The Soclal Pollcy Association Annual Report arKI Financial Statements lorthe Year EThJed 31 DO¢be1 2025 rnott Ravensc ftLlm 13 Portland Road Egbaston Blm)lThJharn B169HN
The Soclal Polky Assoclallon Contentg Relefencè and Admlnlslrallvg Dotsbls Report ol the Truslee$ 2to6 stalemenl ol Trust¢es' Respons111@$ Indnt ExamineTS Report Statement of FinarK4al kbvibes Balance Sho&1 10 Notes to Financial Stalements 11 to 15
The Soclal Policy Assoclati¢>n Reference and Admlnlstrartlve Dgts118 Trustees Prnlessor Ann Marie Gray. Chair Di Gideon James Calder, Vice Chair Di Stephen Roll&, Sgcretary Pfol Athina Vla¢hanloni, Treasurer Df Aexandra Chapman, Membershlp Dr Naoml FIh. Marketing Mr Ewan Robinson, CommunieAllon Dr Jan1¢¢ Tripney. Publications Dr Hayby Bgnn9tt, Awards Or Colin Clark, Conl$r8nces Dr Aassio D'Angelo, Impa¢t and Engagem8nl and Joumal Edltor Prol Christina Pantazis, Strategy Folsadè oSe, UGJPGRIECFI Dr Clemmie Hill O'connor, UGIPGRIECR Di Dianne-Dorninique Th8akston&. Equaltie5 Di Alexandgr Chapman, Teaching aThJ L•aming Dr Enrico Reultrr. Tèaching and Learnlng Dr Chui Man IRubyl Chau, Intemational Dr Elizabeth Bailey, Intemallonal Dr Lee James Gregory Dr Markus Kelola Other OIIic8fS Barongss Doreen Lawre10. Pr8sid8nl Charity Nunknr 528347 prtnclple oir 10 Queen Stregl Pl London EC4R 1BE ankers Trlcths CAF Bank Icharfues Ald Foundalionl Thg Charity Bank 1rn19pendent Examinèr Bèn Eley FGA Bamelt Ravenscroft 13 POall Road Egbaslon BlimSn1aM B169HN Pagè I
The Soclal Pollcy As8oclallon Trustee8 Report for the year ended 30 June 2025 Th& Irustges presgnl Ihelr report aThJ financlal slatemgnts of thg ¢hui¢h for the year eThJing 31st Dec8mb9r 2025. Oblectlvè8 and actlvltlg8 The Social PolicyAsso¢iafjon ISPAI. lomigrly tho So¢ial Adminlstrallon Asso¢iallon was loundfyd in 1967 is a registered charity. Ils obieclNe$ are: ~ To advance education and18am5ng arKI in parti¢ular to advance leactruro. research and the disseminalon ol krth%4eiJJ& In th9 Ilokl ol soclal pollcy and admSnlslratlon. To organise or assist in organi5ing lectur8s, classes, meeliThJ5, conferences and other courses of study lor the be111 ol its Memb$. - To cOndl OT commission research and publish Its f8SLths. To print, pubtish and distribjle books and olher publication5 that lactlilale nOtsrkS wiihin, and tho evelopmenl of. th& fi&kJ ol wcial polioy. To make representation lo governmtrnl and other rèltrvant agenci88 about the adfvitles ol th8 a$srialion. - To spgnd lunds and employ pe9 in ordgr to ftirther the purposes of the association. The trustees confirm Ihal they have complied Ihg roquilgmgnls ol 5o¢1ion 4 01 th& Chariligskl 2011 10 have due regard to the publ... bènefit guidance published by th• r.harrty Commrs5ion loi EThJland an(J Wgle8. We are pleased to report tha1 the flnance8 Ot the assc¢Sation continue lo be healthy and souncl. A8 of 31st December 2025. the end ol our thnancial year. we had lolal assets 01.. £1S5.505.93 IGAFI + £142.351.93 ITriodosl + £85,000 Ichartiy Bank) - £382.857.86 compared wlh £380.683.79 tn 2024. £345,886 In 2023, and £345.632 in 2022. In 2025, our total irKome Yras £219,393.22, compared lo £182,645 in 2024 and £164,219 in 20231 and our total expenditure was £218,289.86, compared to £146,775 in 2024 and £163,964 in 2023- meaning that Ihe movement tolalled +£1.103.381-£35,870 in 2024 and £255 in 20231. The association deposltsd £85.000 into a savings account wth Charity Bank, and as of Dec 2025 had £142,351.93 in a savings ac¢ouni with Trl(Klos Bank. These dèwstts are currentty c&pture(l in the lolal expendllure as othgoinp transfers. In 2025, the assoclalk)n rgcelvgd an Income of £3.759.84 from the Charity Bank (ln retum lo a £85.000 deposll to a one-year fixed term Savings account). In 2025, tho association reconled £3,796.69 from TwiLx40s Bank in inleresl. In 2025, the association committed more funds toward OFportunity Grants, continued to support existing Social Policy GroLPS and expanded its SUFVOrt to more Sociaj Policy Groups. Tr•nds In In¢omo Conler&nce Income In 2025 made uplust 0r 7V/. of our ovgrall Incomg (ln 2024 It was 83%). The Share ol in¢omo g•neral from membws, subscriptKsns in 2025 was just under 1/. Iln 2024 il was at 20Y and In 2023 it Was al 22Ytyl, whlle royalty payThgnts made 6.5% of total Incom8 lin 2024 it was 10% of the wrall In¢ome, and in 2023 It wa8 15%). Th& incoff from m&mbershlp was £40.649.26 In 2025. compargd lo £38,659.17 In 2024 8rYJ ¢36,638 in 2023. The Income from royallles was £13.924.96 In 2025 compared to £18,709.61 in 2024 and £21,724 in 2023. Page 2
The Soclal Pollcy Assoclallon Trustees Report lor th8 yoar ond8d 30 Jung 2025 Conferenee IDeom• Conference income in 2025 was £158.379.72, compared lo 2024 %then11 was £120.383.61 and 2023 %then it was £101,506. The full expttnditure lor the 2025 conference was £133,521.35, ¢ompAred lo 2024 It52.494.27) and 20231£91,Z341. Tho 2025 conference suplus was £22,858.37. We will continu& to use the'in-house. model lo njn our annual conferenc&s (including the Annual Conferences of 2026 and 2027). IIBryIxlp Ineom The Irome generated from m8mb&rs' subscriplKJ)s In 2025 was at £40,649 demonstrating a steaty Increase from 20241£38.6591. 20231£36,6381 and 20221£34,612). mbership income ts dotermlngd tjoth ty the rale but also the levèl that m8mbers contrlbule al. W9 continue I monitor and rawaw the fee 5truclur• but we do also want to take Into considèration Ihg Ilnancial circumstances within the sactor. We will continve to rn0nrt the memb8T$hip ial&s and we wll rewsit Ihelr pricing, after taking Into consi(Sèration Inflation and wider linancSal cirwmstancas. Total m9mb8rs: 653 This is up on the mernbership reported In 01561, 2023 01607 and 2024 of 631. Thg overall inethasg in membership 18 welcomo and continuès each year. Mumbtt trmber Numl>or Nwnb 2024 2025 UK Band 1 UK Band 2 UK Band 3 UK Band 4 Intèrnational Band 1 {4 PhDI International Band 2 International Band 3 Inlelnational Band 4 UK Organisation Inteinatlonal Organisation EC0TrJm South Earfy Ca91 Transition Missing Data £40 £7S £95 £125 £40 £75 £95 £125 £too 131 133 47 136 51 124 97 57 138 135 118 51 18 41 35 62 21 16 18 49 19 35 10 £10 £40 40 27 16 20 561 631 Nole that UK Band 1 In this table include UK PhD sbjdènls and Undergraduate students . Earfy Career Transmlon Band was introducod In 2024 Incorn¥ Irom royalties was £13,924.96 in 2025 {compad to £18.709.61 In 2024 and £21.724 In 20231. This includes roydties paid in respect ol our journals (Cambridge Unweiwty Press} plus other publications le.g. ourlolnt publications with Poll¢y Press). The Irm8 from royalties was lower in 2025 than Ihg eost ol Open Attess publication ol Social Policy Review and $h*ing a printed copy members1£19.923.931. Page 3
The Soclal Pollcy Assoclatlon Trustees Report for the year ended 30 June 2025 Admlnlstratlve costs In 2025, the SPA made a considerable payment lo cover admiroslrative SUFVOrt costs. Miss Vicloria Duffy {Ulsler Universrtyl providing valuabfe assistance and svppori to SPA ex8¢utive team. full ¢osl ol the administrative support offer8d by Miss Dulty was reconci19d In 2025. In March and OctctT 2025 the SPA agaln mad8 calls lor appIantS lor Cpporiunlty Grants. Thls schema 1$ designed lo enable events promoting social policy by- lor exarnplg- helpSng lo $how¢ase r&sgar¢h, explorl issues in leamiThJ and taachlng. innIng cOnrSatIOns, maklng conneclitsns belyfftn different acailemic perspectives. and brfnging logèth&r acadams. slud&nts, prac1ilitsners, seICe-users, pOIYMakwS and others vAlh a slake In soclal policy. As in 2023 and 2024, for these calls again split th8 grants into tiers: Category A lup to £1.000} and Category B lup to £5.0001. Tho su.8ct-rnatt0r was cyen. but th thr9e prlortty argas lJgnlillgd as local points IN engagemènt.. early earaèr rasèarchers.. thg third soctor. local putli¢ sector organisa1Kins. •h 2tr25 c•ll In this r¢11 tho pan91 approv9d thr99 application$- all in category B- to a total expetNJlture of £10.680. Category Lead Applicant{sl InBtrtution Project T0 Amount esled SteV9n Ballanlyne Freig Unbvgrislal B¢rtin SkSlls Policy in t UK Claim Back the Fulu¥e - sltainable Welfare Worksh) Who participates ? A one4ay workshop on participatory researd) sLKial I £1.180 Thomas Rochow UnNtirsity ol Glasgow £4,500 Uisce Jordan Univ8r8ity of Yo £5,000 lobor 2025 11 In the autumn round we commrtted to fvnd four 8pph'cations- all in Category 8-10 a totsl expendllure ot £12,280. Plèase s8e beknv the main appllcanL Lop and amount awarded. Cat8gory Load ApKltcantlsl Institutn Project Trtle Amount Re u&stod Llsa Gamharn Universlty ol Stratlyde Skills Poll¢y In th8 UK Brfdglng pollcy and research.. Towards Inlerdiscwinary &vldan¢&-basgd solutlons lor Icod Inso¢urity in the UK and be So¢ial wllcy aThY de¢lslon- maki in times of Tolest Creating participatory policy solutions lor disabili benefits £1,180 Crndy Leung Universlty ol York £4,550 Robyn Farett Unfversity ol Dorby £2,570 Kale Summers LSE £3,160 Pagè 4
The Soclal Pollcy As8oclallon Truslees Aeport for the yaar onded 30 June 2025 2025 Caroor Laun¢h Ros•arch Grants Also this year. we launched 8 n8w lundiThJ scheme specrfically aimed at Early Career Rese8ichers IECRSI. and dedicated to the facllitalSon ol research. The aim is to create space lof ECR SPA members lo suslaSn Ihoif r8sear¢h mr)mentum and securt concrete a¢hl&vements at a stage in their career when these things can bg tspecialfy d)allgngSng. due lo other pressures and domands, arKI an in¢r9asingty competitive research funding environment. Funds up lo £l.000 could be applied for. with the possibilty of follow-up funding in subsequent rounds. Against all expèctatlons glven the widespread sense ot the p)tsntial value ol such an award. thls schemo recelved only one applicatlon. The ar4)Ilcallon was successful Applicanl InstSiullon Project fille Amount ueslèd Arvind Kumar Unlverstty ol Hereford Ethnic DisCriminatn in the Indian Clvll SeNce Examination £1.000 In the AUrnn 2025, we issued a call lor new SPA Policy Groups and IOT ext8nsk)n ol acllv411&8 of th8 existing groups. Following applications. th8 SPA decKled lo ¢on¢inu8 SUPPOrting thè loll¢M%ing 6 wlicy groups.. Employment Policy.. Housing Policy,. Family F#)licy.' Sooal Hami. Pensions policy- Tax policy., and to start supporting Ibvo new groups on Poverty and on Migration. Each group is funded for Iwo ygars (January 2028- December 20271, yth an allocation of £3.0 per group over the pefic&l. {er the course of 2025. the 9roups have undet1aken a significant number ol aetivities. indudino online seminars, in-person events. prOdtIon ol blogs- these are summarised on the SPA website and have been widely advertised on the SPA online channels. The groups have dso been inVoed in organlsirrfJ Ihemalk pan&ls lor Ihg 2025 SPA conference and have taken part in the Social PoIY and Soci8ty Annual Event (Jun& 20251, pre80nling analysis of UK policy dovebprnenls since the last general election. All groups have been provKled with written gui(lelines lon how to use and e$S thelr allocat budget and o issues ol external communications), have been invited lo take part into an online coordination meeting at thts start of each academic year. and have kept in regulaT coniact wllh the relevanl members ol the SPA Executive Comrnillee. Page 5
The Soclal Pollcy As8oclatlon Truslee8 Report for Ihe year ended 30 June 2025 Flnaclil In¥trumeiii# The charity's a¢llvhbs exwsg h to a number ol thIala1 rlsks Indudlng credll rtsk. cash flow iisk and Ilqukllty risk. The use ol financial darivalives is govemed by the charity's wliaes approved by th8 board ol INslees, which provide written principles on the use ol ffinan¢ial derEvalives to manage these risks. The charity does not use derivativè Ilnan¢lal instyuments lor speculative wiposes. The charity's prfnclpal linanoial assets arè bank balances 8nd cash. tr&Je and othèr I8¥4b18$, and Investments. The chaiity's ¢r8dit risk is primarily attritrArtablè to Its tradg receivables. The amounts presented in the balance she81 are net ol allowancas lor doubttul receivables. An allowance lor impairment 15 made ythe there is an idenlilied loss ent which. based on previous eJperi8nc8. is &wden¢e ol a reducb'on in the recoverability of cash flows. The Cfedit wisk on Ilqukl l(tnds and deiivatwe finartial inslwments is limilgd because Ihe countgrparties are banks high cr8dil-ralings assigned by intemational credil-raling aggnc19s. The charity has no siunilicanl ¢oncantFation ol credit risK Mlh gxp)sur8 spread over a large numbor ol counlgrparhes aThJ customers. In line Ythh our commitmgnl lo erwre the financial 8tability ol thg As$ocialion, we decided to formalise oyr financial reserves policy and Ihg policy to set our current re59rve al £130.000 was adcpted by Ihe Trustees ol the SPA al our April 2019 Executive meeting. Our reserve balances with Trtodos Bank. On 31st December 2025 th& balance was £142,351. (compared lo £137.792.21 by end DOnr 2024 at)d 134.845.09 ty end Decembar 20281. We decided to f8-inve8t £85.000 in a one-year fixed-leTm saviNJs account wlh the Charity Bank (Letter Iwm Charity Bank daled 15 October 20251. this will rnalure on 14 October 2026. We are aware that the amount ¢OVgrèd by the Finarrial Services Comp8nsats)n Scheme was increased lo £120,OfK) in December 2025, and we will Consider this threshold in our lutuie decisions about sawngs ar£ounts. Pago 6
The Social Pollcy As$oclatlon 30 June 2025 The trustees are responsSNe lor pr8paring the trustses. report and thg financial statemerts in accordance wth the United Kingdom Accounting Standards Iunited KirKJdom G9n&rally Attepted Accounting Practice) and applicable law and regulations. The law appliCae to charitiès requires the trustees to prepare ffinancial slalements for each flnancial year which glvè a true and lair view ol ttje slate of aflairs ol the charity and ol h8 incoming resources and application ol resources ol th¢ tharity fer Ihal perlod. In preparfng ihese ffinanCI stslements, the Iwslees are requiied to: . selgct suliable accounting policitrs and aFply them consislenlly- • obseNe the mglhods and principles in thè charitt SORP. • make judgements and èslimales that are reasona? and pmdènl. • state wheiher applicable UK A¢¢ounling StandaTds have been lollowgd. Sub to any malerlal dèpartures disdosed and explained In flnan¢ial statements- and . prepare the linanclal statements on the going concgrn basis unloss11 is inappToprfale to pr9sumg that the charitablè company WSH continue in business. Thg Irustaes are respons1? for kegping adequate attounling recor(Ls that disclose with Teasonable accuracy at any tsme the finarla1 position ol the charity and enable them to ensure Ihal the financial statements compll wlh the Charities Act 2011. the aFpliCe Charities IAccwnts and Reports) Regulations, al thè provisons ol the constitution. The Iruslegs arg also responsiLI8 lor saleguardir th& assets ol the chartty and hence for taking reasonablo stsps for prev9nlion and detection ol Iraud and othgr irrggularitios. AFpwv8d by the trustees ol th& charity on 2141ri12026 an(J slgned on Its behalf by: essor Ann Marie Gray Truslee Page 7
Tho Social Pollcy Assoclallon Indopondont Examlners Report 31 December 2025 I ieport on the accounts ol thè Trust lor the year ended 31 De¢emk4r 2025 as set oul on pages 9 to 15. As the Charitys Trustèes. you ar9 r9sponslbb lor Ihe PTeperathon ol the ac¢ounts: you considor Ihat an audll Is not requILI for this year und&r sèctson 144121 ol the Charities Act 2011 Ith& 2011 A¢ll and that an IrKI9nd•nt examination is neede(l. Having satisfied mys811 Ihal th8 charlty Is not subject lo an audtt und8r company law aThJ Is ollglbl8 lor I1¥pendnt examination. il is my rasponsSblllty to '. examine the accounts uThJer soction 145 of the 2011 Act,. follow the procedures laid down in thè general directions given by the Chaty Commission under $8ction 14515llbl ol the 2011 A¢1: and state wh8th•r partKular malters have com& to my allenlion. y examination was carried out in a¢[dance with gèneral directions gwen by the Charity Commission. An oxamination include3 review ol the COUn1•ng records kepl ty the chaTty and a comparison ol Ihe accounts presenled with th08e records. 11 also consideratKJns ol any unusual items or disclosures Sn the ac¢ounls, and seeking eXaallOnS Irom you as truslo8S conrnIng any SLTrch matt&rs. The ProCUr9$ underlaken do not wovide all th8 ethlgnce that woykl be required in an avdil, and cons8quenlly no opinb)n is given as to Ythethei the accounts psent a 'Irue and fair wgvf and the rewl is lirnited lo thoso matters $$t out in Ihe statemenl below. '.Li'. I have COmeted my examination. I can confirm Ihat no matersal matters have come lo my attention n connection with the examinalK)n giving ¢aLSse to bglievg that in any respect.. 111 which give Me ieèsonthe cause to believe that in any material respect the requirements.. to keep accounlinp records in accordance with section 130 ot the cha118$ Act 2011 . aThJ to prepare accounts which accord wlth the accounting records and mplY wlth Ihg accounllng requlrements 012011 Act. 121 lo whl¢h. in my opinion , altention sl)ouk4 be drawn in ordèr to enable a proper underslandirKJ ol thtr accounts lo bg reached. B•n Ekny FCA Indopgndent examiner For jnd on bohalf of Bamètt Ravonxroft Llmllgd 13 Portland Ro Edgbaston Blrmlngham 816 9HN Date: 21 Aprll 2026 Page 8
The Soclal Pollcy A83oclatlon Stalemenl of Ilnancial activities for the or1d 31 December 2025 Note iknrnstrtet•d Totsl Funds Fund¥ 2025 Incom• and End¢h¥ments from.. Chadtable 8CtTh711es Investment Income 211,837 7.556 211.837 Total Inm0 219392 219.392 Expendllure on: Charltablè actmties Total EwndRure 218290 218,290 218290 218,290 Nel movomont in lurKIs 1.102 1,102 ROC¢11110n ol funds Total funds brought loThvard 381.756 381,756 Total lunts carried fomard 14 382,858 382.858 Note Unreslrf¢l•d Totsl Funds Funds 2024 Incorne and Endowm1$ from: Charflable a¢tNities Investment Income 177.873 4,772 177,873 4,772 T¢Xd Income 182,845 Charitable activllios Total Eypendllure 146,775 146.775 146.775 Nel movement in lunds 35.870 35,870 Re¢ondll•llon ol lunds T¢Xd lunds brought forward 345,886 345,8B6 Total lun¢Js Carrigd forward 14 All ol the charitys activities d&rfve from continulng operallot)s durfng thè ab)ve two Porfods. Thè lunds LY8akdown lor 20241s shown in note 9. Pago 9
The Social PolScy Asp•oclatlon (Roglslrnllon Mmbor . 11331XJ3) Balance Sheet 88 8131 December 2025 2Q4 Note Debtors Cash al bank and in hand 12 1,072 380.684 381,756 382.858 382.858 13 Nol wls 382,858 381.756 Fund$ of charity". Unmtrktod In¢omo lunds Unrestricted funds 362,858 381.756 Total lund$ 14 S82.858 381.756 The linawal slalements on pages 9 10 15 wer8 approved by the trusts88, and aulh)rised lor issue on 21 AK¥ll 2026 aThJ signed on their hall by.. Prolessor Ann Marie Gray Trustee IL/ Dr Gideon James Cak4&r Trustee Page 10
The Soclal Pollcy Assoclatlon Notes to Iho Ilnan¢lal statements lor the >rar endèd 31 December 2tr25 SY0tsMt of eompllan¢e The financlal $tst8m8nts havè boen prepared In accotdarte Aco)unling and RwrtiNJ tyCharties: Stalemenl ol Recommended Pra¢lice spplicable to ¢harilles prep9ring their accounts in accordants S4h the Financial Reporung Slathrd apyh'cable In the UK and R8pubKc of IrelaThY IFRS 1021 l•ff•ctivo 1 January 20151- (Chavilies SORP IFRS 10211. the Finandal RepDrting Standard arolkabtg in th& UK and Reput of Irdand IFRS 10218nd the Charttb8 Act2011. Bo$lB ol pr•p•rnllon Thè Social Policy Assoriation meets the delinition of a bonefft entily under FRS 102. Assets arbd liabilitie5 are Inllilly recognisod ai cost or tran5acbon value unless otheIe stated In the rel8vant ac(x)unting policy note5. Exomptlon trorn w•wlng * eash flow statsment The charity opted to earfy adw PAJlblin I pubH$hed on 2 February 2016 aThl have therelore t Incl cash fbw statsmgnt in thèso financ4al statsm8nt5. The Irustegs consKler thatlhere are no matèylal uThxrtalntws atout thè Chari1 continu8 as a goir cOrarn. Exp•n¢ur• l expenditure Is recognlsed once Ih8re Is a legal w construdve lgation 10 ihal gxpenditur?, il is probable settlemeni Is reqred arS the ameunt Can b9 measured ieliabty. Ml costs are alkxated to the aFVtKat) expenditur? h8adirYJ that aggregat8 Simrfar costs to Ihat ¢ategory. Where eosts canmt be directly attrtsd to part headlng$ they have been alk)caled OTh a b8sis consistent w41h Ihe use of resourees, th central 81all costs alkt8d on the basis of time spent, and dowedalsw charw alkncaled on the portw ol the asset's t. (Jher SUprte0$ a aknl8d based on the Spre1 of stalteosts. Charitable expenditure comprlws those costs Incurrèd by th6¢harty In lh8 d81Neryof its aclivibes and servKts for ils ben8fiLiari8s. It Ilre$ both costs that ean be allrtat8d diredtyto such activitie8 9TrJ th0$6 (¥)sts of an indirect nature necessary to support them. These indude the t¥ts attribute lo th8 tharlivs conwliaKfr ¢on$thubonal and 51atLltory requirements, induding audit. slratagi¢ management and Irustees$ meelings Teimbursed expenses. Pa9911
The Soclal Policy Association Notes to the flnanclal statements lor Ihe year ended 31 December 2025 1 Taxatlon The charity is considered to pass the iests set out In Paragraph 1 Schedule 6 of the Flnance Act 2010 arn1 therefore rt meels the delinilion of a charitabb company lor UK corporation tax purposès. Accordingly, th8 charity is potentially exempt from taxation In respecl ol IoM9 or ¢aFAtal gains received withln categories covered by Chapter 3 Part 1101 the Corporatkjn Tax 1 2010 or Sg¢1ion 256 of T3xalb)n ol Charggable Gains Act 1992. to Ihe extent that such income or gain5 are applied exdusivèly to tharitable purposes. Rgsearch and dgvalopmgnt exp8ndAure Is written off as incurre(l. Trade debtors Trode debtors are amounts due from customors lor meTthar*Ji5e sold or St1¢0$ ptrrfomed In 0Inary course ol buslness. They are rOgnised Initially al the transaction price and are subsequently measured al amortised cost using the effectwe intgresl method. less provision lor inyairmonl. A prowsion lof Ihe impairment ol 15 established ther8 is objoctive evkJ&n¢e that th¥ wll not be lo lI¢t all amoLtnts due aOrdIrj lo th8 original terrns ol the Teceivabtes. Cash and cash equivalents compris8 cash on hand arKI call dep08its, arKI Otr short-lerm highty liqukl inv8slmonts that are r&adily convertible lo a known amount and are sutie¢t to an insigntficant risk ol ¢harge In vU9. Fund stwctuve Unrestricted income lunds ar& general lurnls that are avallable lor use at th& tw8t9,8 d18cwllon In furtherance ol Ihe objectives gf the tharity. Page 12
The Soclal Policy Assoclation Noles lo Ihe Ilnanclal stslemenlg for the year ended 31 December 2025 Remgnluon and Measurent All ffinancial assets and liabilities initially measured al Iransactlon prlcg lincluthng transaction costsl, except lor those financial assets ¢lassilied as al lair value through profit or loss, whSch are Initially measur8d at lali valu8 (which is normlY the transaclion price excludlng transaction cosl$l. unles5 arrangoment constitutes a finan¢lng transactlon.11 an arraroem$nt Constitules a finan¢ing transactlon, the financi asset or financial Ilability is measured al the present value ol Ihe lubJr8 payments discounle(l at a rnarkel rats ol inl8re$t lor a simllar debt InstDJm8nt. Financial assets and liabllitle5 are only offset in thè statement tsl linAneial position whgn. and only vth8n therg exLsts a legally 8nlor¢e8blo right to set off th& recognis$d amounts and th8 Charity intends ellhar to settle on a net basls. or to realise the asset and settl• the Ibthlty slmultaneously. nancial assets are derecognise(I when and onty Tr%hen al the Contractu rljhts to Ihg ¢ash Ilows from th¥ fina181 asset expire ¢x are settled, bl Ihe charity transfers to another party substantialty all of Ihe risks fewards ol ownership ol th8 financRI as581. or ¢1 the charity, despit8 hawng rètained some, but not all. sHJnrficanl rfsks and rawards ol ownership, has Iran$18rred control ol the asset lo anofvr paty. nancial liabilities aro dwaccgnised onty when the obllgalkjn ycified in th8 ¢ontract is dlscharg8d, cancèlled or expires. Pag8 13
The Soclal Pollcy Association Notes to the flnanclal statements for the year ended 31 Decembor 2025 2 Incom• Irom charltable aBllvltlg9 Unr1rfct•d Totsl Totsl aon•Yal Conferences Royalties Other ev&nts Subscrfptlons 156,380 13,925 883 156,380 13,925 883 40,649 120,384 18.710 120 3 Invgslmwl Income lund8 O•n•r•l Interest receivable Similar in¢ome', Intwost ffK•lvtl8 on banktpo8h8 Expondllum on ¢h•rltsble •0111•¥ Unr•rl¢i•d fufftd• 1&8.521 19.924 1331 19,924 9.600 40.041 Publeallo 29.418 Admlnlstralkm e Wob8ilo ar#Y member 80ThI¢oB Bar& chary88 Legal and prolemsknal ryer•l(xs Govemance costs 40.041 1035 720 218.290 18.477 218 S Ar1• ot gon¢• and •upport &18 GovThnc• fund• Total Indeperhleftl examiner fees Examlnation ofthe financial 8latements 720 333 Page 14
The Social Policy Association Not08 to the financlal statements for the year endgd 31 Decernr 2025 6 Trnsttes Mmumratlon •nd &xponso8 No tru$lges. rtor any persons connected wih tm, ha receNed any remun8ratlon from tha charity duriro the year. 7 Taxallon The charity Is a registered ¢haflty and Is Ihgrefore 9xempl from laxation. 8 Debtorn The aggregate payroll costs were as follows.. Tot•1 2025 Totsi A¢¢rutd Irome 1,071 9 Fund• UnTfrstrlthd lund• General 8alonc• •t knl G8neral 182 T•)tsi QJThgrrt as8gts Currnnt Ilat4llbo8 Total nel assets 381.756 11 Anatysl ol net lunds B•l•n¢• •1 31 l J•nuary 2024 C••h Ilw D•c•nb•r %)25 Calh at bank aTrJ in hand 2.174 N81 debt 382.858 Page 15