145 of the 2011 Act),
- To follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b) Act), and
- to state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required by audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In the course of my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect:
- the accounting records were not kept in accordance with section 130 of the Charities Act; or
- the accounts did not accord with the accounting records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Steven Baptiste ACPA
Linden Accountants, Scrapstore House, 21 Sevier Street, St Werburghs, Bristol, BS2 9LB
Steven Baptiste Date .......... 28 April 2023 …………………
## Charitable Journalism Project
STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account) YEAR ENDED 30 JUNE 2022
**----- Start of picture text -----**
Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
Note £ £ £ £
INCOME
Grant Income 2 - 57,653 57,653 -
Donation Income 1,852 - 1,852 -
Other income 2 - 2 -
TOTAL INCOME AND ENDOWMENTS 1,854 57,653 59,507 -
EXPENDITURE
Expenditure on charitable activities 3 1,062 41,571 42,633 -
TOTAL EXPENDITURE 1,062 41,571 42,633 -
NET INCOME/(EXPENDITURE) 792 16,082 16,874 -
- - - -
Balances brought forward
Gross Transfers Between Funds 8 - - - -
Balances carried forward 792 16,082 16,874 -
**----- End of picture text -----**
The charity has no recognised gains or losses other than the results for the year as set out above.
All of the activities of the charity are classed as continuing.
The notes on pages 17 to 20 form part of these financial statements
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Charitable Journalism Project
## BALANCE SHEET
YEAR ENDED 30 JUNE 2022
**----- Start of picture text -----**
2022 2021
Note £ £
FIXED ASSETS:
- -
Tangible assets
CURRENT ASSETS:
Debtors 5 - -
Cash at bank and in hand 17,936 -
-
17,936
CURRENT LIABILITIES:
Creditors: falling due within one year 6 - 1,062 -
Net current assets 16,874 -
NET ASSETS: 16,874 -
FUNDS
General funds 8 792 -
Restricted funds 8 16,082 -
-
16,874
**----- End of picture text -----**
These financial statements were approved by the directors and authorised for issue on 1st May 2023 and are signed on their behalf by:
………………………………………………………. Chair of Trustees
Charity Registration Number: 1195041
The notes on pages 17 to 20 form part of these financial statements
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Charitable Journalism Project
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2022
## 1 ACCOUNTING POLICIES
## Accounting convention
The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102 SORP) issued in July 2014, and applicable UK Accounting Standards and the Charities Act 2011.
## Funds structure
Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds where the trustees, at their discretion, have set aside resources for a specific purpose.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor or the terms of a specific appeal.
## Income
All income is recognised once the charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of income can be measured with sufficient reliability.
Income from donations is included when these are receivable, except as follows:
- When the donors specify that the donations given to the charity must be used in future accounting periods.
- When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.
Income from grants, where there are performance or service deliverables required by the terms of the grant, are accounted for as the charity earns the right to payment through its performance.
## Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that agree all costs related to the category. Support costs have been allocated 100% towards the charitable activities of the charity.
## Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both the direct pay and non-pay costs and support costs relating to those activities.
## Going concern
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue its operations for the foreseeable future and therefore they have continued to adopt the going concern basis when preparing the financial statements.
## Governance costs
Governance cost include those costs associated with meeting the constitutional and statutory requirements of the charity, and include its independent examination fees and costs linked to the strategic management of the charity including trustee expenses.
- 17 -
NOTES TO THE FINANCIAL STATEMENTS
## Charitable Journalism Project
## YEAR ENDED 30 JUNE 2022
## 2 GRANT INCOME
|Luminate
JRSST
DIRECT CHARITABLE EXPENDITURE
Charitable Activities
Direct Costs
Support Costs / (Overheads)
Professional Fees
Freelance Staff Wages
Postage
Printing and Typesetting
Software and Web Hosting
Bank Fees
Accounting Fees
Governance Costs
Independent Examination Fee|Unrestricted
Funds
£
-
-
-
Unrestricted
Funds
£
-
-
-
-
-
-
-
360
360
Unrestricted
Funds
£
702
702|Restricted
Funds
£
31,403
26,250
57,653
Restricted
Funds
£
27,218
10,696
1,409
33
1,983
157
76
-
41,571
Restricted
Funds
£
-
-|Total Funds
2022
£
31,403
26,250
57,653
Total Funds
2022
£
27,218
10,696
1,409
33
1,983
157
76
360
41,931
Total Funds
2022
£
702
702|Total Funds
2021
£
-
-
-
Total Funds
2021
£
-
-
-
-
-
-
-
-
-
Total Funds
2021
£
-
-|
|---|---|---|---|---|
- 3 DIRECT CHARITABLE EXPENDITURE
- 4 CORPORATION TAX
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
- 18 -
Charitable Journalism Project
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2022
|5
DEBTORS
Trade Debtors
Other Debtors
6
CREDITORS: amounts falling due within one year
Accruals
Other Creditors
7
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fixed Assets
Current Assets
Current Liabilities|Unrestricted
Funds
£
-
1,854
(1,062)
792|Restricted
Funds
£
-
16,082
-
16,082|2022
£
-
-
-
2022
£
1,062
-
1,062
Total Funds
2022
£
-
17,936
(1,062)
16,874|2021
£
-
-
-
2021
£
-
-
-
Total Funds
2021
£
-
-
-
-|
|---|---|---|---|---|
- 19 -
## Charitable Journalism Project
## NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2022
**----- Start of picture text -----**
8 ANALYSIS OF CHARITABLE FUNDS
Analysis of Balance Income Expenditure Transfers Fund
Fund movements b/fwd c/fwd
£ £ £ £ £
Unrestricted funds:
General funds - 1,854 (1,062) - 792
- 1,854 (1,062) - 792
Balance Income Expenditure Transfers Fund
b/fwd c/fwd
£ £ £ £ £
Restricted funds:
Luminate - 31,403 (13,121) - 18,282
JRSST - 26,250 (28,449) - (2,199)
- -
57,653 (41,571) 16,082
Total - 59,507 (42,633) - 16,874
**----- End of picture text -----**
## Luminate US Services, LLC
To support Recipient's work to build long-term support for public benefit journalism, conduct a research study on local/community news, and convene journalists interesting in registering newsrooms as charities
## JRSST Charitable Trust - 'News deserts' and information needs study
1. Improve understanding of the depth and breadth of the decline in local, public interest journalism;
2. Increase pressure for public interest journalism organisations to be granted charity status
## 9 RELATED PARTY TRANSACTIONS
There were no related party transactions between the charity and the trustees or persons or entities connected to them during the year.
- 20 -