Company rL¥istration numbei.. 00354802 charity regibtralion number: 313746 The Round Table Limited (A company limited by guarantee} Annual Report and FinanLial St8icmonts for the Year Ended 31 December 2023 Burdelt Kingl Accountancy Lirniled Chartered Cerlif1ed Accounthnt 8 The HamiltOll5 Nemonarkel Suffolk CB8 ONF The Round Table Limited Contents ReferenLe l￿d Admi￿tratiVe Details Ito2 Trustees, Report 3109 Sialcmcnl ofTrustees' Responsibiliti¢s io Independent ExaniillePs Report Statemcnl of Financial Aclivities 12 Bulance Sheet 13 Nc)les lo the F inancial Statement% 141021 The Round Table Limited Reference and Administrative Details Trustees Dr 11 Aldrich Dr P Clegg. (completed lem1, 8 Junc 2023) Dr C P Cullen Mr H J B Elliott, {TreasuTer) Dr P Flather Ms A Jones Ms E Kreling. {completed ten￿ 8 June 2023) Prof J B L Mayall. {complct¢d t¢rm, 8 June 2023) Dr S Ci Mole Ms K NavaTalnam Ms R Payne. (complet¢d tem, 8 June 2023) Mr J Robbins. {Lhair, from 8 Jun¢ 2023) Mr M N F Robinson, {LomplLitcd terni 8 June 20231 Ms R V S¢hofield, (Chair. completed tenn 8 Jun¢ 2023} Dr M Torrent Dr J Trinidad Secrelary DrACMay Editors Dr V lyer, Editor Ms 'f A Barringer, A8sistsnt Editor Ms T A Barringer, Book R¢vi¢ws Editor Ms D Ransom¢. W¢b¥ite Editor c.harity Registr2tion Number 313746 Company Rcglstratlon Number 00354802 The charity is incorporated in England, Page I The Round Table Limited Reference and Administrative Detai]s Reglgtered Offlee 4 Park Square Milton Park Abingdun Oxfordshire OX144RN Independent Examiner Burdett King AccountanLy l.imiled Chartered Certified Accounlanl 8 The Hamiltons NLMTnarket SulTolk CB8 ONF Bllnker% Co-operatiTr'e Bank PLC PO Box 250. DLlf FIou5L' Southway Skelinersdale WN8 6WT Scottish Widows Bunk 67 Murrisvn Street F.dinburgh EH3 8YJ Page 2 Tbe Round Table Limited Trustees, Report The mistees. who are Ilirectors for the purposes of company law. prescDt thc amiulil report togetber with the f1nancial statements of lh¢ ¢harilable company for the year ended 31 DecembcT 2023. Trustees and otricers The tn]stees and officers serving during the year and since ibe year end were as follows: Trnslees: Dr H Aldrich Dr P CILgg, (completed ierm, 8 June 2023) Dr C P Qillcn (appointed 8 June 2023) Mr H J B Elliott. (Treasurer) Dr P Flathcr (appointed 8 June 2023) Ms A JonLS (appointed 8 June 2023) Ms E Kreling. {compleled ierni. 8 June 2023) Prof J B L Mayall. (completed ten￿ 8 June 2023) Dr S (y Mole Ms K Navardtnam Ms R Payne, (cornplcled terni. 8 June 2023) Mr J Robbins. (Chair. Irom 8 Julle 2023) Mr M N F Robinson. (compl¢￿d tcrm, 8 June 2023) Ms R V S¢holiLld, {Chair, completed lern] 8 Junc 2023) Dr M Torrenl (appnint¢d 8 June 2023) Dr J Trinidad (appointed 8 Jun¢ 2023) Secretary.. DrACMay Structure, GovernAnce Management Govcrning Dooumenls The Round 'l'able Limited is a charitable company limited by guaranle¢, govern¢d by its Memorandum and Articles of Association dated 7 July 1939 and amended by an LxtraoTdinary General Meeting on 28 January 2010. Its daY-t￿daY activilies are conducted in accordance with a 8overnan¢e document AdOp￿d by the Lditorial Board on 22 April 2010 and subsequently periiKlically afflcndcd, including on 19 October 2023. The Round Table Limited 1.8 a charitablc company limited by guarantec, govcrncd by it.s Mcmoranduin and Articles of A550ciatioll dated 7 July 1939 and amended by an Extraordinary General McL.ting on 28 January 2010. Its day-to-day aclivities are conduthed in aLcordance with a governance docuinent adopted by the Editorial Board on 22 April 2010 &TKI subsequenily peTiodicAlly amended, including on 19 October 2023. Appointment of Council Membgrs The directors of tbe compmy are also charity trustc¢s for the purposcs of charily law and under the company's Articles of Association are known as Menibers orthe Council. Under the requirements of the Memorandum and ArtiLle5 of Association the Member5 of Council are elected to serve for a periud of thrLY yeaTY after whiLh they must etther stand dowi or be re-elected at the next Annual General Meeting. However, the governance document agreed on 22 April 201 O provides that members of Council (except th¢ Chair and the Treasurer) may not stand for re-election for a full frrni. The Chair and Tr¢a5urer are electcd for threc-year term& rencwdb16 once. On 16 June 2022 it was decided to reduce the size of the Council from Iwelve to elbven rnembers. Page 3 The Round Table Limited Trustees, Report The directors of the comparAy arc also charity trLi%tees for the PUTPO8es ot charity law and undLr the compaiiy's Articles of Association arc known as Mcmbcrs ijf thc Council. Lnder Ihc rcquirements of the Mcrnorandum and ArtiLILS of Ass'ocj i3ivin8 in-depth analysi5 of a of Con)monwealth-relat¢d n¢w$ items. In 2023 the Mrbsitc conlinucd to see an increase in visitors. This was particularty marked in relation io certain articl¢s OT ¢Crtaiu cvents {such as thc Coronation) The Website EdI￿r has also been rcsponsible for maintainin¥ and developing the Round Table'5 expandin social m¢dia presenc¢. parti¢ularly through X (forni¢rly Twittcr). Meelings On 18-19 JanLMry 2023 the Round Table h¢ld a two-day conference at Cumberland Lodgc, Windsor. entitled 'CJlobal challcn¥¢s and the intL'Tn#tional rcsponsc: what role fi)r the Commonwealth9' Sessions addressed tvpics ranging from the future of multilaterdlism and thc role of Small states to human rights and the ¢h8ll¢nges facing Ihe Cornmonwe&lih. Speakers, included Baroness Scotland. the Comiiionwcalth S¢crelary-G¢neral, and the conference also inclLEded a Zoom ¢all wilh Chief Emeka Anyaoku, her predccessor in the post. The ¢onfer¢nce was filmed, and th¢ vidcos published on the Round Table wcbsitL, alon¥5id¢ iThterviews and other material. The Round Table also held smaller discussion meetingsi iTtcluding with HE Vikram K. DoTaiswamt. High (.'ommi55ioner for India. on 20 April 2023. and FIE Moazzam Ahmad Khan, High Commi.%%ioner for Pakislaa. oll 8 June 2023. Financial Review The Roiind Table journal continued to sufler a small attrition in the levLI of its print salcs during 2023, but the resultant decline in income from journal subscriptions was more than offs¢1 by income fmm onlinc sales and downloads. The Members of Council and of the A&so¢iation have continued to keep a close eyL on ways of m&ximistng illcome, and hav¢ b¢¢n Mindful of the need to bold suffict¢nt fUt￿ltig in rcscrve. The Roiind Table journal continued to suff¢r a small attrition in the level of its print sales during 2023, but the resultsnt decline in income from journal subscriptions was more than otrset by income from online salcs and dowllioads. The Men]ber5 of Council and of ihe Association bave continued to kcep a close eye oll ways of illaximising income, and have been mindful of the need to hold sufficient funding in reserve. Principal Funding Sources Page 8 The Round Table Limited Trustees, Report The charity's principal source of income hag continued to be roydlties and editorial expellses from the publication of thc journal. In addition, Cach membcr of Ihe Associalion pays an annual rnembership fee of £30. 'rhere al'e also sfflall inLomes froIn duniltions and inleresl on inveslAnenl5. The charity's principal sourLe of income has continucd to be royaltics and cdilorial expenses from the publication ol Ihe joumal. In addition. ¢a¢h membei of th¥ Associalioll pays an annual meu]bL"tship fee of £30. There are also small illcomes from donations and interc5t on investmLnts. Invaslment Policy The charity's funds available for long-tenn investmcnt have been p13ced into an account Th'ith SLottish Widows. Members of tliL C,c)unLiI uf Ihe Association continued lo monitor interest rate8 order to maximi8e the charily's income from long-tcnn invcstrnents. ThL' churity's fiindb ai'ail#bl¥ for lon¥-tLrm ini'estniunt huvL. been placed into an account ipiih Scottish Widows. Membcrs of Ihc Louneil alld of th¢ Associaiion continued to monilor intcresl rales in ordcr to in&¥iinise the Lhurity's in¥ome from long-lcrm invcstrnLiII%. Iduture PIAllS Duriiig 2023 the Roiind Table engaged in &n cxtcnsive strategic reviL'W, eoiiccrnLLI purtiLiilurly with thL futuri of thc joiirnal. During 2024 thc charity will bc sccking to appoint a new edilorial ￿aM and io widen thc bcope or thL joui'nal. Page 9 The Round Table Limited Statement of Trusteesl Responsibilities The trustccs (who arc dlso the dircctors of The Rouiid Table Limited for thc purposes of compally Idl4'1 are rcsponsiblc for prcparing thc trustees, rcport and thc financtal stateinentq in accordance with appliLablc law and United Kingdom Accounting Siaiidards (United King'dorn Gener￿lY Accepted ALLowilin4 PraLIjLe}, includin¥ RS 102 "The b inanLial Rrporting Siandard applicxbl¢ in the UK and Rcpublic of Ircland.. Cornpany law rLquircs thL trustees to preparL tillanLial statem¢nts for eaLh titk4incial year. Under company law thu Irustces must not approv¢ th¥ fIiwi¢ial %tatLmLnts unlcss ¢hc )' are balisfied that thcy givc a truc and fair view of Ihe slate of affairs of the charilable company and of the incoming resources and &pplication of resources. iJ]LludiIig its. inLomL and Lxpclldifiirc, ot thc charitable company tor that pLriod. In preparing these tinancial 51atem¢nts, the trustees required io.. s¢l¢¢t $uilabl¢ accounting poli¢i¢s and apply th¥m consistenilyy observe th¢ methods and principles in th¢ Charities SORP- make judbiemenls and egtimutos that are Teasonable and prudent; 81aiL whLthLr applicable aLcounting standards, compri%ing FRS 102 havc been followed. 5ubj¢¢t to any Inalerial deparlures disclobed and ¢xplaill¢d in the finai)Lial slatcmcnls,. iind preparc ihe financial statcmcnts on thc going ¢ortcern basis unlcss il is inappropriat¢ lo presume that Ihe LharitablL company will continue in business. 'I'he trustees ￿'e responsible for keepiny proper accoiinting records that can disclose with reasonable uccurdcy at ¢iny time thL fin8sliLial po.%ition of the LharitsblL company and enable them to Lnsure that thc financial stateniei)ts coimply wilh ihc Compaiiics Acl 20Q6. Thcy arc als(I rcspoiisiblc for safeguarding Ihc asscl% of Ihc chai'il(ible Loinpuiiy anLt hLnLe toi. Idkiiigy rLa5011ablL sILP% tur ihL pi'cvLIiliun dLILLli(Trn ot-li'aud (Ind othLr iri'Lgul¢iriliLs. The tru.$￿eS are responsible for the maintenance and inlegrily of the corporate and finaneial information includLd on the chui-itsblL LoMpan￿S web%ite. L¢gislatiun guN'erning the prLparalif)n and dissemination of riiithncilll statements may diffcr from l¢¥islation in oihcr jurisdictions. The annu# onitsb ruport and rLsponsibilities were approved by the I￿Ste¢S of the ¢harity on 27 JunL 2024 and signLd rby.. MrJRo I'ru5t¥¥ ins DrACMay Company S¢ir¥*ry Pagc 10 The Round Table Limited IDdependent Examiner's Report to the trustees of The Round Table Limited ('the Company,) I rcport to the Lharity trustees on my examination of the accounts of the Cotnpany for the year ended 31 DeceDther 2023. Responsiblllties and basis of report As the charity's trustecs of thc Company (and also ils direclors for the purposes of company law) you arc responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 I'thc 2006 Act'}. Having satisfied rnyself ttkat the accounts of the Company are not required to be audited under Part 16 of the 2006 ALt and are eligible for indepLndent examillatio￿ I report in r¢spoct of my examination of yvur charity's accounts as C￿led o￿t under section 145 of the Charities Act 2011 ('the 2011 Act,). ID carrying out my examination I have followed the Directions given by ihe Charity CommissioTJ under section 145(5)(b) of the 2011 A¢¢. Independent examiner's statement I have completed my examination. I confim that no matter5 have come to oiy attention in LOTJnection with the CAamiu¢ilion giving7 ML Lausc to believe: accounting r¢cords were not kept in respect of The Round Table Limited as required by section 186 of the 2006 Act. or 2. the ￿cOun1$ do not accord with those records; or the accounts do not comply with the accounting requirements of .section 396 of the 2006 Act other than ny rcquircinenl that the a¢¢ounLs give a 'true un(1 fair View, which is not a matter considered as part of an indL'pendenl examiaalion" or 4. the accounts have not been prepared in accurdanc¢ with the methods and prin¢iples of the Stat¢mcnt of Recommended Practice for accounting and reporting by charilies lappliuable lo charities preparinb Iheii. accounls in uccordanLe wilh the financial Rcporting Standard applicable in Ihc UK and Republic or Ireland {FRS 102)1. I hai'l no ¢oncern5 and havc come acr0s5 no other matters in connection thith the examination to which attention should be drawn in ihis report in order to enable a proper undeTsthnding of ihe accounls lo bc reached. Lisa King FCCA MAAT Burdett King AccountunLy Limited 8 Tlie HamiltOJ15 Newmarket sU￿01k C118 ONF 14 Junc 2024 Pagell The Round Table Limited Statement of Financial Activities for the Year Ended 31 December 2023 (Including Income and Expenditure Accfjunt and Statement of Total Recognised Gains and Losse5) Unrestricted funds Total 2023 Note Income And Endowments from: Donaliot)s and l¢ga¢i¢s CharilablL dLtivitie5 Investment income 820 95.509 1.283 820 95,509 1.283 Total inLome 97.612 97,612 Expendlture on: Lharilublc aclivilies 112.764) 112.764) Total expenditure (112,764) (112,764) Net expenditure {15.152) (15.152) N¢t molement ii) fund (15.152) {15,152} Reconclllatlon of fuDd$ Total funds broughi fonvard 109,1154 109,854 Totsl funds carried forward 15 94.7n2 Unre8tricted Cuiids 94,702 TThtAI 2022 Note Incvme and Eiidowments from: Ch4ritablL activiti¢4 Investment inLome Oiher income 79.915 95 15,913 79,915 95 15,913 1.otal income 95.923 95,923 Expenditure on: C.harilable activities 103.262) (103,262 Total expcnditur¢ 103,262) (103.262 Net expenditure (7,339) 7,339) Nel movement in funds (7.339) {7,339) Reconclliation of funds Total funds broughl forward Total fim(Ls ¢arried forward IR7,193 117,193 15 109,854 109,854 All of the charity's activities derive from continuing operations during the above two periods. The lTrind5 breakdown for 2022 is shown in note 15. The notes on pages 14 to 21 form an integral part of thesc financial statements. Page 12 The Round Table Limited (Registration number: 00354802) Balallce Sheet as at 31 December 2023 21)2.3 2022 Note Flxed assets Tangible assets 119 299 Current *ssets DLbiors Cash al bank and in hand 12 28,895 71.660 22.8115 90.954 13 100,555 11.3,759 Creditor5". Amounts (alling due within one year 14 (5.972) (4,204) Net eurrent 4S5Cts 94,583 IUY,555 Net assets 109.854 Funds of the charity: Unre5trl¢ted income fvnrtE UnrLslriLILd funds 94,702 109,854 Total funds 15 94.702 1119.854 For Ili¢ lin&nLldl yLar ¢ndinB 31 DttLLmber 2023 lh¢ charity was LnlitlL¢J i() exempli(Trn from audit und¢T seLlfftvn 477 of thc Comp811i¢s ALt 2006 relating to Stnall companies. Trusiees, re8pon8ibililies.. Thc niembcn hav¢ nol requircd the charily lo obiain an audil of its accounts for Ihc ycar in qucslion in acLordance ￿'Ith %uclion 47(?: and The liustees acknowledge their rebponsibilities for complying with th¢ r¢qiiirem¢nls of the Act with respect to ¥cLuunting r¢cords and thc preparation of accounts. These account% liave been prepared in accordance with tl)e provisions applicable to companies subject to the Sn￿[1 LompdniLS fLg7imL. Th¢ fil 2024 ncial statcm¢nts on pages 12 to 21 wer¢ approved by the trust¢¢s. and auth0ri5ed for is5u¢ on 27 June cl signcd on their bchalf by.. obbins Tn15tee DrAI:May Company S¢cret2ry The notcs on pages 14 to 21 forni a)) integral part of these financial statements. Page 13 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2023 I Charity status The Charity is a coMp(￿Y limit¢d by ￿lara1]tee Eiigland aiid con5L'qLILntly docs not havL shJre capitsl. Each of the trustees is liabl¢ to conu'ibute an atnount not exceeding .£1 toll'ard5 the a88et8 Ot the charity in the event of 1?4LbidJiiun. Thc addrc&s of its rcgistercd officc is., 4 1)Jrk Square Milton Park Abiiigdoll Oxfordshire OX14 4RN These financial statements were auiliorised for issue by Ihe Iruslees on 27 June 2024. 2 ALeounting policies Sumn)4?ry of significant %ccountinR polieic8 and kcy accounting cstimatel TIIL PI'iIILIPÉil IlLLuuiiling' puliLi¢s appliLd in IhL prepiiralion vf thLsL finaJ]Lia] slalLmLnl% ure sct oui bclow. Thcsc policies l)avc bL'cn LonslStLnily appltcd to all thL yuars prLs¢ntcd, unl¢s,s oth¢nvisc ststLd. St#temLnt ofi'ompliance The fiiiaiicial slaleineiit% havi beln prcparLd iii a¢¢ordance with AcLounling aiicl Ruporling by CharitiLs: Sialnim¢nl of Rcroiiiincnded PriicIiLC (applicable lo cl)¢irilies prcparing i13cir accounts in £iCCOI'diince wilh the Fin¢incial Reporting Standilrd pplicable iii ihe UK and Republic of Ireland {FRS 102)) (issued in ()ciober 2019) ICh¢Jl'itlL% SORP {￿ Ei8 102)), th¢ Eiinancial Reporting s￿n¢jard appli¥JblL in the UK and Republic of Ireland (I-, RS 102) and the Loinpanies ALt 2006. Basis of preparatinn Thc Rouncl Tdblc I,imiled ine¢ls the definition of a public benefit entity under FRS I n2. Aq#ttt% #nd liqhilities unless Othenvise stated in the relevant a¢¢ounting pvIiL-y notLs. ThL trustce.4 ci)nsider that there are no inaterial uncertaintie8 about the ¢h4riry's ability to Continue as a LFoing th** ￿￿1￿ hii lh￿ phqrity. xernption from preparing a cash now statement The charity opted tt> early adopt Bulletin I published on 2 February 2016 and have Iherefore not included a cash Ineome and endowments All Income is recognised once the charity has entitlement to the incorne, it is probable that tlie income will be bly. The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2023 Donali(Jn,s and legocies Donations are recognised when ihe Charity has been notified in writing of both th¢ amount and settlement date. In tlie eveni ihal a donation 18 subject lo conditions ilial requirL a IL'VLI of pcrformdiiLe befoi'e Il)e charily is eiiliiled to the fund5. thL incoinL is deferred and not recognised u￿ttl eitlier (liose conditions are fully mct, or ihe fultilmLiit of tho8L collditioiis 1.% wholly witl)iii the colltrol (If the Lhariry atid it is probublc that those ¢oiiditions will be fulfilled in the reponing period. Legacy gifts arc reLo¥niscd on a case by Lase basis f()Iloiving ihe granling of probate when the adniinistralorlexeculor for the eslale has commiinicaled in writing both the aiiiounl and settleinenl dale. In Ihe event that rhe gift is in the tonn ot an asset other than u Lash or a tinan¥idl a5%L't li'adLd on 41 recognised stock extyhange, recognilion is 8ubjeut to the value ot the gift being rL&iably measurable with a degre¢ uf rLdSonable accuracy and thc litlu to thc d%SCt having bccn tran%f¢rrcd (o IhL Lhurily. Defep7-ed income Incoinc rc¢cived in advance of the provision of a specified service is deferrcd until the criteria for income rLLugiiilii)n ￿. In#l. Iiiiye.slmenl income Tnicrcst on funds hcld on deposit is includcd when rcccivable and th¢ ainvunl can be measured reliably by the charity. this its i)ormtslly upon iiuti fieaiioi) of th¢ iiit¢resl paid or payablc by the bank. Expenditure Li&ibililics are recowiiscil as expendilure as soon as there is a Icgal or eonstrnclive obligalion coinmitling the ¢hdrity tc) thdl LXPLnditure. it 14 probJbl¢ thilt S¢￿1￿M￿nt will be required and the aniount of thL obligation can b¥ mLusurL'd rLliably. All cxpciiditurc 14 accoiintcd for on an accrual. b,: s. All cxpcnscs lrtcliiding siipport costs and govcrnancc costs rL allo¢ulLd or apportionLII to thL uppliLabl¥ Lxpenditurkn hi&din88. C'hfjrrtfjhle ac'tpiiilies Expci)ditiire on Lhai-itubl¢ activitie5 inLludL the coyls of the ch&rity'% Publi.%hing Activities. the costs of ninlling Confcrcnces and Meeiin85 and other activities undertaken lo further the purposes of the charity and their 41S¥UVi4¥tLd support Losts. Support and guvernanLe e05ts Support co&ts have buLii all()catLd b¢tw¢¢n gov¢rnaiic¢ costs aiid other support LOSt8. CJoveriiaiicL Costs compTiSC all cn81.8 iiivolviiip Ihe PLJI)lic', -i¢¢niJnlability of th¢ charity and its compliance wilh reglilation and good pruclice. The.$e cot51s illclude Losts rL'lutLd lo stululory audil and legal fees togther with ali appoinirnenl of ovcrhead and .8iipport CO8t%. Governancc costs ttnd support costs relating to chAritEkblc activities have been apportioned based on thc number of individual gydnt awards made in recogllition that Ilic adminislralive costs of aiydrding, monilvi. and assessing rtr?MtE 4?l?ni Fiinnnrl pr8ntq t)nsl frTrr2dii2te svholarships are broadly equivalent. Page 15 The Round Table Limited -Notes to the Financial Statements for the Year Ended 31 December 2023 Taxatiun The churity is considered to pass the tests sel out in Paragraph l schedule 6 of the Finance Act 2010 and therefore il Tncets Ilic dLfinilioii of a charitable Loiiipany for UK corporalion tax puryi(I,%es. ALcordingly, the charily 15 poienlially excmpt from taxation in respect of inLoine or Lapital uFain% rcLeived within Ldlegories covered by ChaptLr .3 Part I l of the Corporation Tax Act 2010 or ScLtioll 256 of thL" T41Xation of Chargeable (J¥lin% Act 199? to the extcnl that such income nr gain% are applied exclusivcly lo chorilable purpo%es. Tajiglble llxed #ssetS Indiyidual fixed asset5 CQStiiig £100.00 or Inorc 41rc' iiiitially recorded at cost, less aiiy sub5eqvenl accuTniilated depr¢ciation and subscquent accumulated impainnenl lo.%ses. Depreciatlthn and nmortisatinn DLPI'LLialion is provided on tanb?ible fixcd asscts 50 as lo write oft. Ihe cost or valuation, less any estimated reSidL￿1 valuc, OVLr their expeLtcd u5¢fi11 cconomic lifc as follow5.. A%s¢t elass C)ffice eqiiipment DepreciAtion mLiihod ind rat¢ 25U/o on cosl Tr￿di. debtors Trad¢ #nd odier debtors are rcLognised at th¢ settlement aiDounl due after any trade discount offered. Prcpayni¢nls dr¢ valued al IIIC dn)ouiit prcpaid nei ofany IradL disLounls due. C#yh Cash Lqulvalcnt5 Cash (ind Lquival¥nts comprisL Lash on h<)nd dnd Lall d¥posits, and othLI- short-tLrm hig7hly li4uid lliveqlincni% ihai arL rcadily LoiivLrtiblc to a kTJOWli amounl of eash and arc %ubjLLt lo ali in5igynificaiil risk of chcinge iii value. Credltors and provisions Creditors and pruvisions dfL recogni%ed whLrL the ¢harity hay u pi'esent ()bligalion i'esuliiiib froni a past evenl Ihal will probably result in tli¢ trall5fer of lunds lo a third Pdriy and thc dinouiil Llue 117 bLiIIL Ili¢ vbli&Talivn ¢un be mL'asur¢(i or LStinidrcd rlliably. CrcditOTr dl)d proi'isioiis gre no)rmally recogi)ised YT their 5¢ttlenienl atnouilt a11cr allowing for any trade discoiints due. Fund structure UnrestriLled inLome funds are general fijnds that are available for use a£ the trustees discretion in furtherance of thL nbjcciii.'Eb of the Lharity. Restricted funds are fijnds which are to be USLd in accordance with specifiL re8lriclions imposed by Ilie doiiur or trusi deed, or througl) the terms vf an appeal. P24LiC 16 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2023 Financial instruments RecogniÉTon and measuremenl The trust only has basic finanLial ￿SCtS and liabilities of a kind that qualify as basic finunciul instrurncnts. All financial assets and liabiliti¢s ar¢ initially measured ar transaction price (including transaction costs), ¢xcept for thosc financial asscls classificd as at fair value ilirougli profit or loss, which are inicially measiii'ed ai fair valuc (whiLh ]% norinally thc tranqaclion piice exclLI(liiibr tt'ansaclioii Losl%l, unless the aiTangemeni LonslilLiles a rinancinL) tl'dll%aLli()n. If an arrangemenl coi)slitiite.% linanLingy tr