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 s￿le
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 agr￿d 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. en￿Urage 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 def￿11 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 a￿O￿ntIng 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 I￿land 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 b￿n 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 tnJsI￿ts 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$1ggally enlilled
to tha Income and th8 amount can be qualifi8d with reasonablè accuracy.
1.5 Expèndlture
ExpenditLtre is recognised 0￿8 there is 8 legal or conslruclive obligation to tr8nsfer economic benefit to a
third party, il is probable that a liansfer of aconomic benefits wlll be ￿qUIred In seltlemenl, and the amount of
lh9 obligation can be measured reliably.
Expenditure is classified by aclivlty. The cosls of each 8etlvlty are made up ol the lolal ol dlrècl coslg 8nof
share¢J costs. including support costs involved in undortaking ea¢h aclivily. Direct cost$ 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
Invest￿entS with original malurities of th￿e 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$ets. whi¢h include deblors and ¢a8h and bank balancos, are Inillalty m88sured al
transaction pri¢8 including transaction ¢osls and are 8ubsequently carried al amorlised cost using the effeetSve
Inlor¢¥l melhod unless the arrangtrmenl conslilules a flnan¢ing transactlon, where the transa¢tion Is
mtsasured at Ihe present V8luo of the lulure reeelpls disco￿nted at a market ralg of interest. Fbnancial assets
clgssified as r¢¢¢lvable wilhln one year are not amortised.
Baslc fln&n¢lo1 Ilabili¢les
Basic financial li8bililt65, including creditors and bank loans are initially reGogniseiJ al Iransa¢lion price ijnless
the arrang¢Fllenl constitutes a financing Ifansaclion, where the debt instrument is measured at tho pr88enl
value of Ihe future paymenls discounled al a markel rale of Intere81. Financial liabilities classified as payable
wlthln one year are not 8mortised.
Debt instruments are SLtbs8qu$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 re￿gnised 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 re￿1Ve￿ 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
comp1t￿r&
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 oL*l ol unrestricted lund$ by Ihe trustees lor specSflc PL*rpose$.
At 1 January
2024
Incomlng Resources
r•$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-