Company regislratiotl nuffjbeT.' 00354802 Charily regisiTation numb¢r: 313746 The Round Table Limited (A Lompany limited by gwdrantee) Annual Report and FinanLial Statements for tho Year F.nded 31 December 2024 Burdett King Accoulllat)cy Lirnited Charlered Certified Accountant 8 The Hamtlto Newmarket Suffolk CB8 ONF The Round Table Limited Contents Reference and AdMI￿trative Dctttils Ito2 Tnslees, Report 3to9 Ststetnellt ofTrustees' Responsibililies io Independent Examiner's Report Statement of Financial Aclivities 12 B81an¢e Sheet 13 Noics to the Financial Stalcmenls 141021 The Round Table Limited Reference and Administrative Details Ch4irm8n Mr J Robbins, (Chair} Trustees Dr H Aldrich, (compl¢t¢d term 27 June 2024) Dr C P Cullen Mr H J B I,:Iliott, (Trea5urcr) Dr P Flaiher Ms A Joncs, (rctircd 10 Dcuembcr 2024) Ms E Kreling. (from 27 June 2024) Dr S G MolL, {Lomplclcd terni 27 Julie 2024) Ms K Navaratnam. (Lompleted lenn 27 June 2024) Ms R Payn¢, (from 27 Jun¢ 20241 Mr J Robbins, (Chair) Mr K Soyiiika Dr M Torrent Dr J Trinidad Mr O Tudor, (from 27 June 2024) DrACM&y S¢crelary Editor$ Dr V Iyer. Editor M8 T A Barringer, Assistant Lditor Ms T A13arriiis7er, Book RLvicws F.dilor My D Ran4omL., WLb.sitL Editor Charlty Re￿ItT￿lIon Number 313746 Compxny Registration Number 00354802 Thc charity is incorporalLd in England. Pagc I The Round Table Limited Reference and Administrative Details Reglstered Offl¢e 4 Park Square Milton Park Abiii¥dun Oxfordshire OX144RN Ind¢pL'nd¢nt Examiner Burdctt King ALcountanLy Liintled Chariered Certified Accounlanl 8 The Ilamilioiis Ne￿.Marktst Suffolk CB8 ONF Bankers Co-operatiN'e Bank PLC PO Box 250, DLIt House SouthKvay Skelmersdale WN8 6WT SL'otlish Widows Bank 67 Mo￿lSOn Streel F,dinburgh El13 8YJ Page 2 The Round Table Limited Trusteesl Report The trustees, who are directorB for the purposeq of company laTh. present the annual report together with the financial statements of the charitable company for thc year ¢nd¢d 31 December 2024. Trustees and officers The trustees and officers sermng during tbe year and Since ibe year end were as follows: Tn￿tee5. Dr H Aldrich, (completed terni 27 June 2024) Dr C P Cullen Mr H J B EllioQ (Tre&8uTer) Dr P Flaiher Ms A Jones. (retired l O December 2024) M8 E Kr¢linb'. (from 27 June 20•4) DT S G Mole. (completcd *rn1 27 June 2024) Ms K Nuvaratnam. {compl¢tcd l¢rm 27 Junc 2024) Ms R Pa)me, (from 27 June 2024) Mr J Robbins. (Chair) MrK Soyinka Dr M Torrent Dr J Trinidad Mr O Tudor. (£Tom 27 Julie 2024> Chairnian: Mr J Robbins, (Chair) Secretary: DrACMay Strllcture, GovernAn¢e and MADagement Goveriiing Documenls The Round Table l.irnited is a charilablc compuny limilcd by guarantce, govcrncd by its Mcmoranduin and Articlcs of Associalioll dut¢d 7 July 1939 and an)LndLd by an Extr&ordiiiary GLnLr&l MLeting on 28 Junuary 2010. Its day-to-day activities are conducted in accordance with a governance document adopled by the Editorial Board on 22 April 2010 and subsequently periodically amended, includlng on 28 November 2024. Appoinlinenl of Council Membeys The directors of the coinpany are also ch&rity trustees for the PUTpose5 of ¢hurity law and under the company's Articles of Associlltioft are known as Members of the Council. Under the requirements of the Memorandum and Articles of Associ2tiDn the Members of Council are elected to serve for a period of three years after whtch they must eiiher stand down or be Te-elected at thc ncxt Annual Gcncral Meeling. However, the governance document provides that mcmbers of CouLiciI (exLept the Chair ynd th¢ Tr¢asurcr) may not stand lor rc-elcclion foi a full term. I'he Chair and Treasurer are elected for three-year teirns, rencwAblc once. On 16 June 20•2 it was dccided to reduce the size of the Council fr()m twelve to eleven members. Page 3 The Round Table Limited Trustees, Report The Annual Genernl Meeting repreqents member5 of th¢ Editorial Board of the jourllal, Ivho constitute the Association as dcfincd by thc Memoranduin and Articlcs of Assovialion. As wcll as clecting Me)nbers of the ('ouncil and the C.liair alld Ireasurer, they als() elecl for three-5Tear lernis {renewdblL) the Chdir i)f the Mcmb¢rship CommitteL and Chair of th¢ Wcbsitc Advisory Group. The SeLrctary, Editor, Assistant Editor, Book Revtews EditOT. and Website F.ditor hold those posts until the F.ditOTial Board should decide oihcrwise (subjcct lo apprnisals and rcvicws which the Board has put in place). MLmbers of tbe Association lof whom thLre arL LurrLJ)tly 26) ar¢ cirLulatcd prior to thc Annual General Meeting wih a ligl of Iru&Lees retiring and/or seeking elcclion. TrMsle.e.s ' Induclinn und Training All trustccs are already familiar with the PTa¢ti¢al work of thc charity, having usually served as members of the Edil(Trrial Board (which foi. practical putP08es manage.8 some of th¢ aLliviliL's of the Lharilyl fi)r s¢vLral ycurs. New trustee.g are provided wilh inlonnalion by Ihe Lhair and Sccriiary, ¢overiiig such mallers as their legal obligations under cliarily and company law, Ihe conleni of Il)e iMenior¢?ndum and Arli¢l¢s of Associ411ion, the CiiivciMunLL D()Lumeiit, the rcL¢nt tiiiaiiLial performaneL of thc charity, aiid tiitt)rL plaiis and objccrii'cs. TrustLU8 are rnade LOglli5ant of their sateguarding responsibilities. ThL SLcrLt8ry keeps a file of Chority Conunission circulars aiid publications which arc drawn to the attention of trust¥¢s wh¢n r¥lLvant. and kept available for their inspeLtion. Orgunizolinii The Mtrmbers of the CounLiI meet &t least tWiLL' a yL"dr, L￿d rnmy hold an extraordinary meeting should 5ULh a mc¢lin& bc rLquc8lLd by any two Incinbe￿. The SecrLtary and r,.ditor dltciid c.ouncil InLclings, but have no voling righis. F'or practical purposes. soine of tlie acllvities of the c￿lrIlY ¢ire niil naged by the member5 of th¢ E(liti)rial Ll()urd (thL A441)Liali()n), Ivho meet qiiarrerly. At discr¥tioii (>t-thL Lditi)ri8113oard aiid on it5 cxprL5S insli'uciion. de¢ision-Inuking powers arc soinclimcs dclcgalcil on spc¢ifi¢ issues to Ihe Chllir of the C'ouiicil (whi) also aLls as Chair of ihe Edilorial B()ard), Ilie ,SeLretary, u1- IhL Edil()r. Sub*()mmille¢% liai'.c been est¢iblished lo make rLLommLndiitionb on m¢mb¥r5hÈp #nd un thL Lhdrily'% wLb.8ilc. i's n¢cLsbUry for them to b¢ ablc to discharge their responsibilities. Trustees pay an annual meinbership fee {cu￿¢ll11Y £301, largely to offs¢l these benefits. Achievements and Performanee Ptsblic'alions Tn the year ending 31 December 2024 the journal. under the editorship of Dr Venkat lyer, continued to publish artiLIc5 of high quality and g'eat interest on a widc range of tOPlLS LOtinLCted to intcrnational relations in genero1 and the CoErllnonwealth in Pdrticular. Two issues published in 2024 were special I￿ueS. The FebrLW issue, guest-edited by Tavis D. Julcs, was on 'Caricom@50' The August 15sue, guest-edited by David Gome4 wa5 on 'Climate Justice and the Commonwealth.. Page 6 The Round Table Limited Trustees Report Topic% covered in th¢ four 'general' ilsiics Plihlishcd in 2024 includLd 'The C.halleiigc{%) ot. India's Foreign Policy in the Sliilling Global Balancc,, by Sadia Rahman and Enescan Lorci (April 20241, 'Paleslinc and the Modern Commonwealth.. Past Enga¥emellls and Future Men]bership'.>' by David Erdos (June 2024). and 'Opentng the "Illack Box" of Digital Idcntity Systems.. Anoiher Invisiblo Border for African5?' by Odilile Ayodelc {Oclober 2024}. The December 2024 issue included ¢x¢ensive ¢overage of the 2024 Samoa omrnonwcalth Heads of Government Meeting by Venkat lyer, Derek McDougall, and Matthew Neuhaus, a5 wcll as arliclLS oil such diverse topics a5 th¥ Indian Women's Premiei. League and Si Lucia's jourlley 10 Ihe ppellate jurisdictÉon of the Caribbean Court of Justice. In addition. Ihri)ughuul 2024 the journal colllinued lo publish. every iwo months, a widL-ranging section of book reviews. ThL' journal also publishes a regular Commoiiwvalth Booksh¢lf. IvhiGh provides bri¢f¢r details o Lommonwcalth_relevant publications. Tho 'Opinion' scclion o1.1he juurnal, comprising slioner ￿]d more opinionated arti¢les on topical thwics, 15 an impnrlanl feillur¢ of Ihc journal, with 39 'opinion' pieces publishcd in 2024, covering a wide variety of CommonwL'alth_rL'latLd topiLs. Prize. The 2L)24 Hary Hodson Prize was y41￿arded to David R. Salmon for his essay. 'Arthur LKwis Revisited: F.conomic r)cvclopmenl willi a Limited Supply of Labour. Th¢ essay will b¢ publishcd in Ihc journal in 2025. The Pctcr Lyon Pri7.e for 2023 was awardcd in 2024 to Raj Verm4 for his article, 'India'g Quest for Security ¢ nd ils NcutralFty in the Ru%.sia-Ukr¢iinc War,. piiblished in Tlic Roiind T ob%ervc thc rnethods prinLiples in the Charities SORP- make judgeinents and estimdlcs tljal are reasonable and prudent. ststL whLthci' applicable acLounting standard5. comprising FRS 102 hav¢ been tollowed. subject to any material de1)￿rtu￿S dis¢losed and Lxplaincd in th¢ fiiianuial statLin¢nts' and prcp¢1re Ihc fin2( ncial Slalcmcnts on ihe going ¢oncern basis unl¢ss il is inapproprialc to prcsumc Ihal Ihe ¥hariiublL uvtnpany will coiilinuL in businLSS. The Irusiees are responsiblc for keeping proper 1￿countIng> rccords Ihal can disLlose with reasonable accuracy at aiiy. timc tIIL finJJicial p().4ilioii of ThL' Lharitabl¢ ¢(kmpdny and ¥nJblL th¥m to ¢i)surc t])at thL financial .%TatLmeiits ¢oinply with the Q'.ompanics Act 20116. Th¢y arc a150 rcsponsibl¢ for safcguardiiig Ihc asscls of Ihc chai'ithble company and hcnLC foi. taking r¢a.s(Trnablc slcps fur the prevLnlioii and dcleLlion ot fi?ud dnd other irregvul¢irilics. The IrusLees 4qre responsible for Ilie iiwinienance and inlegrily of Ihe corporate and finiincial infi)rmatinn inLludLd on the charit¢iblL' L'()mpany's M'¢b8lte. Legislation goi'emitig thc prcparation and dissL'mination of financial statements may differ from I¢￿slatIon in oiher jurisdictions. Jiinual rL IL% bchuir ort and re%ponsibililius WL're approved by the trustees of th¥ charity on 10 July 2025 Lind signLd Mr J Robbins ChaimiaD and Trnstec DrACMay Cornpany SeLret Page 10 The Round Table Limited Independent Examiner's Report to the trustees of The Round Table Limited ('the Company'} I report to the charity trustees on my examination of the accounts of the Company for ihe year ended 31 December 2024. Responslbllltles Ind basis of report As the ch3rity's trustecs of the Company (and also its directors lor thc purposes ol. company law) you are responsible for the preparation of Ihe accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 ALt'>. Hdving satisfied myself thal the aLcounls of the Company are not r¢qutr¢d to be audited under Part 16 of the 2006 Act and arc cligiblc for independent ex&mination, I report in rcspcct of my cxamindtion of your chaTity's accounts as carried oiit under section 145 of the Charities Act 2011 ('the 2011 Act,). In carryin8 Out my examination I have followed th¢ DiT¢¢tions givcn by Ihe Charity Commission under seclion 145(5)(b) of the 2011 Act. Independent examiner's statement L have uomplLhtLd my exaMi￿tion. l Lonhmi that no matters have come to tny attention in connection with the examination bviving me caus¢ to b¢li¢ve: accountiiig records were not kwt in r¢spect of Thc Round Tabl¢ Limilcd as required by s¢¢tion 386 of the 2006 Act; or 2. th¢ I￿¥OuntS do nol accord with those records; or 3. the accounts do not comply with the accounting requirLm¢nt4 of sLction .396 of thc 2006 Act other ihan tkny ￿quirement that thc accounts. give a 'truc and fair view, which is not a mailer considered as part of an indepeiident exarninatioo. or 4. the accounts havi not been prepared in 8c¢ordan¢e with thc methods Jiid principl¢s ol. th¢ Statemcnt of RLLommended Practice for aLCOLtniing and reportitkg by Lharitie5 (applicablo to charities prepdring their accounts in accordanLe with the finanL'ial R¢portin8 Standard appliGabl¢ in the b'K and Republic of Ii'eldlld {TrRS 102)]. E hai'e no concernq and have come across no i>ther Matte￿ in connL¢tion with the ¢xamin?tion lo ivhi¢h ottention should be drawn in this report in order to cnable a proper undcrstanding of thc accounts lo b¢ rcached. Lisa King FCCA MAAT Burdeti King AccouR]tancy LimilLd 8 'fhe HAmiltons NewinaTk¢t Suffolk CB8 ONF 10 July 2025 Pagell The Round Table Limited Statement of Financial Aetivities for the Year Ended 31 December 2024 (Including Income and Expenditure Account and Statement of Total Recognised Cyains and Losses) Unrestrieted funds Tot81 2024 Note Intome attd Ei nduwments from: Donations and lega¢i¢s Charilablc aLtivitlL5 InvesttmLnt illLome 1.000 9CI,986 2.739 I,OQMJ 96,986 2.739 Total income 100,725 IOQ,725 Expenditui'e on: Charitablc aclivilics {88.369) (88.369) Totsl expenditure Nel iiicome 118,369) 88,369) 12.356 12.356 Net moi'ernent in funds 12.-356 12,-356 IleconciliatlTrn of fund8 Total fiinds brought forward Toial funds carried forward 94,702 94,702 15 1117,11.58 Unrestricted funds 1 (17,1158 2023 Note Income and F.ndoTrvrnents from: Donatloiis and I¢￿cleS CharitablL aLtivities InvLsimLlIt in¢om¢ 820 95.509 1.283 820 95,509 1,283 Tolal inLomc 97,612 97,612 Expenditure on: ChariliiblL uctivilies (112,764) 112,764 Total expenditure 112.764 (112,764 Nel expenditure Nel movement in funds (15,152 (15,152) {15,152) Reeontiliation of funds Total funds brought forward Total funds cmtried forward 109,854 109,1154 15 94,702 94,702 Atl of the charity's activilies derive from continuing operations during IhL' above two piriods. The fvnds breakdoivn for 2023 is shoivn in note 15. The notes on pages 14 to 21 form an integral part of these financial statements. Pagc 12 The Round Table Limited (Registration number: 00354802) Balance Sheet as at 31 December 2024 2024 2023 Not¢ Fixed assets TtmgiblL assets Curreiit assets Debtors Lash a¢ bank and in hand 12 13 ?2.806 28,895 71,660 108,058 100,555 Creditors: Amounts falling due within one yenr 14 ( 1,000) (5,972) NL%t current Assets 107,058 94,583 Net assets 107.058 94.702 unds (Jf the charity: Unrestrlcted Income fundg UnrLslriLLL.d lunds 107,058 94,702 Total funds 15 107,058 94,702 For Ihc finanLial year chding 31 December 2024 the ¢harity was enliiled to exemption from audit under section 477 of th¢ Compynies Act 2006 relating to sm811 companies. TruslLe4' r¢spoiisibiliti¢s: Thc Inciiibcrs havc not r¢quircd Ihe charily to obtsin an audil of its accounts for Ihe year in queslion in accordanLe with .seLtion 476. and -rh¢ trnStces aLknowledge Ilieir respÉ)nsibililies for complying with the requirements of the Act with respect to accounting record5 and the prepJratiL7n of account5. 'I"liese accounts have been prepared in accordance willi the provisions applicable to companies subject to the small companies regime. ancial statcmcllts on page5 12 10 21 Nrre approved by the trustees, and authorised for issuc on l O July nd signed h r bchalf by= 2025 Robbitls Cha2rmaD and Trust¢¢ DrA(:May Company S¢creta The notes on pages 14 to 21 foTm an integral part ofthesc financial statements. Page 13 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 I Charity st8th5 The cl]arity is a company limited by gu&r8Jltee Eiigland and consequently doe5 not have Share ¢apital. Each of the trustees is liable to contribute au amount not exceeding £1 towards the assets of the charity in the event of liquidaiion. The addregs of its registered otTI¢c is: 4 Park square Milion Pdrk Abiiigdon Oxfordshirc OX14 4RN These financial s&t¢inents were auil)orised for issue by the trusl¢es on 10 July 2025. 2 Accounting policies Summary Trf SiEnificant 4¢countlng polleles And key At¢ounting estlmate& The principal acLounlinb' policics applicd in Ihc prepdfdtion of these financial stalemeftt8 are set out below. Th¢sc polici¥s have been consistLntly 8pplicd to all the ycars pres¢nt¢d, unl¢ss oth¢rwise stated. StMtem¢nt of compliance Th¢ financial statements have been prepared ii) ar¢ordunce with Accuunling and Reporling by Charities: Stalcmeni of Rccoirnnended Pra¢ticc (npplicable to charilics preparing Ih¢ir a¢coiinls in accordance with the Financial Reporting SiandArd applicAble in the UK and Republic of Ireland (FRS 102)) {issued in October 2019) Ichai'itics SORP {FRS 102)), the Trtnancial Reportin8 StdndaTd appliLablL' in the UK and Republic of Ireland (FRS 102) 8nd the Companies Act 2006. B#$is of prepai'atlon Thc Round Table l.irnil¢d meets the definilion of a public beneftt entity under FRS 102. Asqets and liabiliiies are initially recognised at histori¢al Lost or transaction value unless otherwise ststed in the relevant aLcounting policy notes. Going concern Thl trustees consider that there are no material uiicertainties about the chariry'y 8bility to continue as a going oncern nor any significant areas of uncertainty ihal affcLt the carying value of assels held by the charity. Ex¢mptRon from preparing a cash floiv statement The chArity opted io early adopt Bullctin I published on 2 February 2016 and have therefore not inoluded a cash flow slatemcnt in thes¢ financial statements. Income endowments All income is recognised once the ¢harity has entitlement to the income, it is probable thal tl)e income will be received and the amount of the income receivable can be measured reliably. Page 14 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 Doiiatioiis and legacies Donations are recognised when thc Cllarity ha8 been nolified in WTiling of both the arnount and s¢ttlernenl datc. In thu cvcnl ihat a donation is subjeel lo conditiolls thai rcquire a level of perfurn]allce before the charity is eiititled to the funds. the inLomo is d¢f¢red and not recognised iiDtil ¢itlier those condilioDs are fully mct, OT the fulfilinLnt of those Londitions is wholly within the control ot the charity and it is probable that those collditions will bc fulfilled in the reportin¥ period. Legacy gifts are rcLo&mis¢d on a case by Lase basib followiiig the &ryanting ol Probate whcn th adiiiinisli'atorlexecutor for Ilie eslale has communicated in writing both the aiiiounl and settlenient date. In the cvent that the gift is in the tonn ot an asset other than a cash oi. a Iinancial asset traded on 8 recognised stock ex¥h¢ing*¥. rLLognitiun is subjLCt to the value of the gifi being reliably measurable with a degree of reasonable accuracy and the litle to the asset havinbi b¢cn tran¥fO￿¢d io thc Charity. Delèi'red inL'oni& Incoine received in advance of Ihe provision of a spc¢ifi¢d s¢rvi¢¢ is d¢ferr¢d until Ihc criteria for income rLL()gi)ilii)n ai'c mel. Investmenl income Intcrcst on funds htrld on dcposil is included whcn receivoble and thc ainounl can b¢ rn¢asured reliably by the chariiyy Ihi5 is iiormally upon nolification ofihe iT]terest paid or payable by ihe bank. Expendlture l.l¥ibil iliLS are rc¢ognised as, expenditure as 500n as Ihcrc is a Icg&l or constructive obli84l1ion ¢omrnitting the charity to that Lxpenditure, it is probable ih8t scttl¢ra¥nt ivill bc requir¢d and thc amount of thc obligation can be I￿eaSured reliably. All cxpcndilurc is a¢counted for on an accruals basis. All expenses including support costs and govemance costs are allo¥atLd ()I' Mpportioned to IhL 8pplicable expenditure headingg. C'haritablcj activities r.xpenditure on charitable activiti¢s include the co.%t$ of the ¢h8rity'5 Publishing Activiti¢%, the costs of running Coiiferen¢es and Me¢lings and other activities undcrtaken to further the purposes of th¢ ¢harity and their asso¢i4ltL'd support cost5. S'upport and governanee costs Support costs have been allocated between govern8n¢e costs an(1 other suppoit costs. Governance costs Lomprise all oosls involving the public ac¢ountability of thc ch&rily and ils coinplianc¢ wilh r¢gulation and good practlLe. Thes¢ ¢otsls illLludc cosls r¢lalLd lo slalutory. audit and l¢gul fe¢y tOg1h￿ wilh an appointment of overhead and support cosls. Govcrnance costs and support costs rclaling lo eharitablc actii'itics have been apporiioned bascd on the nuinber of individual grant awards tnade in r¢c(TrgniliutL tkLat the adinini.gtraliv¢ ¢osLs of aW￿.￿lng, moniloi. and assessing T¢search grants, salary 5UPPOrt grant5 2nd posl graduate scholarships ar¢ broadly equivalent. Page 15 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 Taxation The Lharity 15 considered to pass the tests set out in Paragraph I Schedule 6 ot. thL Finance Act 2010 and therefore it meels the definiiion of a charitable company for UK corporation lax purposes. Accordingly, the charity is potenlially exempt from taxalion in respect of income or Capital gaius reL"eived within cale¥orie covcred by Chapter 3 Part I l of thc Corporation Tax Aci 2010 or Sectiot] 256 of the Taxation of CILargcable Gains Act 1992. to ihe extent that such income or gains are applied exclusively to charitable purposes. T#nglble flxed agsets IndividuaI fixcd ass¢t¥ C08ting £100.00 or more are initially recorded at cost. Ic5s any 5ubsequenl accurnulatcd depreaiation and subsequent aecumulaled impaiTrnent losses. Depreeiation And amortisatlo DeprLLi4ition is provid¢d on lan¥ible fixed &ssels so as to WTite off the cost or valuation, less any estimated residiial value, ov¢r th¢ir expected usefvl economic lif¢ as follows: Asse¢ class OffiLL cquipinent Depreciation method ¥Thd rate 251Jlts on cost Trade debtors TrddL uilicr debtors ar¢ reLognised al ihe settlement um()unl due after any trad¢ discount off¢rcd. Pr¢payTn¢nts are valued al the amOU￿t prepaid nel of any trade disLuunts due. Cash cash equivalents Cash and cash oquivalents compris¢ ¢ash on hand and call d¢posits. and other 5hort-teTrn highly liquid invcslmenls that ar¢ r¢Jdily convertible to 8 known ainount of cash and are subje¢t to an insignificant risk of Change in value. Credltors and proililons Creditors and provisions ar¢ recognised where lh¢ ¢harity has a present obligulion r￿ulling from a pusi event th&1 will probably rcsult in thc Iraiisfcr ot funds to a third parly and the amouni due to sdile th¢ obligation can be mcasur¢d or e5timat¢d reliably. Cr¢ditots and piovisiolls arL' nurmally rccognised at their scttlemont amount after allowing for any trade discounts duc. Fund structure Unrestrilled tnLome fundg are general funds that are available for use at the trustees discretion in fijrthet￿ce of thc objectii'es of th¢ ¢I￿rity. Restricted funds arc fund5 which are to be used in accordance with specific restriclions imp(Y3ed by tlie donor or trust deed, or through the ternL5 of aTJ appeal. Page 16 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 Finallcial illstruments RecognElion and measurement The trust only has basic financial assets and liabililies of a kind that qualify ￿ basic financial inslruments. All fii)ancial assets and liabilities are inilially measured at transaction price (incliiding trans8Ction costs), except ror ihosc financial &sscls clas%1 fied as al fair valiic through profit or loss. which are initially nieaqured at fair valuc (which is norn]ally thc transaction price ¢x¢luding iransa¢lion cosls). unlc.gs Ihc arrangernenl conslitutes a rmÉlticingTr Iran5aLlic)n. If an arrangiement Lonstitule& d linancing, transaction, tlie fmancial assel or fuuncial liability is mcas'iirod at the present valuc of th¢ futur¢ pajineiits discounted at a markct rylc of inlcrLSt for siinilar debi instrument. Financial assels aud liabililies ar¢ only offsel in thc stateinent of financial posilion when, and only when th¢re exisls & Icgally entorccablc righi to set off th¢ rocogniscd ainount5 ￿]d thc cliarily ii)lends eiiher io seiile on a nel basis. or to realise the asset and settle the liability simultaneoiisly. rinaiicial ass¢l5 are deTecognised whin and only when a) Ihe contraclual righis to Ihe ¢a8h flows from thc rinanLial tL%sel LxpirL or are settled. b) the charity transfers lu another parly sub.%lunlially all of thc risks and rewai'd5 of ownership of tho financi81 assct. or c) the charity. despite having ret8ined Some, but not all, sig7nificdnt risks aiiJ rL'wai'ds cit ()wn¥r%hip, has Ir&n$ferred control of the a5S¢t to 3noth¢r party. FinanLial liubililieg ar¢ derec()gnised only wh¢n the obligation specifiud in ihc contract 15 dischargyed, ¢ancell¢d or Lxpircs. 3 InLume from don4tions leg4cle5 Unr¢slricled funds General Total funds M¢mbership and dinner fees 1,000 1,000 Tutal for 2024 1,000 1.000 Total tor 2023 820 820 4 Income frojn ch2rl1able actlvltles Unrestrieted funds General Total funds Put>lishing activities Confcrcnc¢ and meetings 96,761 225 96,761 225 Total lor 2024 96,986 96,986 Total for 2023 9.5,509 Page 17 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 S Investment income Unrestricted funds C7enerAI Total funds IntL'rest receivable and similar in¥ome' Illl¥i'Lst receivable un bank dLpusils 2.739 2,739 Total for 2024 2,739 2.719 Total for 2023 1.283 1.283 6 Lxpenditure on ¢h¥ritable actlvltles Unro%trieted funds Gen¢rul Total 2023 2024 Note Publi.8hing aLtii'itlL8 C()iilLrcnLe alld rneelings Pri7es CJovernance c051s 63,9911 9,214 63.998 9,214 11,955 3,202 63.893 35,544 9.053 3,2112 88,369 88,369 112,764 Total expenditure Conler¢nee$ and meet&ngs Publlshlng activities Total 2024 Totgl 2V23 Prlzes F.ditoriJil honoraria Iditorial Lxponscs Meetings Prizes and studenlsbips Website cosls Website honoraria Support cosls DcpL'ciation Governance costs 30,000 15.546 30.01)0 15,546 6,159 11,955 1,819 13,590 5,980 118 28,000 10,881 31,527 9.053 995 20,000 7.854 180 6.159 11.955 1.819 13.590 2,990 59 ,601 2,990 59 1,601 65,605 10,809 88,369 112,764 Page 18 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 7 Analysis of governance and support Costs Support ¢osts allo¢ated to eharitable actlvltles Other support Costs Governrdnce t05ts Total 2024 Total 2023 Basls ofallot&ition Usage Tim¢ spent Other expenses Sccrclarial honnraria Independent ¢xamin¢r'5 remuneration 1,602 600 580 5,400 2,182 6,000 5,128 6,000 1.0 i.o I,O(M) -1,202 5,980 9,182 12.128 Support Costs ollocated to other expenditure Other 5UPPOrt ¢osls Tot*1 2024 Total 2023 Publishingv aLlÉvilies Conferences and meetings 2,990 2,990 2,990 2,990 3.927 3,927 5.980 5,980 7,854 8 Trustees remunerfitlon expenses No lrnstees, nor any pcrsons connected with them, hav¢ re¢eived any remuneration from the charity dtuing the year. No i￿SteeS liave received any reimbursed expenses or any other benefits from the charity durillg the year. 9 Independent examlner'l remunerallon 2024 2023 Examination of the financial statements 1,000 1,000 10 T*x2tion The charity is a registered charity and is therefore exempt from taxation. Page 19 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 11 T4Dgible r￿ed asscts Furnlture and equipment Total Cost Al l January 2024 719 719 At 31 December 2024 719 719 Depreciation At l Januory 2024 Charge for the year 6(M) 119 600 I l9 At 31 D¢¢ember 2024 719 719 Iyet book valuc At 31 Decembcr 2024 Al 31 December 2023 119 12 Debtors 2024 202.1 'frade debtor8 Prep¢lytn¢nl% Accrued income 21,556 2,851 8,320 1.250 22,806 28,t495 13 Cash and cash equlvalents 2024 2023 Cash at bank 85.252 71,660 14 Creditors: amounts f%lling due within one year 2024 2023 VAT grattt repayable ALLruals (80) 4,052 2.000 1,000 Deferred income 1,000 5.972 Page 20 The Round Table Limited Notes to the Financial Statements for the Year Ended 31 December 2024 IS Funds Balanee fdt 31 December 2024 Balance at I Januar) 2024 Incomlng resources Resources expended Unrestrleted fvnds General 94.702 100.725 {88,369) 107,058 Balance at 31 De¢ember 2023 Balance It I Jattuary 2023 Incoming resources R¢soure¢$ expended Unrestrlcted funds General 109,854 97.612 1112.764) 94,702 16 Analysls of Det assets between funds Unrestrkted tunds General Total funds at 31 December 2024 Current a¥s¢t$ CuTrcnt liabilities 108,058 1.000 IO8,058 1.000 Totsl net assets 109,058 109,058 L'nrestrlcted fuads General Total fuiids *t 31 December 2023 Tangible fixed èssets cU￿ent assets Currcnt liabilities 119 100,555 3.972 119 100,555 3,972 Total net assets 96,702 96,702 Page21