Charity registratioll number: 528347 The Social Policy Association Annual Report and Financial Statements fiTrr th¢ Year Ended 31 December 2023 David Dixie F C A Dixie A&sociates 167 Black Haynes Road Selly Oak Birniingham B29 4RE
The Social Poli¢y Association Contents Reference and Administrative Detai15 Tru#$, Report 2to7 Stst¢ment of Tnth&S' Responsibilities Independent Examinefs Report Statement of Financ&al A¢tivities 10 Balance Sheet Note5 to the Financial Sthtements 12to16
The Social Poliey Association Reference and Administrative Details Trustees ProfrssorADn Marie Gray, Chair Dr Gideon James Calder. Vice Chair Mr Jatrnes Stallyer, Vice Chair (resigned 5 July 2023) Dr Vikki Borland nee McCalL SectEtary Dr Alexandra Chapman. Membership (appointed 5 July 2023) Dr Jennifer Hamilton. MemrShip (resigned 5 JY 2023) Dr Ixe Jatn¢% Gregory Dr Chui Man (Ruby) Chau Dr Elke HeTrns (resigned 5 July 2023) Dr Enrico Reut¢r Dr Ellen Stewart Dr Kate Summers (re8igoed 5 July 2023) Dr Janice Tripney Mr Ewan Robinson Folde Ajos¢ Dr Naomi Finch Dr Carolyn Snell Dr Steve Rolfe Dr Marku8 Ketola Professor Anya A])med (resigned 5 July 2023) Sieve laftati (resIed 5 Ju]y 2023) Dr Ales$io D'Angelo (appointed 5 July 2023) Dr Hayley Bennett (appoivtted 5 Juty 2023) Other Officers Bar¢mes3 DoreeD Lawrence. President PricIpal Office 10 Queett Strr¢t Place ndon EC4R IBE Ch&rlty R¢glslratioB Number 528347 Banker8 Triodos CAF Bank Iclwities Aid Foundation) The Charity Bank David Dixie F C A Dixie Associates 167 Black Haynes Road Selly Oak Birniithgham B29 4RE Imdependent Examlner Page I
The Soeial Policy AssociatioD Tnte¢s, Report The Itee5 present the 8nnual report together with the finBncial statements of the charity for the yfdr ended 31 Decetnber 2023. Objeetlves and aetlvities ObJea$ 4ftd41•x The Social Policy Association (SPAX fomiedy the Social Administration Aswciation was founded in 1967 and is a registered charity. Its objectives are: - To adYaDce education and learniDg and in particular to advance teachin& research and the di55emination of knowledge itt the field of social policy and administration. - To organise or &ssi8t in orgonising le¢nwe4 ¢l&sses. Meetin conferences and othtt courses of udy for the benefit of its member& - To Conduct or commis5ioD research and publish its r¢suits. - To print> publish and disthTr)ute books and other publicatio that facilitate networks within. and encourdge the developtnent of, the field of social policy. - To make represet)tstion to government and otherrelevant agaleS about the activities of the association. - To SP¢Dd fi8 and employ pwpk in OTder to firtherthe pwposes of th¢ a&wciation. Publlc benefik The tntee5 confllm that they have complied with the requirements of s¢ctiOD 4 of the Charities Ad 2011 10 have due regard to the public benefit guidance published by the Cbarity Commission for England Wal¢s. AehleY¢ments aDd performnc¢ We e delighted to report that the finances of the association continue to be healthy and sow. As (Ff December 31sL 2023, the end of our fiDallcial year, we have a totsl current assets of £345,886. compared with £345.632 at year end 2022 and £308.788 at year end 2021. In 2023 our totsl incorn¢ w&8 £164219. total expenditure was £163.9&1 Dieaning that the moverneDt totalled +£255. ID doing 50 th¢ asWfi8tion commxtted more funds tOW8rd Opportimity Grdnts, supported additional Social Policy Groups. ted out Strat¢gy Reseorch repor4 ommissioned 8n animalioD projnotional film and covered the remaining wsts for the Social Poli Teaching PmvisioTJ Study. Trends itt ineome Conferenee income in 2023, n]ade up 63Yo of our overall incorne (in 2023 it Wds 47Y•). The. itkcome generated from Tt]mbers' $ubwriptiOS in 2023 waq at 22Q/o (in 2022 tt Wa8 33Yts) with the remaining income made up of roYty payments at 15Yo of Ove11 income (in 2021 it W25 200/1). The slwe of Income fro mernbership and royal(ies did not drop per se, ID fact it increased but at a lower rate to the income geDerat¢d by the annual ollf¢rence. Cottfepett¢e Income CoDf¢rcnce itt¢oJne 2023 £101.506. Thi5 a substatitiv¢ increasE from previo$ year5 (£49.377 iti 2022). Equally the ¢xp¢nditure for tbe collferEll Wd5 higb¢r in 2023. £91.234 (in 2022 it £23,882) offtring a profit of £10,272. W¢ will conlitiue to use the'ifyhouse. m(xJel to our annual conferences. Page 2
The Social Policy Association Trnsteesl Report Menthrsh¥p iucome The income genernted from members, subs¢riptions in 2023 was at £36,638. tn 2022 it was £34,612. Membetshtp income is detern]ined both by the rnte but also the level that members wntriThut¢ ai. As well as ensuring that membership fee5 keep pare with inflation. it is also important to ¢nsure that members are contributing * the correct level. The fees h&v¢ not been raised in the last few year5 du¢ to the combination of relatively for the last few y¢8rs. wages iti the sector and the ongoing cost-of-living LYiSiS. We continue to monitor &nd review the fee stru¢ture we do also want to tske into consideration the financial circunutances wkthin the sector. Page 3
The Social Policy Association Trusteu, Report Detsilw 0fmenth¢ endofDee 2023 TotAI membe.. 607 This is up on the memlKrship reported 2021 of 517 and 2022 of 561. There is a parti¢ular in International Band 4 and a slight deCree in UK Band l. The overall illcrase in emberShiP is welcome. . ,. Type ol membership Fee 2020 2021 2022 UK Band I £40 127 136 99 UK Band 2 £75 55 57 51 57 UK Band 3 £95 114 120 138 UK Band 4 £125 87 97 117 International Band l (inc PhD)£4 International Band 2 £75 28 36 50 17 16 18 Inten]atioDal Band 3 IntematioDal Band 4 £95 14 20 30 49 £125 19 34 UK Organisation International Organisatio Economic South Missing Data £100 io £50 £10 28 39 40 35 Total 457 517 561 607 01¢ that UK Band l in this table include UK PhD sents and Undergraduate StIents *4 missing m¢mttrs can be explatned by thiJs¢ who have'administralorf rigbts but are not paid m¢mbers. Royolii¥s Royklties income was £21.724 in 2023, £21,267 tll 2022. £32,614 iti 202E and £8.483 in 2020. This includes royaltÉ¢s paid in respe¢t of our journals (Canknidge University Pr) plus other publications {&g. joint publi¢atlODS with Policy Pre55). Administrative eosL4 2023, the SPA made a considerable payment to cover athninistrative 5UPPOrt costs, with Victori& Dufy {Ul$l¢r University) providing valuable as5islanc¢ and support io the SPA exce1Ve team. P4ge 4
The Social Policy Association Trusteest Report 2023 Opportnity Graots During 2023, the SPA c¢)ntinued with their nvo annual calls for applteants for opportunity wts. Thi5 scheme is designed to enable events promoting soci21 policy by- for example- h¢lpillg to ShowSe research, exploring i&sue5 in l¢aming and te8chin& beginning conversations. making coA]nections between different acadEmi¢ perS[rtiveS, and britigirtg together academics, sdeDts, practitioners. service-us¢rs. policyinakers and othe with a stake in social policy. For the 2023 Calls we decided to split the graots into two tiers.. Cat¢gory A { to £IOOO) and Category B (up to £5000). In the frst (spring) round for 2023 the SPA committed to fijnd three applÉcations, all iti Catcgory A, i¥ith atotal expendttire of £2780. Please sff below the main applicanl topic aDd amount awarded. Idil Akinci (Univ¢Tsity of Edltibgh) Race, Power and Social Policy (£lOOO) Michael Orton {UniYersity of WaThvick) Setting a New Agenda on Social Security (£980) • Gary Crai8 (Independent)'R" and Social Research (£800) In the second (autlllnn) round for 2023 the SPA committed to fitnd five applicatiODS- two iti Category A and thTee in Category B- with a totsl eXpe[lture of £14.702. Plose see below the appli¢ani, topic and amount awarded. Kelli Kennedy niversIty of Yorkl Uniyersity of Sheffield). Facilitating Interdisciplinary Communication between Social Policy and Scientific Researcb {£lOOO) JiaxiD Liu (Universty of York), PronK>ting S14] Policy Research on Ag¢iDg, Family* and Care in China (£iooo) Vi¢ki Dabrowksi (Liverpwl Hope University), Emwwering Change.. Worksbops for Effective Actio 1£3210) • Fiona Dukelow (University COlle Cork), Alklsland Social Securtty Network. iEnagining the fiJbJre of social security on the island of Ireland, (£4530) Katherine Smith {Strathclyd¢ University), Witlless SeminaT5 and an SPA Confff¢n¢e Symposium exploring 25 Years of Devolution. (£4962) Pollcy Groups We issued a call for additional Social Policy gr()ups to the three operating Employrnent Policy" Housing PolÈ¢y" CliDiate Justiee and Social Poltcy. In addition to these three groups, the SPA decided to award and fijnd th¢ foUowiTrg policy wups: FallY policy Pe510[]5 policy Tax p)li Soc&al Hxrni These groups will work collaboratively to.. • revi¢w k¢y poli¢y developments in the UK both at the levcl of the Westinirtthr UK government alld th¢ govemments ID the devolved nations drawing on existing evidence. . kelp stimulat¢ academic. public and policy debate abo key social poltcy issues as well as provide JDa¢ertal Use& for social policy sents and teachers. . fornL the basis of networks to brtng together members ofth¢ SPA with interests in each field, for exampk org8nising syii)POsia at the SPA conference. ' ¢xganise poli¢y roundtables and workshops to actively engage with policy-maker4 practrlioners and othcr academics beyond CUTrent SPA membeE5hip but with a view io encouragitjg people io join the SPA. Page 5
The Social Policy Association Trnstees, Report All our Policy Groups have rlear plans to consider&nd report on issues rel&ting to equality, diversity 8nd inclusioll. In pwttcular, the ways in which policy affttcts BlacL Asian alld Minority Ethnic (BAME} people, Wome disabled people and thos¢ In other groups wlth prOt¢ed characteristics is a key eoncern for all. Tbe groups ore fimd¢d ftir two years (October2023- September 2025). Flnattei41 iDStruments ObJecdvaT andpollei The chartty's activities ¢xp05e it to a number of finaDcial risks includfftng credi¢ ri$K cash flow risk and liquidity risk. The use of finallcial derivatives is governed by the charity's poli¢i¢s appToved by the board of truyt¢e& which provide written principles on the use of fillancial d¢rivatives to manage th¢s¢ risks. Th¢ charity does not uge derivative financial instrumcnts for speculative purpos¢5. Credltrtsk The charity's prin¢ipal financial assets are bank balances and trdsty trade other receivables. and inYe5troents. The charity's credit risk is primarily attributable to its trade rtteivables. The amounts presented in the balance sheet are net of 8llowance5 for doubtful receivables. An allowance for impairment is made where there i5 an identified Ios5 event whi¢14 based on preytous experienc¢, is evidence of a reduction iti th¢ r¢coverability of th¢ ash flow5. The credit risk on liquid filnds and derivative financial instrLullcDts is lirnited because the untetparties are banks with high credit-mings lsed by international Credtt-rdtillg agencies. The chatity hlg no significant concenirntioD of credit risk with exposure spread over a large number of counterparties and customers. Page 6
TIAe Soci¥41 PoAiey Assoeiation Trustee5' Report Reyerves PolleN In line with our commitment to etJsur¢ the financiftl Stability of the Association, we decxded to f4JrnMlise our fin4n¢ial reserve policy and the poli¢y to set our cutrent reserve at £130.000 was adopted by the trustees of the SPA at our April 2019 Executiv¢ meeting. Our SerVe balances with Tridos bank. On 3 1st D¢ember 2023 th¢ balaTV was £134,845.09. We decid¢d to open new 5avin8s aOunt with the Charity Bank and place w initsal deposit of £IO.000 ID a one-year fixed-temi savings aCCoL We aim to deposit an additional amounl up to £85,000 to minimise o exposure under the Fillan¢ial Services Compen5alion Sche]ne. Page 7
The Social Policy Association ststement of Trnstees, Responsibilities The trusttts are responsible for preparing th¢ trustee5' reMI and the financial statements in xcordance with the United Kingdorn Acwuniing Standards (United Kingdom G¢nerally Accepted Accounting Practice) and applicable law and tEgulatio. The law applicable to chtirities requires the ITstees to prepare finattcll statements for each financial year which give a true and fair view of the state of affairs of the chartty and of the incoming resources ond appIltiOn of r¢sources of the charity for that perio(L In preparing these financial statemell the trustees 8re required to.. s¢l¢cl suitable ac¢ounting policies and then apply them consislentty. obs¢rve the methods and principles in the Charities SORP; make judgements and ¢stinRtes that are reasonable and pnthn¢' state whether applicable accounting standards have been follow¢(L subject to any material departures disclosed and explained in the financial statements. a¥HI prepare the financial statements on going concern basis unless it is inappropriate to presume that the charity will conlinue in busines5. Th¢ trusttts are responsible for keeping proFW accounting records disclose with rOnable atw at any time the financial position of the charity and enable them to ensure that the financial ststem¢nts comply with the Charities Act 2011, the applicable Charities (Accounts and R¢ports) R¢gulation4 and the provisions of the constitution. The tnL%t¢es art also restKJnsible for safeguarding the ets of the charity and hence for taking reasonable steps for th¢ prevention and detection of fraud and other irregtslarities. Approved by the trust¢¢s of the Charity on 4 Juty 2024 and sId on its behalf by.. Professor Ann Marie TtWSlee rny Page 8
The Soeial Policy AsSOCi¥dtion Independent Examiner's Report to the trustees of Tbe Social Policy AssoeiatioD I reporton the accoTrthts of the clwity for the year ended 31 December 2023 which are set out on pages 10 to 16. Respective rtySIbIlitieS of trustees and ex4miDer The tnJste¢s are responsli )1¢ for the preparation of the accounts. The trustees consider that an audit is not requkred for this year under srftion 14412) of the Chorities Act 2011 (the 2011 Act) and that an independent examination is n¢¢ded. It is my responsibility to- txomine the accounts under section 145 of the 2011 ACL. to follow the procedures laid dowD in the general Dir¢ctions given by the Charity Commission under section 145(5)(b) of the 2011 Ac¢ and to sthte whether ptirticular have ¢ome to my attention. B45is of indepeodellt ¢xainiDer's report My exalnination was carried out in ac¢ordance with the genera] Directions given by the Charity CoD*nission. An exaTlliDation includes a review of the accountittg records kept by the ¢harity and a comparison of the accounts presented with those re. It also includes consideration of any unusual item5 or disclosures in the accotsnts, aryd seeking explanatious from you L8 trustees concerning any such matters. The procedures undertak¢n do not provide all th¢ evtdence that wouId be required in an alldiÈ and consequetttly no opinion is given as to whether the aOlts present a 'true and fair view, and the report is Itmited to those matters set out in the next statement. IndepeTrdeDt examlner'5 $tat¢rnent ITh cotmectton with my exaMTrllatiO no matter has com¢ to my attention: (l) which giv&s me r¢450nable CaSe to beli¢v¢ that ITh any Anateria] respect the Tequirements: . to keep aclltIng re¢ords in accordance with se¢tion 130 of the ChaTitics Act 2011" and . to prepare aoUnts whtdTr a¢¢ord with the accounting records and compty with the accouttting requirements of the 2011 A¢t - have not been or (2) to which. in my opinion. attention should be drawn in Order to enable a pmp¢r uDd¢Thtanding of the a¢rounts tr) be r¢a¢heiL David Dixie F C A Dixie Associates 167 Black Haynes Road S¢lly Oak Birmingham B29 4R 4 July 2024 Page 9
Tbe Soeial Policy Assoeiation Statement of Financial Aetivities for the Year Ended 31 December 2023 Unrestrieted fuDds Totsl 2023 Nots Income #nd EDdowments from: Charithble activities tnve5tment income 160.641 3,578 160,641 3.578 Totsl Encome 164,219 164,219 Expenditure OD: Chtirltable 2etivitie5 (163.964) 1163,964 Total Expen¢Jiture (163,964) 163,964 Net movement in fid5 255 255 ReeonciliatiDll Otfllnds Total lldS brought forward 345,631 345,631 Tota] funds ¢arrted forward . . 345.886 UDTfStricted funds 345,886 Total 2022 Note Income aDd Endowments froin: Charitable activities Inveytment income 105.511 885 105,511 885 Total Income 106,396 106,396 ExpeDditur¢ OD: Charitable activiti¢s (69.552 (69,552) To¢al Expenditute (69,552) (69,552) Net movement in funds 36,844 36,844 ReconciliatKbn of funds Tothl funds brougbt foLivard Totsl fund5 carried forward 308,788 308,788 345.632 345.632 All of the chHrity's aclivities derive from continutng operations during the above tsvo periods. The fidS breakdown for 2022 is sbown in Dot¢ 8. Pag¢ 10
The So¢i41 Policy Association Oiegistration number $28347) Balance Sheet as at 31 Deeember 2023 202J 2022 Note Curretst assets Cash at bank and in hand 345,886 345,631 Creditors: Amounts f4lilThg due within one yr Net assets 345.886 345,632 Funds ofthe ehxrity: URrtStrieted Income fund$, Unrestricted fimds 345,886 345,632 Total funds 345.886 345.632 The financial Statennts on pages 10 to 16 were approved by th¢ trustees. and authoTised for issue on 4 Juty 2024 and signed on their behalf by: Professor Ann Mari¢ Grny Tntstee Dr ADlonios Roumpakis TTU5tee Pag¢ 11
The Social Policy Association Notes to the Finaneial Statements for the Year Ended 31 December 2023 l Aeeounting polieies Statement of compliance The financial statements have been prepared ID accordance with AccounttDg ReportiEJg by Charitie8: Stat¢ment of Recommended Pra¢tice appIicabl¢ to ¢Jwities preparing th¢ir accounts in accordCe with the Finall¢ial Reporting Standard applicable in UK al Republi¢ of Ireland (FRS 102) (¢ffective l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic or Ireland (FRS 102) alld tb¢ Charities Act 2011. Basis of preparatlo The Social Policy A550ciation meets the definition of a public ben¢fit entity under FRS 102. Assets and liabilities are intha]ly recognis¢d at histori c05t or trawaction value unless oth¢Twise stated in the relevant ac¢ounting policy notrs. Exemptlon from pr¢pariDg 8 flow Staternellt The charity opted to early adopt Bulletin I published 00 2 February 2016 alld hav¢ therefo not in¢lud¢d a ¢ash flow stat¢ment in these 6nallcial staternen Going CODC¢Tn The tThstee5 Consid that th¢re are no Materi uocejtsinties about th¢ charity's ability lo continue as a goiDg concern. Income #ttd endowments Expenditure All expenditure is rerogrnis¢d once there 1$ a l¢gal or conStrU1ve obligation to that expenditure. At is probable settlement is required and the amount ean be m¢asur¢d reliably. costs are allocated to th¢ applicable expenditure heading that aggregate simtl8r costs to that category. Where costs cannot b¢ directly &tributed io particular headings they have been allocAted on a basis wnsi5tent with the us¢ of r¢souw, with central staff Costs allocated on the basis of time spenl and depr¢ciation charges aUo¢ated the portton of the 85sei's use. Other Support costs ar¢ auocated based on the spread of staff costs. Churilable aedvliies Charitabl¢ expenditure comprises those costs incurred by the charity in the d¢livery of its a1vItieS and services for its beneficiaries. It iludeS both costs that can b¢.allocoted dtrectty to such activtties and those costs ora indire¢t nature essAry to support thenL Support costs Support Costs Én¢lude centra] fimction5 aud have been allocated to activity cost categories on a basis consist¢nt with the us¢ of r¢sources, for example, allocating prop¢rty Costs by floor areas. or per capit4 staff costs by the time spent 84d other costs by their usage. Gov¢rnan¢e eosts Th¢se include the Costs attrUble to the charity's compliance with wnstitutional and stsLutory requirement% in¢luding audi( strategi¢ maDagement and tntees,S tneetings and reitnbursed expens¢$. Page 12
The SocRal Policy Association Notes to the Financial Ststemenls for the Year Ended 31 Deeember 2023 T4x8ti0 The chartty is considered to pa55 the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the derlI10n of a clwitable company for UK corporation t&x purposes. Accordingly, the ¢harity is potentially exernN from taxation in resptcÈ of yncome or capital gains received within categories ¢ov¢red by Chapter 3 Part I l of the CoTpofdtion Tax Art 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gaiD5 are applied eXcI81ve1Y to charltable purposes. Research and devdopmeDt Research and development expenditure is written off as incurred. C4sb and cash equiv*lents C&8b and cash equivalents comprise cash on hand and call deposit4 and other short-tern) bighly liquid investjnettts that are readily convertible tsy a known amouttt of casb and are subject to an insignificarn risk of change in value. FuDd structure Unrestricted income fimds are genera] ffijnds that ar¢ available for use at th¢ try5t¢ess discretion in fillth¢r8n¢e of the objectives of the charity. FiDat)ei#l itssirurnents Classlficathn FiDan¢ial assets and Snancial liabilittes are Tttognised when the charity bewmes a party to the cotthctU41 provisions of the iDstrum¢ut Financial liabilities and equity instruments are cl&8sified according to the substance of the contractual arrallgem¢nts entered into. An equity instnunent is any contre¢t that evidences a residual interest in the assets of the charity after deductlng all of its liabilities. Recogmltlon ottdmeasurement All financial assets and liabilities are initially measured at transaction price (including transaction costs), ex¢ept for those financial assets ¢lwified a5 at fair value through profit or loss, which are ijhitially TDeasuTed at fair value (which is norn1]Y the tsansaction price excluditig tTan5a¢tion costs}. unless the arrangement constitutes & financing transaction. If an asement constitutes a financing transaction, the fillallcial asset or finan¢ial liability is measured at the present value of the future palents discounted at a llwrk¢t Tate of interest for a similar debt instrumenL Ftnan¢ial assets and liabiltlies I only offset in the statement of financtal position when. aDd only when there exists a 1¢¥411y enforceable right to Set off the recognised amounts and the charity Intends eitber to settle on a net b&si$ QTIO reaiise the a&t and settle the liability simultaneogIy. Fijwicial a&sets gr¢ dertgnIsed when and only when a) the cotrtractual rights to the cash tlows froDI the financial asset expire or are Settle b) the charity tTansfeTS to another paty substantially atl of the risks and rEwards of ownership of the financial t. or ¢) the charity. despite having retained some, but not all, sigoificant risks aod rewards of ownership, b&$ transfeTred control of the 8ssetto another pw. Fioan¢ial liabilities are derecognised only whell the obligaiion specified in the conltxth is discharged. cancell or expires. Page 13
The Social Policy Association Notes to the Financial Statements for the Year Ended 31 December 2023 2 Income from charithble activlties Unrestrkted funds Total 2023 Tot¥1 2022 Gener41 Conferences Royalties Oth¢r events Subscription5 frorn members 101.506 21,724 773 36.638 101.506 21.724 773 36,638 49,377 21.267 255 34,612 160,641 160.641 105,511 3 1nve8tm¢nt lll¢ome Unrestrietrd funds Total 21123 Gener*1 2022 Interest re¢eivable and simil&T income: Interest Teceivable on bank dewsits 3,578 3,578 885 Page 14
The Social Policy Association Notes to the Financial Statements for the Year Ended 31 Deeember 2023 4 Expenditur¢ on ehAritwble aetivitle5 UDrestri¢leil fuDd$ Total 2023 TotAI 2022 General Note Conftrences Publ2catiODS 91.234 17,011 13.282 17,96 6,236 60 17.160 91.234 17.011 13282 17.961 6236 23.882 6,0(X) Administrdtion etc. Website and member servi Bank cbarges Legal aud profe&gional SeIc¢S Atlocated support costs Governance costs 4,385 81 17,160 7,180 .020 1,020 1,020 163.964 163,9(A S Analysis of govenMDce and Support eosts GoYernaM¢¢ Costs urtrIcted funds Total 2023 TotAI 2022 Gen¢rnl Indeident examiner fees Examination of the fman¢ial 3tstements l£gal fres 720 3(Kl 720 31)0 720 300 ,020 1,020 1,020 6 Tru$t¢es remuneration and expenses No trusttts. nor any persons connected with them, have re1V¢d any remuneration from the charity duritig the year. Page 15
The Soclal Poli¢y As50¢iation Notes to the Financial Statements for the Year Ended 31 December 2023 7 TaxAtion The charity is a regist¢T¢d ¢barity and is th¢refoTe exempt from t&KatiOn. 8 Funds B4laDce #t 31 DeCeber 2023 Balan¢e at I JaDuary 21123 Ineomlng r¢8ourc Resour expended Unrestrieted funds General 345,631) (164219 163,964 345,886 Balanee At 31 Dec¢tnb¢r 2022 BalaD¢e #t I January 2022 ID¢omlng r¢yourees Resourees expended Unrestri¢ted funds Generdl 308.788 106.396 69.552 (345.632 9 AnAIysi5 of lle¢ #$8ets be¢ween funds Unrestricted fuDds General Total funds Current ass¢ts 345.886 345,886 10 ATr•lysi8 ol Det At l January 2023 At 31 December 2023 C*sh liow Cash at bftnk and in hond 345.634 255 345,886 Net debt 345,631 255 345,886 Page 16