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2024-01-31-accounts

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

Registered number: 13882886 Charity number: 1201812

JUSTICE FOR JOURNALISTS FOUNDATION (A company limited by guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 9
Trustees' responsibilities statement 10
Independent auditor's report on the financial statements 11 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 32

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE PERIOD ENDED 31 JANUARY 2024

Trustees & directors Maria Ordzhonikidze, Chair
Maria Logan, Trustee
Vafa Fati-Zada, Trustee (appointed 2 September 2024)
Olga Dolburt, Trustee (resigned 18 July 2024)
Richard Pooley (appointed 18 July 2024, resigned 2 September 2024)
Company registered
number
13882886
Charity registered
number
1201812
Registered office
16 Great Queen Street
Covent Garden
London
WC2B 5AH
Principal office
67 Wimpole Street
London
W1G 8AP
Independent auditor
Marc Levy FCA
Blick Rothenberg Audit LLP
Chartered Accountants
Statutory Auditor
16 Great Queen Street
Covent Garden
London
WC2B 5AH

Page 1

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee) TRUSTEES' REPORT FOR THE PERIOD ENDED 31 JANUARY 2024

The Trustees present their annual report together with the audited financial statements of the charity for the period of 1 February 2023 to 31 January 2024. The Annual report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Aims and objectives

The objects of the charity are:

All activities undertaken by the charity are subject to its freedom of expression criteria set forth with prominence on its website and as summarised below,

The Trustees do note the Universal Declaration on Human Rights, and European Convention on Human Rights do not create an absolute human right to freedom of expression and that there are constraints which are necessary and appropriate. All activities (whether investigative grant consideration, risk mapping and approval of, or lending support to, campaigns undertaken by other charities and like organisations) take these limitations into consideration. Accordingly, the Trustees have formal criteria and processes in place to ensure these are upheld.

The Universal Declaration on Human Rights does not create an absolute right to freedom of speech but it (together with its successor: the International Covenant on Civil and Political Rights) sets a balance with a range of other rights and freedoms. These exceptions are further developed in the European Convention on Human Rights and incorporated into UK domestic law in the Human Rights Act 1998.

Page 2

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Objectives and activities (continued)

States may restrict this right if they can show that their action is lawful, necessary and proportionate for example, in order to:

  1. Protect national security, territorial integrity (the borders of the state) or public safety.

  2. Prevent disorder or crime.

  3. Protect health or morals.

  4. Protect the rights and reputations of other people.

  5. Prevent the disclosure of information received in confidence.

  6. Maintain the authority and impartiality of judges.

The Trustees shall always consider in carrying out the objects of the charity and activities set forth below, awareness of the above criteria on the following basis:

In accordance with the charity's Mission Statement and Objects, the charity provides support worldwide, for the investigation of violence and abuse against media workers who have been targeted as a result of carrying out their professional duties and raising public awareness by various means as further described in this Report. The vast majority of attacks against media workers remain unpunished, and there are currently no international mechanisms for pursuing and obtaining justice.

The term ‘media workers’ includes journalists, camerapersons, photographers and other employees and managers of traditional and digital media, as well as online bloggers.

b. Grant-making programme

The Charity has adopted its annual investigative grant programme to achieve its objectives to raise public awareness of acts causing harm to journalists and other media workers in the conduct of their legitimate duties.

The Trustees are committed to ensure the criteria above are applied in relation its investigative grant programme to journalists and other media workers as more particularly described on the charity website and in accordance with the requirements of the Charity Commission to administer the grant programme in a way that identifies and manages risk, to ensure it is administered in accordance with the charity’s objects and criteria and in compliance with all relevant laws.

The grants are available to media workers and organisations all over the world who are able to receive funds from the charity in compliance with all required due diligence procedures, and any legal restrictions, to which the charity may be subject.

The maximum amount offered for each individual grant is set at the commencement of the grant eligibility period (currently up to 80,000 US Dollars). Specific details of what a grant may over and what is disallowed are contained in the grant programme conditions on the charity’s website.

The Trustees ensure the criteria set out above, is stated in the grant application terms so that applicants shall be aware at the outset prior to any submission of an application. The applicant shall be required to confirm it has assessed its application satisfies such criteria.

Any application not satisfying this requirement shall in the first instance be rejected.

Page 3

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Objectives and activities (continued)

By these processes, the Trustees shall ensure only applications going through the recommendation processes through the Expert and Advisory Boards satisfying these criteria shall proceed to final determination by the Trustees.

Qualifications:

All grant applications submitted to the charity must comply with the guidelines and criteria set forth above and in the Investigative Grant Programme conditions on the charity’s website. Submissions in the first instance are reviewed by charity’s Grant Application Officer and researchers.

Any submissions failing to meet any of the conditions are immediately rejected without further referral to the Trustees and Expert and Advisory Boards. The charity Grant Application Officer shall ensure all short listed applications satisfy these criteria before submission to the Expert Board.

Any shortlisted applications which in the opinion of the charity Grant Application Officer do not satisfy these criteria shall be rejected at this stage. If the charity Grant Application Officer is undecided, the application shall be submitted to the Trustees for a determination on this issue. Following such secondary review, the application shall either be rejected or forwarded to the Expert Board for initial content assessment.

Reviews by researchers shall comprise in relation to the subject matter, verification by internet search engines, other open source information avenues and independent verification by other organisations involved in activities of like nature to the charity including those organisations having links to the charity.

Additionally, references on the applicant are required for verification. As referred to above, all grant applications fulfilling the Investigative Grant Programme conditions will require independent verification of the subject matter covered by the grant application and the identity of the applicant by the charity’s researchers.

Preference is given to individuals or other media organisations having stringent reporting procedures and a proven track record of successful reporting projects.

Shortlisted grant applications are submitted to the Trustees for further review.

The Trustees determine a further shortlist of grant applications for review and discussion with the Expert and Advisory Boards.

Advisory and Expert Boards and Trustees

Expert Board

The Expert Board comprises experienced and internationally respected journalists from print and broadcast media who assess the selected grant applications on the merit of the journalism and budget requirements. Their role is to provide advice and assistance to the Trustees in the further selection of approved grant applicants having due regard to the charity’s Objects.

The Trustees consider all representations provided by the Expert Board. The Trustees then further shortlist the grant applications for review by the Advisory Board.

Page 4

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Objectives and activities (continued)

Advisory Board

The Advisory Board comprises renowned advocates of freedom of expression and free speech from around the world whose role is to focus on the merits of the selected grant applications to assess those having the most significant impact in terms of furthering the Objects of the charity who then report their findings to the Trustees.

The Trustees consider all representations provided by the Advisory Board.

Trustees

Final approval of grant applications is reserved to the Trustees which shall make a final determination within the time limits set forth in the Investigative Grant Programme.

The Trustees may reject any recommendations made by either the Expert Board or the Advisory Board but can only accept a grant application fulfilling the Investigative Grant Programme conditions. The Trustees shall review the appointments to each of the Expert and Advisory Boards annually and shall make such changes as the Trustees shall approve or as required in the event any member becomes involved in activities which conflict with the Objects of the charity, or in the opinion of the Trustees may bring the charity into disrepute.

Successful Grant Applications

Following notification of a successful grant application, the charity enters into an agreement regarding the implementation of the grant on the terms contained in the Grant Agreement.

c. Other activities undertaken to further the charity's purposes for the public benefit

1. Media Safety Academy

The charity designs and delivers training programmes to professional and citizen journalists and other media workers around the world about safety tools and increasing safety awareness. These comprise online tutorials and in person courses with trained tutors (training and education via online and offline media safety training In Orkhan Dzhemal Media Safety Academy). In person courses are administered throughout the year in differing locations.

2. Media Risk Map

Together with its partners and experts, the charity carries out daily monitoring of attacks against media workers in all postSoviet countries excluding the Baltic states, the results of which are published on the Media Risk Map on its website, in both Russian and English.

The purpose is to monitor attacks and abuses against journalists and other media workers as highlighted below as further specified in its Objects. All listings on the Media Risk Map are provided after due consideration of the criteria set out above.

The Media Risk Map is updated on a regular basis since its inception in 2017. The data is collected by the charity’s partners and experts from open sources in Russian, English and the relevant state language.

3. Cooperation with other concerns involved in similar objects

The charity cooperates with other charities, not for profit organisations, non-governmental organisations, civil societies and like concerns by involvement in international advocacy of human rights by way of contribution to international conferences and seminars focussing on freedom of expression and freedom of speech.

Page 5

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Objectives and activities (continued)

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Achievements and performance

a. Main achievements of the charity

During the current period the Charity has approved 16 Grant applications to share around 340,000 US Dollars for the projects in three priority thematic areas.

  1. Investigations into the crimes against journalists operating in conflict zones, hostile environments, and/or during protests.

  2. Raising awareness of and support campaigns against Strategic Litigation Against Public Participation (SLAPP) as a tool to silence independent journalists both in the context of the UK and globally.

  3. Safety of journalists living and working in excile.

The following was achieved with the help of the charity’s funding this year:

Following the end of the financial year, the investigative grant programme came to an end in September 2024 and all outstanding grants have been completed. The Charity has since focused solely on attendance at conferences, lectures and seminars with similar charitable concerns and nongovernmental organisations, maintaining its media risk mapping function on its website and the provision of safety training for journalists. These activities only will continue for the foreseeable future.

Page 6

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The charity has no outstanding commitments or cash demands which are not adequately covered by existing resources. The total reserves of the charity at 31 January 2024 are $633,367, of which $26,844 are restricted funds and $534,396 is in the form of an expendable endowment which is capital funds of the charity, that can be applied as income at the discretion of the trustees. The balance of $72,127 are unrestricted funds, which represents the charity’s “free reserves”. The Trustees consider that freely expendable funds are appropriate and adequate taking into account plans for the future and have therefore not yet designated a specific reserves policy. However, the Trustees will keep this under constant review. In future years a specific reserves policy may be adopted.

c. Risk management

The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks. The Internal Controls Policy has been put in place to ensure financial controls are applied in accordance with the requirement of the Charity Commission and such controls comprise essential checks and procedures to help the Trustees meet their legal duties to safeguard the Charity’s assets i.e. the fund, to administer the Charity’s finances in a way that identifies and manages risks., ensure the quality of financial reporting by keeping adequate accounting records and preparing timely and relevant financial information. The following Risk Registers have been put in place and are updated regularly:

  1. Compliance (Law and Regulations) Risk Register

  2. Financial Risks Register

  3. Governance Risk Register

  4. Operational Risks Register

The Trustees use a range of methods to identify risks, including reviewing past incidents and events, conducting risk assessments, and consulting with staff and other relevant parties. They assess the likelihood and impact of identified risks, in order to determine their priority for mitigation and use a range of methods to assess risks, including qualitative and quotative analysis.The Trustees ensure that their assessments are based on reliable data and evidence.

d. Results for the period

The Statement of Financial Activities set out on page 16 of the financial statements shows how the Charity's incoming resources have been expended during the year ended 31 January 2024.

Total incoming resources amounted to $1,543,132 (2023: $956,665), comprising unrestricted donations of $415,626, restricted donations of $340,339, an expendable endowment of $780,000 and income from charitable activities of $7,167.

Total expenditure for the period was $996,878 (2023: $869,552), which included grants paid to charitable institutions of $414,431 (2023: $263,272), grants paid to individuals of $152,761 (2023: $106,372), other costs of $531,057 (2023: $481,413) and governance costs of $51,390 (2023 $18,495).

During the year, $245,604 was transferred by the trustees from the expendable endowment funds to the unrestricted income funds.

Page 7

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Accordingly, the surplus for the year was $546,254 (2023: $87,113).

The Balance sheet set out on page 17 of the financial statements shows the financial position of the Charity at 31 January 2024.

Net current assets and total net assets of $633,367 (2023: $87,113) comprises current assets of $697,245 (2023: $149,035), less current liabilities of $63,878 (2023: $61,922).

This is represented by the balance on the unrestricted funds of $72,127, restricted funds of $26,844 and expendable endowment funds of $534,396; total $633,367 (2023: $87,113).

Structure, governance and management

a. Constitution

Justice for Journalists Foundation came into existence on 28 February 2019. It was formed as a charitable concern to uphold freedom of expression and freedom of speech by the following means:

On 23 February 2022, all the above activities were incorporated into a newly formed structure in such manner, including specifically, compliance with the criteria set forth under “Aims and objectives” above, so as to fully comply with updated UK Charity and taxation rules for charitable enterprises which required the formation of a new charity in place of the old entity formed in 2019. The charity is a registered charity, number 1201812 and is constituted by its Articles of Association.

All operations, contracts, liabilities, and arrangements carried on in the old entity were transferred to the new charity or otherwise carried on solely for its benefit prior to receipt of any third- party consent where applicable.

The charity is also an incorporated company, number 13882886, Limited by Guarantee.

The address of the principal office is 67, Wimpole Street, London, United Kingdom, W1G 8AP.

In the event of the charity being wound up, member's liability in respect of the guarantee is limited to £10 per member of the charity.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of its Articles of Association.

c. Organisational structure and decision-making policies

The Board of Trustees consists of three Directors (the ‘Board’). Mrs. Maria Ordzhonikidze has been appointed as Chair of the Board. The Board is responsible for ensuring that the charity’s fundraising and donations processes are effective and compliant with relevant legislation, and for establishing policies and donations activities. The Chair of the Board is responsible for implementing the policies and procedures, and for ensuring that staff and volunteers are aware of their responsibilities for fundraising and donations. The day-to-day administration of

Page 8

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee) TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Structure, governance and management (continued)

grants and the processing and handling of applications is carried out by an experienced Grant Manager, who works on a Service Contract basis and has the relevant skills and experience.

At the quarterly Trustees’ meetings, the Trustees agree the broad strategy and areas of activity for the charity, including approval of donations, cooperation arrangements with other charities, not for profit organisations, nongovernmental organisations and civil societies etc, approval of Grant Recipients and the corresponding grant agreements, budgetary approvals concerning annual anticipated running costs and any interim changes of material nature: approval of annual financial statements and returns, and any other matters such as general reporting to Trustees of significant activities.

Trustees are required to disclose all relevant interests and register them with the Board of Trustees and in accordance with the Charity’s Articles of Association and conflict of interests’ policy withdraw from decisions where a conflict of interest arises.

Two Trustees give of their time freely with no remuneration. The Chair of the Board works full time on a yearly contract basis, which is reviewed by the other Trustees and renewed if approved, annually.

d. Trustees

The following served as trustees, and also as directors for the purpose of company law, during the period and up to the date of signature of the financial statements:

Maria Ordzhonikidze Maria Logan Olga Dolburt (resigned 18 July 2024)

After the year end, Richard Pooley was appointed as a trustee and director on 18 July 2024 but later resigned on 2 September 2024 and Vafa Fati-Zada was appointed as a trustee and director on 2 September 2024.

Disclosure of information to auditor

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Maria Ordzhonikidze

Chair

Date: 01-Nov-24 | 10:03 GMT

Page 9

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee) STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE PERIOD ENDED 31 JANUARY 2024

The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 charity 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:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 10

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JUSTICE FOR JOURNALISTS FOUNDATION

Opinion

We have audited the financial statements of Justice for Journalists Foundation (the 'charity') for the year ended 31 January 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 11

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JUSTICE FOR JOURNALISTS FOUNDATION (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

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Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JUSTICE FOR JOURNALISTS FOUNDATION (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JUSTICE FOR JOURNALISTS FOUNDATION (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF JUSTICE FOR JOURNALISTS FOUNDATION (CONTINUED) FOR THE PERIOD ENDED 31 JANUARY 2024

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's report.

Other matters

The comparatives were unaudited and therefore we express no opinion on them.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Marc Levy (FCA) (Senior statutory auditor)

for and on behalf of Blick Rothenberg Audit LLP

Chartered Accountants Statutory Auditor

16 Great Queen Street

Covent Garden

London

WC2B 5AH

01-Nov-24 | 16:52 GMT Date:

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Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE PERIOD ENDED 31 JANUARY 2024

Note
Income and
endowments from:
Donations
3
Charitable activities
Total income and
endowments
Expenditure on:
Charitable activities
4
Total expenditure
Net income/
(expenditure)
Transfers between
funds
14
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Endowment
funds
2024
$
780,000
-
780,000
-
-
780,000
(245,604)
534,396
-
534,396
534,396		 Restricted
funds
2024
$
340,339
-
340,339
313,495
313,495
26,844
-
26,844
-
26,844
26,844		 Unrestricted
funds
2024
$
415,626
7,167
422,793
683,383
683,383
(260,590)
245,604
(14,986)
87,113
(14,986)
72,127		 Total
funds
2024
$
1,535,965
7,167
1,543,132
996,878
996,878
546,254
-
546,254
87,113
546,254
633,367		 Total
funds
2023
$ 956,665
-
956,665
869,552
869,552
87,113
-
87,113
-
87,113
87,113

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 19 to 32 form part of these financial statements.

Page 16

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

REGISTERED NUMBER: 13882886

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

BALANCE SHEET FOR THE PERIOD ENDED 31 JANUARY 2024

Note
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total net assets
Charity funds
Endowment funds
14
Restricted funds
14
Unrestricted funds
14
Total funds		 24,729
672,516
697,245
(63,878)		 2024
$
633,367
633,367
534,396
26,844
72,127
633,367		 -
149,035
149,035
(61,922)		 2023
$ 87,113
87,113
-
-
87,113
87,113

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Maria Ordzhonikidze

Date: 01-Nov-24 | 10:03 GMT

The notes on pages 19 to 32 form part of these financial statements.

Page 17

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 JANUARY 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Net cash provided by investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 19 to 32 form part of these financial statements		 2024
$
526,346
-
-
526,346
146,170
672,516		 2023
$ 146,170
-
-
146,170
-
146,170

Page 18

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

1. General information

Justice for Journalists Foundation is a charity limited by guarantee incorporated in England and Wales under the Companies Act 2006 and the Charities Act 2011. The address of its registered office is 16 Great Queen Street, London, WC2B 5AH.

The charity is registered with the Charity Commission for England and Wales with charity no. 1201812.

The charity was incorporated on 31 January 2022 therefore the comparative figures for these financial statements are prepared for the period from 31 January 2022 to 31 January 2023.

The financial statements are presented in USD ($), which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest $.

In the event of the charity being wound up, the member's liability in respect of the guarantee is limited to £10 per member of the charity.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements 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 financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Justice for Journalists Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

After making enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Cash donations are recognised upon receipt. Other donations are recognised once the charity has been notified of the donation unless performance conditions require deferral of the amount.

Page 19

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

JUSTICE FOR JOURNALISTS FOUNDATION

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity.

Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are at the sole discretion of the Foundation and therefore are recognised when they are paid. Grants offered but not paid at the year end are noted as a commitment, but not accrued as expenditure for the year.

All expenditure is inclusive of irrecoverable VAT.

2.5 Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into dollars at rates of exchange ruling at the reporting date.

Transactions in foreign currencies are translated into dollars at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Statement of financial activities.

2.6 Cash at bank and in hand

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.7 Financial instruments

The charity has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the charity becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

The charity’s policies for its major classes of financial assets and financial liabilities are set out below.

Page 20

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

2. Accounting policies (continued)

Financial instruments (continued)

Financial assets

Basic financial assets, including other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the charity would receive for the asset if it were to be sold at the reporting date.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 21

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

(A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

JUSTICE FOR JOURNALISTS FOUNDATION

2. Accounting policies (continued)

Financial instruments (continued)

Derecognition of financial assets and financial liabilities

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Expendable endowment funds represent those assets which are held by the charity as capital funds, but which may be freely converted into income funds at the discretion of the trustees.

3. Income from donations

Donations
Donations		 Endowment
funds
2024
$
780,000		 Restricted
funds
2024
Unrestricted
funds
2024
$
$
340,339
415,626
Unrestricted
funds
2023
$ 956,665		 Total
funds
2024
$
1,535,965
Total
funds
2023
$ 956,665

Page 22

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

4. Analysis of expenditure on charitable activities

Summary by fund type

Investigative Grant Programme
Media Safety Academy
Media Risk Map
Investigative Grant Programme
Media Safety Academy
Media Risk Map		 Restricted
funds
2024
Unrestricted
funds
2024
$
$
242,053
287,381
48,542
132,060
22,900
263,942
313,495
683,383
Unrestricted
funds
2023
$ 515,731
249,963
103,858
869,552		 Total
2024
$
529,434
180,602
286,842
996,878
Total
2023
$ 515,731
249,963
103,858
869,552

5. Analysis of expenditure by activities

Investigative Grant Programme
Media Safety Academy
Media Risk Map		 Activities
undertaken
directly
2024
$
61,586
98,826
41,416
201,828		 Grant
funding of
activities
2024
$
342,635
-
224,557
567,192		 Support
costs
2024
$
125,213
81,776
20,869
227,858		 Total
funds
2024
$
529,434
180,602
286,842
996,878

Page 23

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

5. Analysis of expenditure by activities (continued)

Investigative Grant Programme
Media Safety Academy
Media Risk Map		 Activities
undertaken
directly
2023
$ 43,267
175,809
15,159
234,235		 Grant
funding of
activities
2023
$ 305,661
-
63,983
369,644		 Support
costs
2023
$ 166,803
74,154
24,716
265,673		 Total
funds
2023
$ 515,731
249,963
103,858
869,552

Analysis of direct costs

Investigative
Grant
Programme
2024
$
Media safety academy
-
Grant management
61,586
Media risk map
-
Advocacy and networking costs
-
61,586
Investigative
Grant
Programme
2023
$ Staff costs
-
Internship risk map
-
Media safety academy
-
Grant management
38,984
Administrative costs
4,283
Media risk map
-
Advocacy and networking costs
-
43,267		 Media
Safety
Academy
2024
$
18,881
-
-
79,945
98,826
Media Safety
Academy
2023
$ -
-
138,826
-
12,847
-
24,136
175,809		 Media Risk
Map
2024
$
-
-
41,416
-
41,416
Media Risk
Map
2023
$ 7,953
2,143
-
-
-
5,063
-
15,159		 Total
funds
2024
$
18,881
61,586
41,416
79,945
201,828
Total
funds
2023
$ 7,953
2,143
138,826
38,984
17,130
5,063
24,136
234,235

Page 24

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

5. Analysis of expenditure by activities (continued)

Analysis of support costs

Investigative
Grant
Programme
2024
$
Staff costs
10,359
Travel and accommodation
-
Legal fees
22,887
Administrative costs
49,211
Marketing and fundraising
4,465
Education materials
-
Loss on foreign exchange
557
Governance costs
37,734
125,213
Investigative
Grant
Programme
2023
$ Staff costs
4,773
Travel and accommodation
36,885
Legal fees
36,747
Grant management
5,848
Administrative costs
41,112
Other costs
10,843
Marketing and fundraising
5,189
Bank charges
3,388
FX loss
2,775
Bank interest
748
Governance costs
18,495
166,803		 Media
Safety
Academy
2024
$
5,180
19,203
11,443
20,055
2,233
4,516
279
18,867
81,776
Media Safety
Academy
2023
$ 2,386
18,443
18,374
2,924
20,556
5,422
2,594
1,694
1,387
374
-
74,154		 Media Risk
Map
2024
$
1,727
-
3,814
8,202
744
-
93
6,289
20,869
Media Risk
Map
2023
$ 795
6,147
6,124
975
6,852
1,807
864
565
463
124
-
24,716		 Total
funds
2024
$
17,266
19,203
38,144
77,468
7,442
4,516
929
62,890
227,858
Total
funds
2023
$ 7,954
61,475
61,245
9,747
68,520
18,072
8,647
5,647
4,625
1,246
18,495
265,673

Page 25

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

6. Analysis of governance costs

Investigative
Grant
Programme
2024
$
Audit fees
14,000
Accountancy fees
37,390
51,390
Investigative
Grant
Programme
2023
$ Accountancy fees
18,495		 Total
funds
2024
$
14,000
37,390
51,390
Total
funds
2023
$ 18,495

7. Analysis of grants

Grants towards Investigative Grant Programme
Grants towards Media Risk Map
Grants towards Investigative Grant Programme
Grants towards Media Risk Map		 Grants to
Institutions
2024
$
251,395
163,036
414,431
Grants to
Institutions
2023
$ 239,079
24,193
263,272		 Grants to
Individuals
2024
$
91,240
61,521
152,761
Grants to
Individuals
2023
$ 66,582
39,790
106,372		 Total
funds
2024
$
342,635
224,557
567,192
Total
funds
2023
$ 305,661
63,983
369,644

Page 26

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

8. The charity has made the following material grants to institution during the year:

NGO Truth Hounds
Association Willow
Centre for Journalism Innovation and Development
Open Democracy Limited
Balkan Investigative Reporting Regional Network
Coda Story
English Pen
Zaborona Media Europe MTÜ
Foreign Policy Centre
National Union of Journalists of Ukraine
Writers and Scholars educational Trust
Media and Law Society
PNC Bank National Association
Index Censorship
Centre for Democracy and Law
International Partnership for Human Rights
Tula Ltd
Libo Libo SIA
ID133 Limited
The VII Foundation
Other grants below $10,000
Auditor's remuneration
Fees payable to the charity's auditor for the audit (2023: independent
examination) of the charity's annual accounts
Fees payable to the charity's auditor in respect of:
All non-audit services not included above		 2024
$
30,000
-
-
15,000
15,000
-
18,500
25,000
-
-
-
10,000
12,500
13,628
10,000
25,000
40,000
22,800
135,246
27,790
13,967
414,431
2024
$
20,956
19,209		 2023
$ 30,000
25,000
15,000
15,000
15,000
21,000
10,000
25,000
32,527
25,000
10,000
-
-
-
-
-
-
-
-
-
39,745
263,272
2023
$ 5,149
26,527

9. Auditor's remuneration

Page 27

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

10. Staff costs

2024
$
Wages and salaries
17,003
National insurance contributions
-
Defined contribution pension scheme
263
17,266
The average number of persons employed by the charity during the period was as follows:
2024
No.
Employee
1		 2023
$ 14,898
856
153
15,907
2023
No.
1

No employee received remuneration amounting to more than $60,000 during the period.

11. Trustees' remuneration and expenses

During the period, $78,065 (2023: $62,365) was paid to MO Executive Consulting Limited in respect of consultancy services provided by Maria Ordzhonikidze, one of the trustees.

During the period ended 31 January 2024, expenses totalling $23,057 (2023:$9,706) were reimbursed to 1 Trustee. The expenses reimbursed included travel, subsistence and direct costs. As at 31 January 2024, $1,733 (2023: $1,733) remained outstanding to the Trustee.

12. Debtors

2024 2023
$ $
Due within one year
Other debtors 24,729 -

Page 28

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

13. Creditors: Amounts falling due within one year

Bank overdrafts
Other creditors
Accruals and deferred income		 2024
$
-
1,733
62,145
63,878		 2023
$ 2,865
1,733
57,324
61,922

Page 29

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

14. Statement of funds

Statement of funds - current year

Unrestricted funds
General funds
Endowment funds
Endowment funds
Restricted funds
Investigative Grant Programme
Media Safety Academy
Media Risk Map
Total of funds		 Balance at 1
February
2023
$
87,113
-
-
-
-
-
87,113		 Income
$
422,793
780,000
242,053
49,286
49,000
340,339
1,543,132		 Expenditure
$
(683,383)
-
(242,053)
(48,542)
(22,900)
(313,495)
(996,878)		 Transfers
in/out
$
245,604
(245,604)
-
-
-
-
-		 Balance at
31 January
2024
$
72,127
534,396
-
744
26,100
26,844
633,367

During the year, restricted funds were received for the investigative grant programme, details of which are set out on page 3 of the Trustees’ Report and the Media Risk Map and Media Safety Academy activities, details of which are set out on page 5 of the Trustees’ Report.

Statement of funds - prior year

Unrestricted funds
General funds		 Income
$ 956,665		 Expenditure
$ (869,552)		 Balance at
31 January
2023
$ 87,113

Page 30

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Endowment Restricted Unrestricted Total
funds funds funds funds
2024 2024 2024 2024
$ $ $ $
Current assets 534,396 26,844 136,005 697,245
Creditors due within one year - - (63,878) (63,878)
Total 534,396 26,844 72,127 633,367
Analysis of net assets between funds - prior year
Unrestricted Total
funds funds
2023 2023
$ $
Current assets 149,035 149,035
Creditors due within one year (61,922) (61,922)
Total 87,113 87,113
Reconciliation of net movement in funds to net cash flow from operating activities
2024 2023
$ $
Net income for the year (as per Statement of Financial Activities) 546,254 87,113
Adjustments for:
Decrease/(increase) in debtors (24,729) -
Increase in creditors 4,821 59,057
Net cash provided by operating activities 526,346 146,170
Analysis of cash and cash equivalents
2024 2023
$ $
Cash in hand 672,516 146,170

16. Reconciliation of net movement in funds to net cash flow from operating activities

17. Analysis of cash and cash equivalents

Page 31

Docusign Envelope ID: 3ABA4775-91C9-4800-8CF6-333E2E17F7DC

JUSTICE FOR JOURNALISTS FOUNDATION

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 JANUARY 2024

18. Analysis of changes in net debt

Cash at bank and in hand
Bank overdrafts repayable on demand
Debt due within 1 year		 At 1
February
2023
$
149,035
(2,865)
(1,733)
144,437		 Cash flows
$
523,481
2,865
-
526,346		 At 31
January
2024
$
672,516
-
(1,733)
670,783

19. Grant commitments

The total grants committed to but not paid at the year end total $136,910 (2023: $200,000).

This commitment is made up of grants to both individuals and institutions which are payable upon the grantee meeting specific performance conditions as outlined in the grant agreements.

20. Related party transactions

During the year, the charity received a donation of $780,000 from Khodorkovsky Foundation, a company which Maria Ordzhonikidze is a trustee.

21. Post balance sheet events

Following the end of the financial year, the investigative grant programme came to an end in September 2024 and all outstanding grants have been completed. The Charity has since focused solely on attendance at conferences, lectures and seminars with similar charitable concerns and nongovernmental organisations, maintaining its media risk mapping function on its website and the provision of safety training for journalists. These activities only will continue for the foreseeable future.

Page 32