PUBLIF INFEREST RESEARCH CENfRE LIMtTET) FINANCL4L STATEMENfs FOR THE YEAR ENDED 31ST DECEMBER 2024 CONfENfs AND COMPANY tNFORMAIION CONs.. PAGE Directors, Report Auditors, report Statement of Financial Activities BaI8n¢e Sheet Statement of Cash FICPWE Notes to the Financial Statements 10-15 DIRECTORS.. E Andrews RLuff T Hyatt N Ak¢hurst C Magee L McKay D Hebron (apwinted 6th March 2024 resiglled 2nd April 2025) SECREfARY: A jaett REGISTERED OFFICE.. YPl&s Ma¢hJnlleth Powys SY20 8ER REGISTIL4TION NLTrIBER.. 1112242 CHARrfY NUMBER.. 260446 The Co-operattve BaDk PO Box 200 Delf House Southway SkelmeTSe WN8 6GH Triodos Bank UK Ltd Bristol BSI SAS AUDrroRS.. Prentis & Co tLP Chartered Accounthnts & StatuioryAllditors 115¢ Mllton Road Cambridge CB4 IXE
PUBLIC INTBRESI" RESEARCH CENTRE LIMITED PAGE I FINANCIAL STATETs FOR THE YEAR ENDED 31ST DECEMBER 2024 REPORT OF THE DIRECTORS Th¢ directors present their report and the fin8n¢ia] statements for the year ended 3Est Detember 2024. The financial statements comply with the Ch3n'tie5 Act 2011, the Cornpanies Act 2006: the Melllofdndum and Articles of Associatioll, and Afjcounting aThd Reporting by Charities: Statement of Recommended Practice applicable to dritieS preparing their accounts in accordance witb the Financia] R¢portiDg SwLdard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st J8nuary 2019). STRUCTURE. GOVERNANCE AND MANAGEMENr The Charity is constituted as a company limited bv guar&ntee, and is therefore governed by a Memornttdum and Arti¢l¢$ of AssoLi&lion. li is registEred a5 t charity with the Charity Commission. tn the event of the comp8ny being wound up the liability of the e[rnbers is Limited io £1. On 28th February 2020 the Articles of Aswciation were updated to britLg thern into line with the Companie5 Act 2006 alld allow for rernO ]neetin85. APPOINTMBNf OF DtREcfoRS The Board of Directors h&s the power to appoiut addt¢ional members. DIRECTORS TRAINING Direcitsrs of the ¢h8rity keep th¢ir knowledge of the cbarity sector up to date as necessary. The company 5¢cretary briefs them at regular lntrrvS on activity. tn the event of new directors being adtnitted th¢ ¢hortty, th¢ directors would ensure that they had a suitable induction PTOBeg5. ORGANISATION I'he Charity is organised so thai the dirEctor5 rnEet when required (curr¢ntty on a quarterly basis) to oversee ihe adminiStr10n of the Charity. The objects are attained with the services of six part time project staff and r¢scarch¢rs who utili5e the funds & needed to carrv out planned reseCh. There have been no changes ID the w)licies adopted to achieve the charirable objediveÈ during the year. RISK The directors keep the areas of risk der re)eW artd it is on the agenda for their meelings. OBJECTS AND AcfIviTIES The Charity's object is to research the organisation and a¢tivity' of governmenL industy, business, trade, the professi(ms and lh¢ services and to ass¢ss their impact on the environment and life of the eommunits and to make the result of 5u¢h research available to and for the bEELefit of the public. Its polici¢s in crning out the objects remait) unchanged. ACFllEVE.MENTS, PERFORMANCE FirruRE DEVELOPME.Nrs In 2024 WE have continucd to support those wOlti8 on climate, s0¢ial, racial and en01¢ justice to research and Strciwhen the slories ihat unite us. Thi5 year we continued wÈth our new cross-issue movemenl-building narrative strategy. Strategy Building our liarratiye Power: In 2024 we ran the rst iteralion of Building Our NaTrative Power (BONP), a year-lollui cross- issue leadership development and res6arGh prograrnme for 16 conunUnicato with jived experieD¢¢ of the issues thcy are working on. Throughout 2024, via two week long residentials dnd oll]ine seminars, M'e deli%'ered ivorkshops Coer]ng namtiv¢ mappin audi¢nce ih¢ory & strnt¢gy, me&saging basics. narrative Strategy creatiOTJ including research & practical applications, and how to engage with audiences outside of on¢'s regular supporter b. In collaboration strategic narrntive eyperts at Frameworks Institute. we IcKbked itito s(Kietal beliefs and ]nindsets. The progrdmme continues into 2025 with mentoring a[ supw¢ for the participants as they apply the knowledge in tl)cir own Demoeratislng Narrative Trdining: We began work on the first one-stoFshDP resourc£ library of narrative and fTaming resources in the UK and created and ran two naalIve change online COUTS¢& Online tr2ining: We published and prepared a new iDtuaction of our online course. Getting Started with NaTrative ChJn¥e on a new education platfonn. The eourse will run in early 2025.
PUBLIC IKfEREST RESEARCH CENniE tJMtTED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2024 REPORT OF fHE DIRECTORS CONr.......... Evalustion & Le#rning: Work continued with external consu1thll Liyewl World Centre, who were present throughout the 2024 Building our NaThatiYe Power program. They will reEx)rt in early 2025 and we will integrate their fdingS into the next $tsge of our $trat¢gy. PartR¢rship Development CoThmuDity We integrate ]Le£work building into all of our programme5. We continued to work with Joseph Rowntree Finthdl0'& (JRF) Narrative Power prwamme. The programme connected us more closely witii narrdtive organisations in the UK including Heard: Intet-liaTTatives, Common Cause. New Economy Found&tion and Radcomms. We are working to advocate for a bolder ft>rni of chang¢, creating a collective narrative about narrativc work. building narrati change infrastrncbjre, and influencing nderS to take a dicallY different approach to funding narrative work A new fund from JRF is platjned to be launched in 2025 drnmryng on this work. Projects and Workshops Fr8ttLing Moderll Slavery: A large framing projecL in collaboration with The British Institute of International and Compar&tive Law, researching the narrdtiyes around Modern SkvEry. begall in O£tob¢r 2023 aud continu¢d into 2024 with th¢ publi¢alion of the filkal report in June 2024. Starr Ch&nges: W¢ appoitLted a new fundraiser in Seplember2024. FINANCIAL RBVIEW During the y¢ar expendithre ex¢¢¢d¢d income by £67,045. prior year income exceeded expenditure by £122,321. RESERVES The directors ty to ensure thatihe Chatity h&$ sufficient casb r&8erves to me¢tthr¢e months nwning ¢osts, a$ funding is gencrally prOded quarterly. DIRECTORS All thre(ior5 of tbE charitable cotDpany are also Tru*e¢s of th¢ Charity. and theTe are no other Trustees. Ml of the Trustees namcd below served throughout th¢ year except as shown below. ThE Board kn powtr to appoint additional'lru5tee5 as it considers fit to do S Zlotowitx (re8igned 6th March 2024 E Andrews E Baker (reSied 13th June 2024) J Beswi¢k (resigned 13th Jun¢ 2024) N Akehurst RLuff C Magee T Hyatt L McKay (appointed 6th March 2024) D Hebron (appointed 6th March 2024 and resigned 2nd April 20251 KEY PERSONNEL AND PAY POLICY The directors consider the Bo of Directors &8 comprising the k¢y manag¢nJent personnel of Charity in charge of directing and controllillg the Charity and nlling and operating the CtrLarity on a day to d&y basis. All directors give their time freely. POTENTIAL IMPACT OF LEAVING THE EUROPEAN UNION 'rhe dirECtors have considered tbe impact of leaving the European Union and have concluded that the evcnl has not signifi¢antly it[Lpted ihe Charity's activities. STATEME,Nr OF DIRECTORS, RESPONSIBILITIES The dll'ectors are responsible for pr6paritLg flljancial st&t¢rn¢nts in accordance with applicable law and United Kingdoin Generally A¢pted AOUnting Practice. Company and Charity law reqllire the directors to prepare financiyl statements for each fmancial vear which give a true and fair view of the State of affairs of the Charity as at the balance sheei date olits incoming reSOUTces and application of resources, including income and expenditUTe, for tbe year thcn ended. In preparing those financial 5trateTn¢nts the dircctors are requittd to: - select suitable accounting policies and then apply theTn consisteTrtty observe the methods and principl¢s of the CharLUes SORP - make judgcments And estitnates that are ronable and prudent - state whether applicable accouniing slandards have been followe( subject to any material depattures disclogcd and expl&illed in the finan¢i81 stat¢m¢nts
PIJHLfc IN'I-l.-RS.'%'l RI..&F.-ARC.11 CI.-N-I RI.- IJfvIII'I'.D PIIOL 3 I.'INANCIAI. SI A TfMI-.Nl'.% ri)R Tiif. YLAII l-:NW)r.¥) 118T I)I.:CI-.NII)I."R 2024 Rf.poRI- OF 'n IF. DIRl•.C'TORS CONI"... pr¢parc IhL' linJn¢i.I1 sialc1l111ts thr goins coo£¢rn bts51> il is ioappfopriale lo as511m¢ tlic ClwrilK. Ivill conilnu¢ Tbc ilire¢ii)rs iirc responsiblc for IMiD14t11 Proper 41c¢IMfftilng recofds i&liicli d15¢10.¢¢ i%iili rca%onoble Jccuracy il an), iimt Illi% li14a1 p05ilion ofili¢ ¢haiiiablc eompo#}' and 10 coJbl¢ Ihem io cftsur¥ ihii I Ilie finJii¢lal siai¢m¢ryts cornply iviih Ihe Lottipi1nlo$ 4Ici >IK16, Lknrities Ati 2011 and Itie Cbariiyl.ILThwMS and Ilcportsl K¥yii111ions. 1th¢y2r¢ also rcspofLsibl¢ foT sJfisvJrding t1 Hss¢Lsofihc Chdriiy dlld he¢ fili iakrng r¢asnnable 51CPS forthc Pi¥¥¢nlion dese[1011 of fraud Nn(l tsilKr irr¢&u14riTi&8. '1'1io direciiJi$ iiio(fic¢ 31 ihedaie Ilic R¢porf ts Trppm&¢d confirni thai.- $LT LYB5 ¢aEh dircuw 15 nwJr¢. thcrr r rel01 adi1 ithfoln1ÈOrb of l1¥h tht tIMT1¢$ aydtlor is iivarc.. Jnd th¢ dro(lo15 iak-cii all 4cp.E Ilh)t ihcy viight to a dir¢ciotÉ 10 inJk¢ IliLmK.IL'¢% &Wii¥f of tjny r¥kvonl aiidil Snformoiinn and M esitrblish Iliii E iht ch3riiy's Jwdiior isJwJw ofilot infurniaiioiJ_ AIIDITORS TIK. A1¢4[$. PrcNis & Ca LLI,, will prop05id fw r¢.appbrmimeDi Krordancc 14iili S¢¢iiun 485 vfihc C.ompJr¢i¢s Aci 2006. Tliisrwn, Ii.u b¢cn prepnicd in attordaHC¢ willi thc S?10"$1LS 111& ID ¢orrAParti¢s ibS¢¢1 lo ihc Jmpll ompanic% resimcii'iihio Part 15 ofihe C.omp)ni¢s Ad 2fi. li a$ awr0%.L b) tht LLI 091 £02S 5i8IIL(l oli ils b¥'liiir DIRI-:L I-OR
PUBLIC INTEREST RESEARCH CENfRE LIN(rrED PAGE 4 FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31ST DECEMBER 2024 REPORT OF THE tNDEPENDEwf AUDITORS TO THE MEMBERS OF PUBLtC INfEREST RESEARCH CETrrrRE LIMTTED We have audited the fll]ancial statements of Public Inter&8t Research Centre limited for tbe Y etthl 31 Dec£mber 2024 which Comprise the Statenkent of Fironcial Activiiies. the Balan¢e SheeL Statemenr of Cash Flows, the related notes on pageg 10 to 15. The fillancial reporting framewot thatlms been applied in their pN)ardtitsn is applicable law and United Kingdoru A¢¢oullting Standards, including Fillala1 R¢poniryg Swid8Jds 102: The Financial Reporting Standard appLicable in the UK and Republic of trelalld {Unit¢d Kingdom Gelleralls Accepted Accollntitig Prnetict), &8 applicable to finan¢iaL 8talernents prepared in accordallce the sD]all cortwi4s regime of the Companies Act 2006. OPNON In out opittion the ftnancial 5tRtements.' give a trnc and fair vicw of the state of the cbaritable compattls affairs as at 31 Dernber 2024 and of its in¢oming resources application of resourees, includthg its itLCOttte and expendiwre for the year then ended. have been proper1Yprepad in accord with United Kingdom Generally Accepted A¢countJng Prnctice. and have been prep2red iti aeeordauee with tlke wir¢meuts of the Companies Act 2006. BASIS OF OPINION We c(mducted our audit in accordance with Interlon&1 Standards on Audi IUK) OSAS (UK)) 8pplicthle law. Our responsibilities und¢rtbo8e standards are fi]rtber dewibed ia the Audiwvs re6FX)llsLlilitie8 for the audit of the funcIaL stateIEIEll¢s section of our report. We are Indedent tsf thE charitable collylly in aOrdanCe wilb ¢thiul requirements that are relevant to th¢ audtt of the financial ststemenrs in the LK iocludiog FRCS Ethical Standart and we have fulfilled our ethical r6sponsibilities in aecordattce these requirements. We believe that the audit eVidCe we have obuined is sufficient and appropriate to provide 8 basis forour opinion. CONCLUSIONS RELATING TO GOING CONCERN In audititig the financial ststements, we bavo coneluded that the dite¢toTr of the going ¢oncernbasi8 of a¢¢tsunting in the preparation of the fjnall¢ial statellwlts is appropriate. Based on ihe work we bave rfornI¢d, we have nol identified arny nTrat¢rial ullcertainties 1&¢]8 to events or conditions that, individually or Gollectiyely, IDay Gast sigutficant doubt on the charit&bl¢ ¢onJpany's ability to continue as a going ¢ouce for a per(od of at least twelve months from the financial staments att autknti8ed for issue. Our reSnSIbIlItieS alld the respot]sibililies of the th"recloTS with respect to goiDg are described in tbe relevattt sections of this rwrt. (yrHER INFORMATION Th¢ dire¢tors are reS911t for tbe other infotinatioL The otb¢r iDfornJation¢ompris¢s the infornwtion iticlud¢d in the Directors, Report other than the financial sthtements aj ow Auditols trpon thuein. Ouropinioll on the financial statements do not wv¢r the other infonllarion except to th¢ ¢xwtt otherwi% explicitly stated in our reporL we do nol express any forni of assurance conclusion thoron. Ill collnectiorn with our audlt of thE fi1]ala1 statEmellts, oUrrEv1jity is lo [d the other infoIllti0ll aDd, in doing so, consider whetlw the other infornmtion is materially inconsisient with the financi statements or out kttowledge obtained ill tbe audit or otherwryse appears to be materially tsta[ed. If w¢ identifysuch material iwonsistencies or appar¢ot ll]aterial mis5tateJnents, we are required to deterniitte wthether there 18 a material mi55tatcmellÉ in thE fillallcial stat¢ents or material 1¢tEMent of the other infoTtnatson. If, b8sed ¢in the have perfornied, we conclude that there is a ]atErial miss*attment of thts otber lllformati0 we atE required to report that facL We have nothing to report in this regard. OPINIONS ON OTHER fvL4TTERS PRESCRJBED BY THE COMPANtES Acr 2006 In our opinio4 b&8ed on the work undertaken in the COUEse of the audit". tbe inforniation given in the Dit0[5, rep)rt foT the finanoiai year for whi¢h the financial ststements are prepared is consistellt witb the finaneial 8tatements,' attd . the Directors, rep)rt ha8 been prepared in accordance with applicable leyl requirettnts.
PUBLIC INTEREST RESEARCH CENfRE LITED PAGE 5 FINANCEAL STATENIEWtS FOR THE YEAR Ehl)ED 31ST DECEMBER 2024 REPORT OF TE IXDEPENDENf AUDITORS TO THE MEMBERS OF PUBtJc IKtEREST RESEARCH CENtRE LthllTED .... Continued MATfERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEFfioN In the light of th¢ knowledge alld understanding of th¢ ¢haritabk wrnpany a1 113 ellieI obtsined in the ¢OUTse of the audit, we have not Adentified material n)isstatements in the Ditectots, ret We have nothmg to report in respect of the following n]atters iti relation to vthieh the Compatiies A¢t 2006 requires us to reF¥)rt io you if, iu our OplorL ' adequate accounting recor(b ]]ave not been kept or rettwns adequa for our audii have noi been received froln branches notvisited by us; or . the financial statcments are not in agreenKnt with the accounting records and rettrns. or • certain disclosures of directors, rcmutterntion specified by law are not made" or • we bave not obtsined all the infornThtion and explanations nece5w for tbe purposes of ovr audit. or the director8 were not entided io prepare tbe fiuancial starnents in aocordsnce with the small Companies regime and take advantage of the sttull companies exemption inpreparin8 the Rert ofth Direetors. RESPONSIBILITtES OF THE DIREcfoRS A8 explai]1 More fully the StaterneTht of Djrectors, RespoLsibilities statement set oul on page 3 the directord responsible for the preparatiott of the finaJKial statements alld forbting satisfied that they give a true fair vi¢w, for suGh int¢tnal control as they determine is necessarylo enable the preparation of fjjwicial ststements that are free from material mi8Statsmen( ether due to fraud or error. In preparitig the financial statements, the directors are r¢S81ble for a81g the cbaritablc con1panS ability to continue as a goillg concern, disclosing, as applicoble, mallers related to going concern and using the going concenJ basis of accoullting unless the dir¢Gtors either ititend to liquidate tbe clwitable eoD4)Any or to cew op¢rdtiOlJS. or hav¢ no r¢ali8tic alterLVe but to do so. OUR RESPONSIBILtrIES FOR THE AUDtr OF THE NNLNCIAL STATEMEVts Our objectives are lo obtain Teasonable about whether tbe fit.Ial statements as 8 Mthole are fite from ]np4terial n)i8Stat¢Jn¢nÈ, whetheT due to fraud or error, and to issue all.4uditols rcport tbal includes our (Trpillio Reascwble assurance is a high level of &*wance, but it is tt a guarantee that am audit conducted in accordance with ISAS (UK) will alTh7ys detect a material illi88tattment when it exists. Mi&8tstemEDts c8n arise from fraud or error and ar¢ Wnsid¢r m&terial if, indiNidually or in the aggate, they could reasonably be expected to uenCe the economiG decisioDS of users taken on the basis of these financial statements. A fiuiher description of Ourte4Lbl1itieS for the audit of tbe financial statements is locat oll the Financial Reporting Council's website aL' www.frc.org.uw2uditorsrewfjsibiiities. This d¢scription fornjs part oFour Auditoes worL IDENTIFYING AND ASSESSING POTENTL4L IUSKS RELATED TO tRJiECJULARITIES lttegularities, including frdU(L are iL8tallces of non<0mplnCe with IANS alld regulations. The primary re4K>TJgibility for the prevention and detection of irregularities Including fraud rests with both nwMgement amd those charged with govemau¢¢ of th¢ charitable wmpany. W¢ design1 pro¢edtwes in lin¢ our r¢5pousibilities, outlined above, to detect material 1[atelettts IL respect of intgularities, illcludtllg frau& The &Ktent to which our pri>cedures 8se pable of detecting irregulan'ties, iwluding fraud is dctsiled 10. We have ¢onsxdered the natt¢ of the iThduslry alld tOr. control environnmiL laws and regulations aLd business perfoTmanct of the ¢b&ritable cojnpany, illcluding its remuneration tiCi&S. and r¢gulatioDs coNidercd in¢lude¢L but were llot limited ttr, the Companies Act 20(J6, clwi.tics Aci 2011. Cknity SORP atd FRSIO2. We have enquired with nlaEge¢llt IZL regard5 to theiroTr%Tr a&Set of the risks of irreguIarities, iucludillg fraud. We also enquired of management and those chaoed with gOVManCe as any ktM)wn instances of non-conylthllce or suspeGted non-compliance with laMB aThl regulatsorL8. We have obtained relevant documentation and reprentatioEL9 in order to form an opinion on potential irregulariti&8, including fraud. We considered the opp)rtunities and irK¢ntives that may exist within the organisation for frau Bfised on thi8 understanding. we de8igned splfi¢ audit procedu to identify iLstances of nonwcomph.ance with law9 8md regulations, in¢luding obtsining corrobordtive evIde &8 requirwL Exon]ples of prOcr¢S included reviewing large and unusual transactions, reviewing large and unexpected variattces, reviewing journal entries and reviewillg legal cotrespond¢nee.
PUBLIC INTEREST RESEARCH CENFRE LINirrED PAGE 6 FINANCIAL STATEPfvlENTS FOR THE YEARENDED 3 1ST DECEMBER 2024 REPORT OF THE INDEPENDENf AUDITORS TO THE MEh(BERS OF PUBLIC INfEREST BESEARCH CENfRE LI[[rED .... Colltittued There arc irdLerent limitations itl the &udÉt procethTres descnl)ed aboit. n()t least sampling 18 used under International Auditmg Standards, therefore llot all transartiORL8 are TVVteTArd. This means there is a risk we will >t deteet all IguLar[tieS iucluding tIL986 leading to a llNt¢r.at mi5siaiement in the fitmociai statements or non-compliallce with regulations. The risk of not deteciillg a material tnisstaiemettt due to fraud is aLoo higher tlwi the rith of not detecting one resulting from ¢rror, as fraud may involve deliberate ¢oncea]ment by. for exaEDpl¢, forgery. collvsioJL OMIL0 or intetitional ]nisrepresentAtitin. RelcYatEt iderttified laws attd regulations w¢re comnkunicared within the engagcmcnt so t1 rernained alert throughout the audit for indiwations of fraud or tn-Du)llanC¢. USE OF OUR REPORT This report is tnade Solely to the clwitable compan8 menkn, as &b(yJy. aw)rdanc¢ with Chapter 3 Of Part 16 of tlLe Companies Act 2006. Our audit wort( has been ullderraken 50 thai we migbt gtate to tbe Charitable compangs merrlbers those matters we are required to state to th¢m in a Auditotrs ttport alld for no other purp08e. To tbe fullest extellt permitted by law, we do not occept or assume $pOlI81blIIty to anyon¢ other than the charithle ci)n]pangs DJewb¢rs as a body, for our audit work for this repon, or for the Op110$ we have fotrned. NIGELPRENTtS FCA (SENIOR STATirroRY AUDrroR) FOR Ob BEHAtF OF: PREbrtIS & CO LLP 115c Miltoa Road Cambrtdge CB4 IXB & STATufoRY AUDtroRS
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piiui.lr M-IiirsT RI-SEAIILII CI-NTRf= i.IhllTI--D Pilcib. ¥ riNANCIAI. STATLmI:.m I'.OR Tiif YAR F.NDr.rJ Jis'r Dr.cthlllLR 2044 73AI.ANCE SIILLT 2024 ry023 rr.0 AssErs ,461 1,943 CURIiW Assrrs Debior% C&sh 41 boiik and in hand Tot#1 Ciinroi Ats18 514 159.247 89.026 137 J07 159,761 !26, J33 I.IABILrriES Cr¢diLors.- aniouni% fdllifiu duc Ivithin year 12,620 Nci Ctsrreni Ass¢ts 147,150 213.713 NET ASSE13 148.61 I 215,656 'ri.IE FUNDS OF THC CEIARITY Uitr¢sirieicd lrtunie thd5' R¢sl¥led In¢onic fuTh£i% 98,611 501KIO 156.Sn4 39,052 215.656 12 1'0TAI. I-.UNDS 148.611 Tliis r¢pon, wliich h&4 btert ppU[ed aciord4n¢c 7th Ihe ¥pecial r¢lMung 10 wrnponies subjcei10 1¢ cL)mponi¢s regim¥1 rythIn Parl 15 of lh¢ Compaoivs A{ *OUfj. li approl'ed by the board ¢Jn Ill oi l nd stgnvd on 11.1 behalr. R LlJPI.- DIRECI"OK The noles oll pnge$ 10 10 15 fonn Wdn oftlwsc linoniial statemrn(s.
PUBUC IKfEREST RESEARCH CENfRE LtMrrED PAGE 9 FINANCLIL STATEMEN13 FOR THE YEAR ENDED 31ST DECEMBER 2024 STATENtENf OF CASH FLOWS 2024 2023 Cash tlows from operadng actliqtles: Net ¢ash provid¢d byl(wTrl by) operating activities Cxsh flow8 from Investfng Acdvltfies: Purch&se of property, plant at]d equipment Net ¢4$h prOded by knvesthg ¥d%ltles 13 22,826 70,155 1886) 1886) {1.207) {1.207) ChAnge In ¢&sh cash equiv41ellts iu the reportlng perlod Cash and cash equlvaleDts at the begintiillg of the reporting period C8sh and cash ¢qValents at the end of the reportlllg perlod 21,940 137,307 68,948 68,359 159247 137,307
PUBtJc INrEREST RESEAKCH CENlliE LlfvtrrED PAGE 10 FINANCL4L STATFMENfs FOR THE YEAR ENDED 31ST DECEMBER2024 NOTBS TO THE FfNANCfAL STATEMwrs ACCOLfNTING POLICIES (a) BASIS OF PREPARATION The financial giatements have been preped in accordallce witb Aecoulltitig and Rep)rting by Chan'ties.. Statrment of R¢¢0llJnld¢d Prdctice applicable to chan'lies preparing their accounts in aordanCe the Financial Reportin8 Standard applicable I the LX and Repub]iG of Ireland (FRS 102) (effeGtive l Jallu4ry 2019)- (Charities SORP (FRS 10?)), the Fijwicial RepoTLi Stslldard applicable ill the UK attd Repubh"c of treland (rn 102) 8lld tbe Act 2006. Public Interest Research Centre Litllited meets the definition of a public bcnefit entity underFRS 102. Assets and liabilities are initially recognised ai hisiorical cost or traLsaction tlUe wlless othernryse sthted in the relevant aceounting policy notes. The financial slatcments arc Stat tn sterling which is thc fitional currency of the charity. (b) INCON RECOGNITION Graots a1 donations are rttogDisd wbeo thue i8 entitlemenL (¢) EXPENT)ITURE RECOGNITTON Expenditure includes all costs directly incurred (Trn ch4ritsble prOjts b¢iDg run by the ClJaLity. It ' (dl VALUE ADDED TAX EKpendibr¢ includes VAT wheff appTopri8t¢. (el TANGIBLE FtXED ASSETS AND DEPRECIATION Tangil)le fixed assets ate staled at cost less depreciatio Dq)reciatioll is prOded oll all tallgible &wts ar ra calculatsl to TIte-off the Costs less ¢$tirnat¢d residual value of each asset overits experied uscfid life as follows: otrice equipEllCnt . ov¢r 4 years Compuier equipment - over 4 year5 Fixthres and fittings . ov¢r S years {0 OPEIL4TING LEASES Rents18 applicable to operating le&w wthere thltatttially all of th¢ b¢nefiÉ8 alld ri8k8 of 0erShip ietDain with the l&wr, are charged agaiDSt profit as ired. (g) FOREIGN CURRENCIES Mon¢lary wet5 alld liabiliti£8 ill foreign cu¢ll¢le8 are translated inro sterliug aÉ the rates of ex¢hallge ling at baLance sheri date. TraTWGtiOD5 in foreig currencies are traSlated into Sterlitig at Ibe rate nding on the date of the traw¢tioJL Eschange differences are taken into acCot in arriving at the n]ovement offL.
PUBLIC INTEREST RESEARCH CENfRE LIMITED PAGB 11 FINANCIAL STATEfvENTS FOR THE YEAR ENDED 3 1ST DECEMBER 2024 NOTES TO TIIE FINANCIAL STATEME.NTS GRANTS AND DONATIONS - Current Year Unrestricted Resiricted 2024 2024 Tol&l 2024 Grants received during the year Jam Today Josepb RoMTrtree Charitsble'frllst Paul Hamlyn Foundation EsmE Fxirbairn Foundation Calouste Gulbenkn"an Foundation Nebllla Fund Lankeuv Chase Foundatio 15,000 50,485 35,000 68,500 15,000 50,485 35,000 68,500 20,000 53,123 30,000 20,000 53,123 30,000 222,1011 210 50,000 272,108 210 Donations r1Ved during the year 222,J18 50,000 272.318 ureStriCted Restricted 2023 Total 2023 - Prior Year 2023 Grants received during the year Jam Today Joseph Rowktree Charitable Trnst Barrow Cadbury Trust Paul JlaTnlyn foundation Esme Fairbain) Foundation Caloust¢ Gutbenkian FouDdation LankElly Chit5E Fiouttdation LankElly Chase Foundation- mbrGe th¢ Mess" 19,500 100,334 19,500 100,334 17,450 75,000 60,000 30.000 30,000 40.000 17,450 75,000 60.000 30,000 30,000 40,0(K> 254.834 78 117,450 372,284 78 DonatiOIIS received durrDg the ycar 254,912 117,450 372,362 INCOME FROM CHARI'fABLE AcrivrriES UnTesirictsd Restrictrd 2024 2024 l.ot 2024 - Curr¢nt Year Cgmmission¢d wgrk Bvok 5&iles Misc¢llanEOUS incomc 41,773 47 191 41.773 47 191 42.011 42,011 Unrestricled liestricted 2023 2023 Total 2023 - Prior Year commi.ssioned work Book sales Miscellaneous irAcorne 17,549 (15) 179 17,549 (15) 179 17,713 17,713
PUBLIC tNTEREST RESEARCH CENTRE LIMITED PAGE 12 FINANCIAL STATEMENfs FOR THE YEAR ENDED 31ST DECEMBER2024 NOTES TO THE FINANCIAL STATEMENTS EXPENDITURE ON CHARITABLE ACTIVITIES. Currwt Year Unrestrict¢d R¢stri¢ted 2024 2024 Total 2024 Researcb salaries (note 6) Research costs CoTnputer support TrdvelliDg expenses T¢lephone Office rent alld utiliti¢s Stationery. offic£ supplies alldprinting 155.719 86288 4,307 9,916 802 8.331 44,052 15,000 199,771 101.288 4,307 9,916 802 8,331 F I'l 1,556 4,934 110 334 92 23.707 1,368 21.125 483 1,556 4,934 iio 334 92 23,707 1,368 21,125 483 Subsistence and hospitslity Po%tage Book%, subscriptions etc. Bank charges Miscellaneous expenses Deprexiat]on Seminar costs Training 319.072 59,052 378,124 GOVERNANCE COSTS Auditors remuneration 5,331 5.331 324,403 59,052 383,455 EXPENTITURE ON CHARll'ABLE ACTIVITIES- Prior Year Unrestricted Restricted 2023 2023 Totxl 2023 Research salari&s (note 6) riesearch costs Computer supwTrrt TraVelng ewns¢S Telcphone OtTice rent and utilities Stationery, office supplies and printn)g Subsistence and hospitalsty Postsge Books, subscription5 etc. Bank charges MiscellanEous expenses Depreciation S¢minar Costs Training 132,963 26,526 2,883 11,030 729 7,623 43,461 25,000 176,424 51,526 2,883 11,030 7,623 284 1,464 79 257 246 2,467 1,60 1,993 4,771 1,464 79 257 246 2.467 1,608 1.993 4.771 194,923 68,461 263,384 GOVERNANCE COSTS Auditors r¢muneration 4,951 4,951 199,874 68,461 268,335 NFf INCOME FOR THE YEAR The net income for the year is Stated after chargin Depreciation oftangible fixed &ss¢ts owned by the Chlty Audit fee 2024 2023 1,368 5.331 1,608 4,951 MANAGEME,NT THREAT IN RELATION TO NON-AUDIT SERVICES In conmnon with many other businosscs of our size and natu w¢ use our auditors to prq)are and subinit rcturns to the authorities and 4lSSiSt with the preparation ofthe fllthDcial slatem¢nts.
PUBLIC INTEREST RESEARCH CENI"RE LtMITED PAGE 13 FINANCIAL sTATEfvNTS foR THE, YEAR ENDED 3 1ST DECEMBER 2024 NOTES TO THB FINANCIAL sTATENTs STAFF COSTS No remwjeration wa% paid to directi)rs th]rffing the year. Therts were no amounts paid to directors for reimbursement of exp¢nses Iwithin the year (2023.. £Nil). 2024 2023 Salaries Social sccurity and pension costs 182,447 17,324 163,019 13,405 l99,771 176,424 The average week]y nuMr of staff employed by the Charity duri]Jg th¢ year wa5.. 2024 2023 Direct clwitable worfcers The key managemertt rSonnel of thc clwitable cornpany comprise the Trnstces. No employee received remuneration of more than £60,000. TANGIBLE FIXED ASSE'rs Cuent Year Fixture5 Office Computer Equiprnent Equiprllent Fittillgs Total COST BalaIre at 1.1.24 Addiiions 8,981 13,367 886 3.698 26,046 886 Balance at 3 1.12.24 8,981 14,253 3,698 26,932 DEPRLCIA'I'ION Balance ai 1.1.24 Charge for the year Balance at 31.1224 8,687 98 11,718 1,270 3.698 24,103 1,368 ,785 12,988 3,698 25,471 NETBOOK VALUE at 31.12.24 196 1,265 1.461 Fixture$ - Prior Year Office Computer EqUipent EquipmeDt Fittings Total Balance at 1.1.23 Additions 12,552 815 3,698 24,839 1,207 392 BalaD¢e at 31.12.23 8,981 l3,367 3,698 26,046 DEPRECIA'fioN Balance at 1.1.23 Cbarge for the year Bal{ce 31.12.23 8,443 244 10,354 1,364 3,698 22,495 1,608 8.687 11,718 3,698 24,103 NE.TBOOK VALUE at 31.l2.23 294 1.649 1,943 DIBTOIiS 2024 2023 Due wittLin one year Due within one year Trade debto]8 Prepayments Other debtors 249 1,875 86,902 514 5l4 89,026
PLLIc INTEREST RESEARCH CENTKE LIMfTED PAGE 14 FINANCIAL STATEI(ENfs FOR TEtE YEAR ENDED 31ST DECEMBER 2024 NOTES TO THE FINANCIAL sTATE[W[s CREDrroRS 2024 2023 Due wrythin DUE within one year one year Trad¢ creditors Taxation and )cIal swurity 4292 1,129 4,106 3,084 3,96l 3,780 3,249 1.630 Other creditors 12.611 12,620 io. SHARE CAprrAL Th¢ cotllpany is limited by guarallree and does JKJt have ally 8h&e capital. Thc liability of the M¢th¢FS is ]imid to £1 each in tbe etllt of the coMY being w¢) up. MOVEMENfs OF FUNDS . Current Year 2024 2024 2024 Tcptal Unrestrict£d REstricted Balances brought fonlwd at 1.124 InGorne Expendittwe Baiattce8 carried fort7rd at 31.12.24 156,604 59,052 266,410 50.000 (324,403} (59,052) 98,611 50,0(MI 215,656 316,410 (383,455) 148.611 2023 2023 Unrestrictrd ReEtri¢ted 2023 Total - Prior Year Balances brought fOnd at 1.1.23 ome ExpEndi Baiallces carrted fonvard at 31.12.23 83,272 273206 (199.874) 156,604 10,063 117,450 (68,461) 59,052 93,335 390,656 (268,335} 215,656 12. RESCrED FUNDS Fullds bn)ught forward at 1.1.24 Funds arri¢d forward at 31.12.24 - Current Year Grants Received FxpelldibJre Calouste Gulbenkian Foundation IaT&¢lly Chase Foundation Lankelly Chase Foundation."Embrace the Mess. 20.375 23,677 15,000 20,(MO 30.(X)O {20,375) {23,677) (15,000) (59,052) 20,000 30.00 59,052 50.000 50,000 Funds bmught fonvard at Grts 1.1.23 kneived Expenditure - Priory carried fonvard at 31.12.23 Barrow Cadbury Tnast Network for Social ClTrange Caloust6 Gulbellkiall Foultdation LaDkelly Chase Foundatio LaDkelly Chase Fouthtioo-'Faibrace the 7,J107 2.656 17,450 124,8571 {2,6561 (9,625) (6,323) (25,000) (68.461) 30.000 30,000 40,000 20,375 23,677 15,000 10,063 117,450 59,052
PUBLIC fNTEREST RESEARCH CENfRE tIMrrED PAGE 15 FINANCLIL STAIEhlEKfs FOR THE YEAR ENDED 31ST DECEMBER 2024 NOTES TO THE FINANCIAL STATEMEN13 12. (c(pntitJued} Cal0te Guibellkiatt Foutthtion: Diyetsify, delllotr. alld dwen civil societys WO on story, framing and arratiir. tAnkelly Clwe Fowllon. Support tbe Building Nan*ive power training ¢ourse. tathlly Cl]a8e Found&iioll- the Me&8": Pilot comt]Lurrity organising course. 13. RECONCIUATION OF NET MOVEMENf IN FUNDS TO NEf CASH FLOW FROM OPEIL4TING ACTIVITTES 2024 2023 Net V¢ellt in fimds Add back depreciation De¢re¢(In8e} ill dobtorg tncreasel(decrea8e) in crediiors Nei cash provide(L'(wed by) by operating aclivitiS5 (67,045) 1,368 88.512 {9) 22,826 122.321 1,608 (59,704) 5.930 70,155