Charlty reglstratlon numbor 263783 {England and Wal•s} POPULATION INVESTIGATION COMMITTEE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ' xeinadin
POPULATION INVESTIGATION COMMITTEE LEGAL AND ADMINISTRATIVE INFORMATION Trustees ProlessorA Reid Professor E Gwndy Professor H Kulu Prolossor R Kashyap Mr S W Smallwood Professor T Leone Professor W sle Professor S Padmadas Dr. J M Aburto Dr B M Wilson IApptsinled 3 Decomb8r 2024} Charlty numbor (England and Wales) 263783 Audltor X¢inadln Audlt Llmilod 4648 East Street Epsom Surfey United Klngdom KT17 1HQ Bales. Wells and Brailhwall¢ Cheapside House 138 Cheapside London Greater London UK EC2V 68B 8ollcllors
POPULATION INVESTIGATION COMMITTEE CONTENTS Page Truslees, report Independent auditofs report Statement of financial a¢liviliès Balance sheet Nolés lo thè finJn¢i¥l $lalemenls 10-16
POPULATION INVESTIGATION COMMITTEE TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Tho Irusleos present Iheir annual reporl and financial slalemenls lor Ihg yaar ended 31 December 2024. Govèrnlng do¢umenl Th¢ charity is govemed by the Conslilulion registered by the Charity Commission on 23rd February 1972 and amended by an Extraordinary Resolution daled 14th April 1987 8nd approved by the Charity Comml8sion. Wilh lh8 approval of the Charily Commission, Ihe Constilulion was again amended on 14 October 2021, primarily lo limll Ihe terms of office of Iruslees. Trustees The Commllle& had len m&mb8rs at Ihe beginning of 2024, all of whom were Irusl6es. The Scholarshlp Commille8, which is constituted so that Ih&r8 is no conflict with inslilulion81 affiliations was enlarged lo three members. The trustees also Include a Teprèsenlalivg of Ihe Office lor National Slalislics & a represenlalive of tho London School of Economlcs. Wllh the new limg limils on maximum length of serwce for Iruslees. and under th8 Iransilional 8rrangem8nts, Professor Jan¢ Falkin9ham resigned as a trus188 at the 2024 AGM. Tfuslees have agreed lo giv¢ ono years noli¢e il they intend to resign before their terms expire. lo allow sufficient lime lo appolnl a sullablg replacement, who would be fully biSèfed on the role and fesponslbililles of a trustee before laking up Ihe rolo. New trust86s arè appointed on the resSgn8lron of an exisling trusleo, aftèr discussion between Ihe Iruslees on an approprialg Teplacemenl. should 51 be agrd that one Is required. Trustaa$ are always persons of rgpulalion and high standing In the population sludl8s fièld. New Iruslees are asked lo confirm that they are eligible and have a full understanding ol the ro18 018 Irustee before appoinlmenl and are Sent relevant Ch8rSty Comr¥Trission publications. On appoinlmonl, new Iruslees r8ceiv& an Inducllon pack, includlng lurthfyr Charity Commisslon publications on the fo10 Of a Iruslee, the previous yèar's Annu#l Reporl and Minules ol th8 AGM. logelher with lh¢ briofing prepared for the previous AGM. The General Secrelary of Ihe PIC Is available lo assist wlth any queries Ihal arise about Ihe resp<insibili1108 of a Iru81ee. At lh6 2024 AGM. il was agreed that Sabu Padamas be lrtviled lo join the Commillee and was 8ppolnled as a truste8 D8c8mber 2024. Commilte8 mgmbers and Iruslees ir) 2024 were.. Chair.. Professor Wendy Si9le (Population Siudies edilorl- vnlil 2028 Hon. Treasurer.. Professor Tizlana Leone (also representing Ihe London School ol Econownicsl Treasurer until 2027. Iruslee lo 2031 Dr José Manu61 Aburto- November 2023 to AGM 2026 {1onewable lo 2029120321 Profassor Jane Falkingh8m- unlll 2024, signed 31 O¢lober 2024 Professor Emily Gwndy- unlil 2027 Professor Rldhl Kashyap Ifrom October 2021 I- until 2031 Piolessor Hlll Kulu (Scholarship ComTnill881- unlil 2030 ProfèssorAlice Reid (Populalion Studies edilor. Scholarship Commi11g8 Chair}- 10 2026 Sleve Smallwood Irepresenling the Offica lor National Slalisli¢sl- lo 2025 Dr Benjamln Mi¢hael Wilson- October 2023 to AGM 2025 Irenewablg 10 202812031 Prolessor Sabu Padamas- unlil 2033 staff of Ihe Commlllee.. From January 2024 the PIC ielained ono mgmbel of staff, Helen Spriggs, the PIC General Secretary. This iolè manage8 the editorial office ol th8 Journal, assisls Ihe Edilor-in-chief and Editors of lh8 Jouinal, provides Secr&larial lor Ihe Brflish Sooiely lor Populalion Studies, and is responslbl8 for all adminlslrallve funclions in thè PIC office. Oblactlves and 4cllvltl•s
POPULATION INVESTIGATION COMMITTEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Thè main objectives of the Commltlee arg lo promote the Iraining of d8mographers in the UK. enUrage rosearch In the field ol populalion studies and lo dissominale the results to as wd8 an audience as posslble. The Commillee has releriad to the Charity Commission's general gLtid?nc8 on public benefit when revlewlng its aims and objecllves and In plannlng Ils future activities. To fvlfil its objectives. Ihe Commllle8 owns a journal. Populallon Sludles, whlch has a worfd-wlda clrculalion. This Is publlsh¢d and dislribul6d on behalf of Ihe Commillee by Roulledge JournalsThaylor and Francis Informa, although the editors relain compl8t8 editorial control. The Committee awards scholarshSpg for poslgraLtuale training in populalion $ludie$. ¢urrenlly Iwo lo Ihree per year, and gives oecaslonal Special granls lor lurihering detrographic knowledge. The Commlllee supports the Britlsh So¢lety for Populallon Studles by providing the Society's secretarial and, again in 2024, by maklng a gr3nl of £12.000 towards the running cosis of Ihe secret8ri8t. Thè BSPS is a reglstered charily Inurnb8r 2861611, which also aims lo disseminal¢ information on population sludies rosearch. The JourrTral is on an Indefinite rollinu contract with Taylor & Fi8n¢i8llnfoTma, with a break clause èvèry 3 years given approprlate noli¢o. th8 118x1 of the88 being at thè end of 2028. The medium to long Igrm fvlure of hybrid louinals r&maln$ unclear. Tho Editori81 Board oflhe Joumal is shown w. Proftsssor John ETmisch IEdSlor-in-Chlefj Or José Manuel Aburto Professor Francesco C. Billafi Professor John Cleland Piofessor Andrew Fosler Professor Hill Kulu Professor Tom Moultrie Professor Brlenna Peielli.Harr¢s ProfessorAlice Reid Piofessor Wendy Sigle Professor Ronald Skeldon DrAlyson van Raalla 11 is anlicipated Ihal the Commltiee, in pursuit of118 objtscliv88 and alms, will conllnue to publish thtr Jouinal for tho foreseeablè future, and will continu& to support BSPS. Grant maklng pollcy The Committee aims lo vlilise surplu5 incomè from currenl and prgvious years to award an annual grant lo Subsidise the secr6larial of the Blltish Socialy for Population Studlos. In 2024 & 2025 th8 Commillee will continue lo support the poslgraduale sludy ol demography via the scholarship scheme. Rlsk managemènl The major rlsks lo which the Chorlly 18 exposed. as idonlified by the Trustees, have been rev18wed, and systems have be&n established to mlligale those risks. A stralegy for deallng with residual rlsk has been devlsed. The risk management poficy an¢J Ihg risk register ere reviewed annually by the Truslees 81 the Annual G9rieral Meeting. Publie benefit The Irltstees have paid due regaid lo guidance issued by the Charity Commission In decidlng what acllvllies tho char*ly should undertaka.
POPULATION INVESTIGATION COMMITTEE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achlevomants and p8rforman¢e SignifiGant aclivifies and achievements against objectiv Thg financial slatemenis set out on page$ 8 10 16 summarise the Iransacllon8 of ihe Chafily during Ihe year endod 31 December 2024. Income from Taylor and Francis de¢reasod by £4.582 from the prevlous year. Thè editorial office oxponses payment from Taylor & Francis MaIned Ihg sam8 as the previous year. The annual JSTOR royalty decreasgd by £155, primarity rellocling tha èxch8ng8 rale al the lime ol paymgnl. Investment income increased by £1.103 due lo the gen&r81 Incrèasè in ifileresl rates. Three masters scholarships werè awarded In Ihe year. hvo for students al Southampton and one for a studer)l al LSE. Expenditur& w88 lightly conlrolled, a5 ever. Npl oulgoing r6souices before revalu81ion of tho COIF shares showed d&f1¢11 of £11.967 on the General R¢sorv8 (Including the editors, discr8tlonary lundl. Freelance copyedilin9 C08ts, which are the largest èlem8nl of editorial expenses. de¢re8s¢d by £2,906. Overall expendllure illcrease(J by £26,109 on th8 prfjvlous year. Thgro was an unrealised gain on Ihe value of thè COIF shares al the end of tho yfjar of £2,227 12023.- loss ol £8,424). The ovgrall def11 on the year, after recognising the unrealised gain on the value ol the shares. was £9.740. The Commillee inygsts ils funds wilhin Ihe parametors Sel out in ils Conslilvllon. Income shares in the Charill&$ Official Investment Funds aro included, with a value al the beginnlng ol the year of £98,586 loriglnal purchase price £49,580). The market valu8 of lh8 shares on 31 December 2024 was £100,813. Flnanclal revlew ResgNe$poII¢y The Commi1188 needs reservas to mlligale the impacl of any lulure loss of incomè fiom Ihe publicatlon of tho Jouinal. The resorves policy did not change In 2024. Based upon on fystsmale of the expènditure for 2Q25, the level ol reserves requirtd was £129.000 1£127,000 in 20241. Free reserves sland al £230.795 al 31st DeGember 202412023.. £240,535), with the decrease being the resull ol 8 deficit budget agreed by tha Commille8 lo facilitat¢ rolurning lo three scholarshlp awar(Is in Ihe ygar.. Reserve5 may stabilise as charitablè èxpenditure is sel each year al a manageabl@1gvel above anll¢lpaled income. Bllhough allowance is alsv made lor an increase in the valug ol the COIF sh8r8$. Funds Curronlly. Ihe Commllle8 reta¥ns an unreslriot8d lund, the General Fund, which covers mosl oulgolngs. Al th6 8rKI 012024, the single re8lricled fund, established in 2009, has a nil balanGg. During the year the Iruslees deeidBd lo Iransfer a balance of £10,000 lo another deslgn8ted fund for wldei d94llogiaphy granls. The Editors, discrelionary fund is for u$8 by the Journal as Ihe editors decide. The General Fund represents Ihe accumulated surplus from publishin9 activlllÈ$, and all In¢omlng resources olher than restrictèd and Minate[l fund8 aTe paid into thls. Structur•i gov¥rnance and managèmenl
POPULATION INVESTIGATION COMMITTEE TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Professor A Roid Professor E Gwndy Prolessof H Kulu Profe3sor J C Falkingham Prole350i R Koshyap Mr S W Smallwood Prolg$$or T Leone Professor W Siola Pro1&s50r S Padmadas Dr. J MAburto DI B M Imlson (Retired 31 O¢lober 20241 IAppolnled 3 December 2024) Recnillnionl 8nd 8ppolnliiioiit ol Iruslees Slatomoiit of trust•9s' ttrsponslbllltles The Iivslee$ are respvn$ibltr for preparing Ilie Tw8lees' Report and the Ilnancl81 statements in a¢[dancè with applicablg law aiid United Klngdom Accounling Sfandaids (United Klngdom Gen*r8lly Accepled A¢¢ounling PraclKe). The laiv applicable Ici charilies in England and Wales requires the liiislees lo preparts fjn8ndal slalemonls loy each financial yeaF Yihlch give a liue and falr view ol Ihe 51ale ol affairs ol Ihe charily and ol the Incoming r&soui¢es aiid applicalion ol re80Ufce¥ of Iho chaiily loi Ihal yeai. In preparing these financial slal&menls, Ihè Iwslees are quired to.. select sullable accovnling policics arid then apply them ¢onsislenlly'. observe Ilie melhrids and plinciples in the ChariliES SORP., make judgements and esllmalos Ihgl arts reasonable and prudenl.. stale whell)er applicable accounllng standards have been followed, sublecl la any materi81 depailures disclosod and èxplain8d in Ihè financial slalemenls.. arsd prepare th? finaiielal slatenieals 011 the goiny concern basis unlès5 It Is InapproprSale lo presvme 11)al the charlly wlll conllAue in operalion. Thè Iruslees are responslble lor keoping sullldenl aOntIng records Ihal disclose willi roa8OT)able 8wuracy 91 any time the IiTranc481 posilion ol tho ¢h8Fily and Bnable IhBrn lo ensure Ihal the financlal slalemenls comply i'iilh Ihe Charillès Act 2011. the Charity (Accounts ancs Reports) Regulallons 2008 and tho provisions ol Ihg Irusl deed. They ar8 also r95pon51b18 for 5afe9uarding Ihe as5els ol the tliaiily and henco for taklng reasonable steps for the prevenlS0Tr and doloclion ol fravd and other Ii¥egvl&r¢liv8. Prolessor T Leone Pioless gle Dale..
POPULATION INVESTIGATION COMMITTEE INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF POPULATION INVESTIGATION COMMITTEE Oplnlon We have audlled Ihe financial statements ol Populallon Investigation Commillee Ilhe 'charity'l for the year ended 31 December 2024 which comprise the slalemenl of flnancial aclivilies. the bal8nce sheet and notes lo the financial stalemenls, including significanl accounting policies. The financial reporting fr8m8work Ih81 has been applied in Ihelr preparation is appllcable law and United Klngdom Accounting St8nd8rds. including Financial Roporting Standard 102 Th6 Financial Reporting Stand8rd applicable in the UK and R&public of Iland Iuniled K*ngdom Generally Accepled Accountin9 Practic61. In our opinlon. the flnancial slalem8nls'. give a true and fair view ol th8 Statè of the charity's affalrs as 8131 December 2024 and of Its incoming resources and application ol iesourcas. for the year then ended.. havè been properly prepared In accordance with Uniled Kingdom Generally Accepted Accounting Pfactlce.. end have bn prepared in 8c¢ordan¢e with the ChaFllles Act 2011. Basls for oplnlon We conducted our audll In accor¢Jance wlh InleTnalion81 Slandards on Auditin9 IUKI IISAS {UKI} and applirAble law. Our ¥e8ponsibililies undef those stAndard8 are further described in the Audilorfs responsibilitigs for Ihe audil of the fin?nclal sl&l¢mgnls Section ol our weport. We are independent of the charity In a¢vdanCe with tho olhi¢al requirements that are relevant to our 8tsdil of the financlal slaletHonls in the UK. incltsdlng the FRCS Ethical standard. and w8 hav8 luifillod our other ethical responsibilitie8 in accordance wllh th98e requirements. We believe that the audit evidence wa hava oblalned is sufficienl and approprfale lo provide a basls for our opinion. Con¢lu$lons relatlng to golng ¢oncgm In auditing the financial slalom8nts, w8 have concluded that th8 Iru8le85' use of Iho going concein basls of accounting in the prepgralion of the financial slalemenls is appropriate. Baseil on the work we have perfomièd, we have nol Idenlifred any material uncertalnlies Telaling lo evenl8 or conditions Ihal. Indivrdually or collectively, may cast significant doubt on the ch8Tlty's ability to ¢onlinue as a going concern for a period of al leasl e1ve months from when Ihe financlal slalemenls arg aulhorised for iSSUfj. Our responsibilities and the responslbililies of the Iruslees with respecl lo golng concern ar8 described In the relevant sections ol this report. Other Informatlon The other Information comprlsg9 th8 inlormation included in Ihe anntsal report olh8r Ihan Iho frnanclal stalomenls and our auditoffs roport Ihereon. The Irusloes are responsible for the other informalion contained within the annval ieport. OLFr oplnion on the financlal Slalements does not covar the other Irblormalion and we do not express any form ol assurance conclusion Ihereon. Our responsibility is lo read Ihe other infomialion and, in doing so, consider whelhtsr the other informatlon is materially incon5151enl with Ihe finan¢ial statements or our knowledge oblalr)ed in the course of th¢ audll, or otherwise appears lo be materially mlsstaled. If we identify such malerlal inconslslencles or apparent motorial misslalements. wo are required lo dèt8rmine whether this gives risè to 8 material m158tstement in Ihe financial statements themselves. 11, based on the work WB have performed. we conclude that Ih8r& Is a material misslalemgnl of Ihls olhar inlormatlon, wo are required lo repoTi Ihal lad. We hove Tr)Ihing lo report in this regard. Motters on whlch we arè Yoquired to r4port by ¢x¢eptlon We h8ve nothlng lo report in r8specl ol the following mallers in relallon lo whi¢h the Chari118s (Accounts and Reports} Regulations 2008 requires U5 lo report lo you if, in our opinion.. the information given in the finaneial slalemenls is inconsislenl in any material rospecl with the Irusleg8' report.. or sufficient accounllng records have not been k$pl', or ihe financial statements are not in agreemonl with Ihè 8¢counling cOrdS,. or we have not recei all Ihe ink)miation and explanallons we require lor our audlt.
POPULATION INVESTIGATION COMMITTEE INDEPENDENT AUDITOR'S REPORT {CONTINUED} TO THE TRUSTEES OF POPULATION INVESTIGATION COMMITTEE Rosponslbllllles ol trustees As gxplalned more lully in the statement of Iruslees, r8sponsibililies. the trustees are responsible ff)r the preparalion ol the financial stalemgnts and for belng satisfied that Ihey give a true and falr view. and for such internal control as Ihg trustees dotermlne is necessary lo enable the preparation ol linancial slalemenls th81 are free from material misstatement, whelher due to fraud or error. In preparing the financial slatemenls. tho Iruslees are responsible for assessing the charlly's ability lo continue as a going COTi¢ern, disclosing, as applicable, mallers Telaled lo going conc8m and uslng Ihe going ¢oncern basis of a¢¢ounling unless the tnJsIts either intend Io e&8S8 OPor8lion5, or hava no realistic alternative but lo do so. Audltorfs r•spon$lbilÈlies for thg audlt ol th8 flnanclal $tatemonts We have been appointed as audllor under secllon 145 01 the Charilies Acl 2011 and report in accordance with Ihe Act and relevanl regulalions mada or h8ving affect Ihereunder. Our objgctlves are lo oblain reasonabl8 assurance about wh8lh8r the financial statements as a whole are fre8 from material misslatemenl, whether due lo fraud or error, and lo issue an audilorfs r9POrt that includes our opinion. Reasonablg 8ssuran¢a 1$ a high level ol assurance bul IS not a guarantee that an audit conductad In 8¢¢OTdanc8 with ISAS (UK) will always delecl a material misslatemenl when il exists. Misslalempnls can arise from fratjd or error and are conslderod malorial if, individually or in the aggregate, Ihey could reasonably be expected lo Influence the eeonomlc d8cisions ol users laken on the basis of these financlal Slalemonts. The extent lo whlch our procedures are capablg ol delecling irregularltles, includlng fraud. is dèla11 btrlow. Idenltrfy and assess Ihe risk of material misslalem8nt ol thè financial stalemonls, whether due to Irgud or error, design and perform audit procedures responsivo lo those iisks, and obtain audit evidenc6 that is sufficient and approprlal8 to provide a basis for ouc opinion. The risk ol not d8te¢tlng a malerial misslalemenl rèsulting from fraud is higher than IOT one resulting from error. as fraud may involve llUSiOn, forgery. inlenlKJnal omi88ions. misrepresenlations or lh8 override of internal wnliol. Oblaln an understanding of Internal conlml relevant lo the audit in order lo design audit procedures that are appropriate in the circumstances, bul not lor the purposes of expressing an opinion on Ihe effecliveness ol the charity's internal control. Evalu81e the approprialengss ol 8¢cour¥ling policies used and the reason8blene55 of a¢wunling estsma¢8$ and the related dis¢losLtres mada by the Iruslees. Concludg on Ihe approprialgngss ol the Iruslegs, use of the going con¢èm basis ol accounting and, based on Ihe audit èvidence obtained. whether a material unceriainly Bxi8ts related lo evenl or conditions that may 81 slgnificanl doubt on tho Charity's ability to IX)nlinue as a going concem. 11 we Conclude Ihal a material uncertainty exi818, we ale fequired to draw atlenlion in ovr audS(or$ report to the related disclosvro Iri the financial Slalemenls or, il such dis¢logures are inadequate lo modify our opinion. Our conclusions are based on the audil evidence obtained up lo the dal8 of our audilorfs repori. However. future events or condiliorbs may cause Ihe company lo cease lo continue as a going concern. Evaluate the over811 pre3entalion. structure and conlenl of th& financial slatemenls, including Ihe disclosures, and whether the financial statements represent Ihe underlying Ir8nsaclions and ovenls in a manner that 8¢hieves fair presgntslion. A further descriptlon of our responslbililies Is available on the Financial Reporting Cf)uncil's website al.. hltp8.'11 W*VW.frc.or9.ukl8udilorsr¢5pon8ibilities. This d8scriptson forms part ol our audiloV8 report.
POPULATION INVESTIGATION COMMITTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF POPULATION INVESTIGATION COMMITTEE Uso of our report This wptsrtls madp solely lo lh8 charity's trusl¢es, as a body, in accordBnce with Part 4 of the Chaiities IAGcounls and RÈport81 Regulations 2008. Oui 8udSt work has been undertaken so that we might stale lo Ihe charity's Irusloos those mallers we are required lo slal6 lo them in an auditor's report and lor no other purposo. To the lullest exlenl pemiilted by law. wè do not accept or assume responslbllily lo anyon& other than the chafily and the charlly's trustees as a body, lor our audit work, for this report, or for the opinions we have formed. Haz81 Day BS¢ (Hons) FCA DChA (Senlor Statutory Audltorl For and on behall ol Xeinadin Audit Limited, SlaluloryAudilor Chartered Acoounlanls 4648 Easl Slreel Epsom Surrey KT17 1HQ Uniled Kingdom
POPULATION INVESTIGATION COMMITTEE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unre8trlcted funds 2024 Unro*trl¢tod fund8 2023 Notes Income from.. CharSlable ac14vilies Invèslments 118,070 7.562 122,807 6.459 Total Income 125,632 129,266 Expondlture on: Charilable activitias 137,599 111,490 Total expendlturo 137,599 111.490 Nat galnsl(10s8esl on inveslmenls 11 2.227 8,424 Net Incom61{expendltur¢l and movement In funds {9,7401 26,200 Reconclllatlon of funds: Fund bglan¢e3 al 1 January 2024 240,535 214.335 Fund balan¢93 at 31 Decemb8r 2024 230,795 240.535 The statement of financial acllvilias In¢ludès aN gains 8nd10sses recognised in lh8 year. All income and exp8ndilurg derive from conlinuing aclivili88.
POPULATION INVESTIGATION COMMITTEE BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Notes Flxod aBsels Tangible assels Inveslmenls 13 14 864 100,813 98,Jf86 101.677 99,738 Curront assets Doblors Cash ?1 bank and in hand 15 53,877 111,765 39.657 143.828 165.642 183.485 Cr¢ditors: amovnt$ falllng due wlthln onè yoar 16 136,5241 142.6881 Not current assots 129.118 140,797 Total a$ÈÈl$ less currenl IlabllltJo$ 230.795 240.535 The funds ol th• ¢horlty Unresliicled lunds 17 230,795 240.53 230,795 240,535 The finandal $18lemenls weiè approved by the Irusle¥s on Pio ès$or T Leone Professor Igle
POPULATION INVESTIGATION COMMITTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollcle8 1.1 Accounllng convfjntlon Tho financial st818m8nls have been prepared In a¢¢ordan¢e with the charity's gov8rnlng document, th& Ch8rilies Act 2011, FRS 102 'The Flnancial Reporting Slandard applicable In the UK and Republic of Ireland. and Ihe Charities SORP 'Aceounting and Reporting by Charilio5.' Slalemenl ol Recommended Pr8Ctiea appllcable to charities prèparing Iheir a¢counlB in accordance with the Financlal Reportin9 Slandard applicable In the UK and Republic of Ireland IFRS 1021. The charity Ès a Public Benefit Entity as defined by FRS 102. Th8 charily has laken adv8niag6 of Ihg provisions In the SORP for chartlies nol to prepar8 8 ststgmgnt of cash Ilows. Thg financi81 st8t8menls have departed from the Charitses IAccounls and Reports) RegulAllon8 2008 only lo th8 extent required lo provid8 a truo and f81T view. This departure has involved following the St8tem8nt of R8commènded Pracllcè for charities applyin9 FRS 102 rather than the version ol the Stglemenl of Recommended Practice which is r&férrod lo in Ihg Regulations bLtI which h8s sincè been withdrawn. The finan¢ial slalemenls are prepared in sterling, which ig the fun¢lional currenoy of Ihg charfly. Monelary amounts in these financial slalemenls ar8 rounded lo Ihe nearest £. The financial sla£em8nls have been prepared under Iho historical cost convention, Imodlfied lo include the rev8lualÉon ol freehold properties and lo Includtr investment properties and rtain financial instruments 81 fair valuel. The principal accounllng policles adopted are set out bolow. 1.2 Golng concern Al the limB of approving Ihe financial slalem8nls, the Iwslees have a reasonable expectolion that the charity has adeqLtate fOSOtJr¢es lo conllnue in opeTational exlslen¢8 for the foreseoablè lulure. Thus the trusl¢8S nlinue lo adopt the going concern basis ol accounting in preparing the financial slatemenls. 1.3 Charltablg fund8 Unrestricted funds are available for use al the discretion ol the Injslees in furtheran¢g of Iheir charilablg objectlves. Reslricled funds are subject lo specific condillons by donors or 9ranl¢N5 a5 to how they may be used. Th purpos8s and uses of Ihe reslrlcled funds are sel out In the nole3 to the financt81 st81ements. Endowment funds are subl8¢1 lo Specif condlliow18 by donors that Ihe capital musl bfr malniained by the charity. 1.4 Income All Incoming resources 8r8 Included on the Slalem8nl ol Financl81 Activities wh&n the charily l$1ggally enlilled to tha Income and th8 amount can be qualifi8d with reasonablè accuracy. 1.5 Expèndlture ExpenditLtre is recognised 08 there is 8 legal or conslruclive obligation to tr8nsfer economic benefit to a third party, il is probable that a liansfer of aconomic benefits wlll be qUIred In seltlemenl, and the amount of lh9 obligation can be measured reliably. Expenditure is classified by aclivlty. The cosls of each 8etlvlty are made up ol the lolal ol dlrècl coslg 8nof share¢J costs. including support costs involved in undortaking ea¢h aclivily. Direct cost$ 3llThbutable lo a singjo activity are allocated directly to that aclivily. Shared costs which conliibule lo more Ih8n one activity and support costs which are not atiribulable lo a single activity are apportioned between Ihose activities on a ba81S Consistent with lh¢ use of resources. Conlral staff costs are allocated on tho basis ol Ilm8 spgnl, and (fepre¢ialion charg98 are allocated on the portion of the 4ssel'8 use. 10-
POPULATION INVESTIGATION COMMITTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Ae¢ountlng pollcl•s {Contlnu0dl 1.6 Tangiblg fix¢d as$gts Tengible fixed assèts ar$ initially measured al cosl and subsequently meaSLtTeit al cost or valuation, nel of dèprèclatlon 8nd any impairm8nt losses. Depreciation is fecognised so as lo write off the ¢osl or valuation of assets less thelr residual values over their seful lives on the following bases.. Computers 200k $118ighl lin The gain or loss afising on th8 disposal of an asset is determined as the (Jlfference between the sale proceeds and the carrying value of th8 asset. and is iecognised in tho sl&lemenl of financial aclivilies. 1,7 Flxed asset Inveslmonts Flxed 8ss61 investments are initially measured al transaction price excluding transaction Costs, and are subsequently measured al lair valu8 at each reporting dale. Changès IA fair value are recognised In net incomellexpendilLtrel for Ihe year. Transa¢tton 81$ ale exp8nsed as incurred. 1.8 Cash and cash oqulvalents ash and ¢ash &quivalgnls include sh in hand, deposits hèld at c411 with banks, other short-tom liquid InvestentS with original malurities of the monlhs or less, anol bank overdrafts. Bank ov¢idraft8 are shown within borrowings in current liabllilles. 1.9 Flnanclal In¥trumenl$ Th& tharily has glected lo apply the provisions of Secllon 11 'Basic Financi81 Instmmenls, and Section 12 'Olher Financial Instruments Issu8s' of FRS 102 to all of Ils flnaneial inslrum8nls. Finanthal irbsliuments are rocognlsed In thè charivs balanco sheet when the charily becomes party lo th8 conlrA¢lual provisions of the inslrumenl. Flnan¢l8198881s and liabilibes are offset. wllh the nel amounts presenled the financial sialeménls, when there is a legally gnforce8bl8 right lo sel off the recognised amounts and Ihore is an Intention IL) Sattlo on a nel basls or lo reali5e th8 assgt and sellle (he li8billly slmultsneously. Baslc flngnclal assets Basic financial 8s$ets. whi¢h include deblors and ¢a8h and bank balancos, are Inillalty m88sured al transaction pri¢8 including transaction ¢osls and are 8ubsequently carried al amorlised cost using the effeetSve Inlor¢¥l melhod unless the arrangtrmenl conslilules a flnan¢ing transactlon, where the transa¢tion Is mtsasured at Ihe present V8luo of the lulure reeelpls disconted at a market ralg of interest. Fbnancial assets clgssified as r¢¢¢lvable wilhln one year are not amortised. Baslc fln&n¢lo1 Ilabili¢les Basic financial li8bililt65, including creditors and bank loans are initially reGogniseiJ al Iransa¢lion price ijnless the arrang¢Fllenl constitutes a financing Ifansaclion, where the debt instrument is measured at tho pr88enl value of Ihe future paymenls discounled al a markel rale of Intere81. Financial liabilities classified as payable wlthln one year are not 8mortised. Debt instruments are SLtbs8qu$nlly carried al 8mOrti8ed cost, lJ8ing the efleclive inleresl rale mglhod. Trade creditors are obligations lo pay for goods or services Ihal have boon acqLtired in the oidinary course of operallons from suppllers. Amounls payable are classified as current liabililles il payment is due within on8 yaar or less. 11 noi, they are presented as non-currernl liabililies. Trade creditors are regnised Initial al Iransactlon price and subsequently measured at amortised cost Using tho effectiv8 Snlerèsl method. 11
POPULATION INVESTIGATION COMMITTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng pollcles Iconllnuodl Derewnllion of linanclal Il&bllltlOS Financial liabilities are dere¢ogn18eéJ when the charily's conlraclLtal obligations èxpire or are dis¢harged or cancelled. Crltl¢al a¢¢ountlng esllmatès and ludg&m•nts In th6 8ppli¢8tlor) ol thè charlty's accounting policies, the Iruslees arg roquirèd lo make ludggmanls, estimates and assumptions about the cafrying amount ol assets 2nd Ilabililies that are nol readily apparent from other sources. The 8sllmat88 and associated assLtmplions are based on historical experience and other foctors that are considèred lo be relevant. Actual re8ull3 may differ from Ih8S8 astlmatès. Th8 estimates and undarlylng assumption5 are reviewed on an ongoing basis. R8vl$lons lo accounting esllmales are re¢ognl8ecl in the period in whlch the e$limale is revised where the rèvision aNecls only that period, or In the peTiod ol the revislon #nd future periods where tho r¢vlslon affects both current and lulur6 periods. Incomè from ¢harllable actlvltles Unrestrlcted Unr¢gtrl¢ted funds funds 2024 2023 Royalty Incomo from Research Publlcatlon$ Royalties 118,070 122.807 Incom$ from Inv•¥lmenl8 Unreslrlcted Unrestrlcted fund¥ fund5 2024 2023 Olher income 7.562 6.459 12
POPULATION INVESTIGATION COMMITTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expèndlturo on charllabl& a¢tlvltl•¥ Populatlon Studi•s 2024 Grants payablfr 2024 Total Populatlon Studies 2023 Grants payabl 2023 Total 2024 2023 Dlro¢t ¢osl$ Staff costs Deprecialion antt imp8irmenl Edilorial expense8 an¢J lees General 8xpensas Telephone Printing. postage 8nd slationery Insuran¢8 40,087 40.087 30,090 30,090 288 288 288 288 32,932 1,384 32,932 1.384 35.837 488 86 35,837 488 86 421 497 421 497 448 453 448 453 75.609 75,609 67,690 67.890 Grant funding ol actwities (see noto 61 57,000 57.000 42.OQQ 42,000 Sharè of support and governanc8 ¢osls l$e& note 71 Support 4,990 4.990 1,800 1,800 80.599 57,000 137.599 69,490 42.000 111.490 Analysls by fund Llnreslricted funds 80,599 57,000 137,599 69,490 42,000 111,490 Grants payabl• Grants payablé 2024 Grants payabl 2023 Grants to Inslilulions.. Brilish Society lof Populatlon Studies 12,000 12.(KJO Grants lo indlvlduals 45.000 30.000 13-
POPULATION INVESTIGATION COMMITTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support ¢ost$ allocated to a¢tlv511es 2024 2023 Gov8mance cos13 4.990 1,800 Analysed betwe8n.' Population Studies 4.990 1,800 N¢t movement In fund$ 2024 2023 The nèt movement in funds Is sl8led after chargingllcreditingl= Fees payable for the audil of tho charity's financial statements Deprec5atlon ol owned t&nglble fixed asse18 2,500 28B 1.800 288 Tru8t•es Nong ol tho Irusloes lor any p8rsons connected wilh thernl re1Ve any remuneration or benefits from Iha charily Ifuring the year. 10 Employees The aver8ge monlhly number of employees during the year was- 2024 Number 2023 Number Employment co¥ls 2024 2023 Wa90$ and salaries 40,087 30,090 Thère were no employees whose arsnual iemuner8llon wa5 more than £60,000. 11 Galns and los#as on Investments Unrestrlct¢d Unrestricted funds fund$ 2024 2023 Gainslllos8es) arisin9 On.. Revaluation of inveslmenls 2,227 8.424 14-
POPULATION INVESTIGATION COMMITTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Taxallon The charily is exempt from laxallon on its aclivilies be¢ause all its incomg Is applled for ¢harilBble purposes. 13 Tanglblg flxgd assets comp1tr& Co$t Al 1 January 2024 2.073 Al 31 December 2024 2.073 Depr•clatlon and Impalrment At 1 January 2024 0gpre¢ialion charyed in the year 921 288 Al 31 December 2024 1,209 Carrylng amount At 31 D8cgmb8r 2024 854 Al 31 December 2023 1.152 14 Flxèd asset Investments Llsted investments Cost or valuatlon Al l Jariuary 2024 V8lu8llon changes 98.586 2.227 Al 31 December 2024 100,813 Carrylng amount Al 31 December 2024 100,813 At 31 De¢¢mber 2023 98,586 15 Oebtors 2024 2023 Amount¥ falllng du& wlthln on• year.. Other debtors 53,877 39,657 15-
POPULATION INVESTIGATION COMMITTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 CredllorJ: amount8 falling dua wlthln ono yéar 2024 2023 Other creditors 36,524 42,668 17 Unrèstrictgd fund¥ The unreslricled funds ol Ihe charity comtNi8e the unexpended balances ol donations and grÈnl8 which are not subject to spe¢ific conditions by donors and sranlors as lo how they may be us¢d. The58 include deslgn81ed funds which have been sel aslde oLl ol unrestricted lund$ by Ihe trustees lor specSflc PLrpose$. At 1 January 2024 Incomlng Resources r•$ources expend•d Galns and losses At31 Decembtsr 2024 General Fund Editors, discrelionary fund Demography Grant lund 225,074 15.461 112,632 3,000 10,000 1137.5991 2,227 202,334 18,481 10,000 240,535 125.632 1137.5991 2.227 230.795 Prevlous y8ar'. At l January 2023 Incomlng r•sour¢e¥ Rèsources oxpend8d Galns and 108SBS At31 Doeèmber 2023 General Fund Editors. discrellonary fund 201,874 12,461 126,266 3,000 {111,4901 8,424 225,074 15,461 214,335 129,266 1111,4901 8.424 240.535 Edltors. Olscretlon8ry Fund This fund represents monles lo be used al the dlscrèlion of the e<filors of the Journal. 11 does not cover the Costs of copyediting 8S8lslance for re9ul8r issues of the Journal but may be used lo offset th6 CO8ts of supplements or special issues. There were no changes lo Ihe fund during 2024. Dèmography Grant Fund This fund represents monies lo ba used al the discraiion of th? tru81ees for wlder demography related grant giving. During the year the Iru81ees agreed lo transfer £10.0(10 inl this ftjnd. 18 Relatéd party tranga¢tions There wère no dis¢los8bl8 Telated party Iransactlons during the year12023- non&l. 16-