REGISTERED COMPANY NUMBER: 0229261JI (EDgland and Wiles)
REGISTERED CHARITY NUMBER: 800065
REGISTERED CHARITY NUMBER (Seotland): SCO 46557
TOFT
ETRU
EES AN
IDAT
FINAN
IAL STA
EMENTS FOR THE YEA
ENDED
TDE
BER2
OR
INSTITUTE FOR PUB
C POLI
A COMPANY LIMITED BY
ESEAR
ARANT
Chariot House Limited
Chartered Accountsnts
44 Grdnd Parade
Brighion
F￿ Sussex
BN2 9QA

IN
TUTE F
R PUBLIC POLI
Y RESEARCH
ONTENTS OF THE FINANCIAL STA
EMENT
OR THE YEAR ENDED 31ST DECEMBER 2020
Page
R¢port of tbe Trustee8
Rewrt of tbe Independent Awditors
Statement of Finanei81 Actlvities
13
B4laDee Sheet
14
CoDsolidated Bal8n¢e Sbeet
15
C¥sh Flow Statement
16
Notes to the Cash Flow Statement
17
Notes to the Flllancial Statements
18 to 27

INS
TUTE F
RPUB
IC POL
CYRE
ARCH
REPORT OF THE TRUST
ES
FOR THE YEAR ENDE
JIST D
CEMB
2020
The trustees who ar¢ also directors of the charity for the purposes of the Cotnpanies Act 2006, present their report with
the consolidated financial ststements of the charity and its subsidiary for the year ended 31si December 2020. The
trustees have adopted the provisions of Accountitig and Reporting by Charities.. Statem¢nt of Re¢ommend¢d Practice
applicable to charities preparing their accounts in accordance with th¢ Financial Reporting Standard applicable in the
UK and Republi¢ of Ireland (FRS 102) {effe¢tive l January 2019).
ORJEcfIvES AND ACTIVITIES
Objective5 and aim5
The Charity's objttt IS to contribute to public undv5tanding of s(KiaL ¢onomic and political questions through
research. di%ussion and publication. At any time ther¢ are many such questions and th¢ Instiiute has io select those
which are m05t urgenl most importanL most susceptibl¢ to resolution and to which its own competencies are relevant.
To some extent, urgency is deterniined by the politics of the day- those issue5 which ar¢ prominent in public d¢bate. and
for which publi¢ policy aciion 15 likely at some future poin( are the ones where the public h&8 the most urg¢nt need to
b¢ infomied. As part of thi5 process IPPR develops and disseminates policy ideas.
In 2015 th¢ Charity amended its charitable objecLq ID order to ellsure they are fil for purpose with regard to curreni and
future activities.
The Charity Commission provided their fornial con5¢ni to these ¢hanges on 24th August 2015. and the trustees p&ssed a
written resolution adopting the new objects on 14th Sept¢rnttr 2015. Th¢ Tevised obje¢15 are set out below..
The Charity's objeds are:
a) to promoie r¢s¢arch into {and the publication of the useful results thereoD and the education of the public in the
e¢onomic, social and political scien¢es and in scien¢e and tecl]nology. the voluntary 5e¢lor and wial enterprise, public
services, and industy and commerce;
b) to advance the voluntary sector and th¢ efficiency of public services whi¢h serve (or further) a charitabl¢ PUTPOSe'
c) to advance physical and mentsl health-
d) to relieve poverty. unemploymenL OF thos¢ in need by of youth. age. ill-heahh. disability. fmancial hardship
or other disadvantage.
e) io advance environmental protection or improvement and sustainable development.
0 to advance the ans. culttlre, herilage or scienc¢. and
g) to advance such other exclusively charitable purposes ￿ the in their absolute discretion d¢temiine.
Throughout these M¢morandum and Arti¢l¢s of Association a 'charitable purpose, is a purpose that 1$ regarded as
haritable under th¢ law5 of every part of the Uniled Kingdom. and the tern) '¢horitsble' is to be inteTpreted in
accordance with th¢ laws of every part of the United Kingd(Kn.
Susiainable development means 'developm¢nt that meets the needs of the present without compn)mi$ing the ability of
future generations to meet their own ne¢ds'.
Page I

INSTIT
TEFORP
BLIC P
ICY RESEARCH
REPORT OF TH
FOR THE YEA
RUSTEE
NDED
T DECEMBER 202
OBJECTIVES AND AcfiviTIES
Principal Aetivities. Aehievements and Perfomance
In 2020. IPPR delivered a wide range of research and events programmes to inforn) th¢ public and contribute rigorously
r¢5earched ideas to public debate. As well as the public, we engaged with opinion forniers and politicians acros5 Ihe
political spectrum and ai all levels of n*ional, devolved and local government.
A new IPPR Executive Director. Carys RobertK W&5 appointed 4nd took up the role in February 2020, having
previously led the IPPR Centr¢ for Economic Justice. Consequently, the organis*ion sought to refresh its strategy to
achieve its charitable purp05¢5. We have subsequently focussed on three, related fornis of jusiice with relevan¢e across
OUT teams and activities..
Economic 4nd eDvironm¢nt*l J￿$t1¢¢.. requiring shared and environn)entally sustainable prosp¢rity
- Social justice= with universal access to th¢ basic goods, services and income needed to thrive
Democratle jUStice.' in which power and agency sits with people 2nd communities, who have a stake in so¢i¢ty.
These were selected to ensure IPPR is addressing the mosi pressing social, e¢onomic and political questions facing the
UK, as identified through our research both through and prior io the pandemi¢.
Through a review of how we work and how we can most effectively meet our goals and purpose¥ we resolved to:
Deepen and extend our eollaboration with other organisation5 working towards sirnilar goals.
Ensure our research considers immediate policy questions as well as how our id¢4s addr¢ss the bigg¢5t long-ierm
challenges faced by the UK.
Ensure our research is. where possible. ro￿ed in lived experien¢e and the views of peopl¢ and comTnunities whose
lives are shaped by th¢ public policy our research consider4 and to craft otsr messages to be more Teadily a¢cessibl¢ to
the public.
During the year we published 56 re5¢arch repoTts and a further 40 policy-r¢lated blogs. A further 90 articles by
researchers about their work were published by external m¢di
Our work was referred to in 700 national media artTcles and by broadcasiers around the UK on mor¢ than 1,500
occasions, including 248 broadcast media appearknces by IPPR experts. On our principal social media channel. Twitter,
we grew our main accounvs following to almost 88,000 by year end.
Ctsronavin￿ respome
The Covid-19 p4ndemi¢ dominat¢d public policy debates through much of2020 $0 we adAPted our research prosramme
as a result, rapidly shifting the focus of our ￿lIcY research, to ensure our work has maximum impact. Highlights
included the following:
- Our Who Wins. Who PAYS? paper, published by the Centre for Economic Justic¢ early on in the pandemic in May,
highlighted how polioy was protecting asset owners rdther than insecur¢ and low-income workers. ar]d the likely
worsening of inequality through the pandemic. The report widely covered in the rnedia and social Media (providing
early analysis for campaigners io drdw on), and we discussed its r￿dIng$ with policymakers across parties
We made the cas¢ for and Set out what an 8mbitiou$. e(feclivt. green stimulus package would look like, with robust
ma¢roeconomic tnodelling and by engaging with civil servaltts. politicians and media.
We highlighted the risk to children's wellbeing and education in a briefing paper published one week after the UK
went into lockdown, including the recommendation ¢0 mak¢ parents and carers eligible for the Job Retention Scheme.
The UK Gov¢rnmeni laler adopied thi5 recomrnendation. alongside our call for broadband and devices for such familie5
and guidance to councils on maintaining access to parks.
Our reSea￿h into preventing youth unemployrnent thrwgh a Jobs Fun4 discus5¢d with senior advisors and civil
servants, was 5UPPOrted by a rdnge of youth charities and contributed to the Chan¢¢llorfs announcement of a £2bn
Kickstart Scheme. Our research arguing for the Job Retention Scheme to be maintsined and made available part-time
also contributed to policy chang¢ by the UK goYernmenL with both elements adopted.
We published analysis on minority ethnio groups and Covid-19 ineqllalities In partn¢rship with the Runnymede
Tru$L leading to an exclusive repon on Chann¢l 4 news and a discussion in parliament.
Pag¢ 2

INSTI
UTE FOR PUBLI
POLI
Y RESEARCH
REP
RTOFTHE TRU
TEES
FOR THE YEAR ENDED
1ST DE
EMBE
2020
OWECTIVES AND ACTIVITIES
- IPPR Srotland undertook a project lo assess po￿-CoV1d policy priorities. Our recommendations were reflrfied in the
Scottish Government's response to Covid19 and in a number of political partie5. manifest05 for the 2021 eleuion.
Environmenlaljusiice Commi&sion
We organi5ed and hosted two ciliz¢ns' juries in Tees Valley and County Durham and in South Wales. part of a series
around the ¢ounty, to infom) the Environmental Justice Commission (reporting in 2021) in its work to pri)duce a plan
for a wen and fair transition to n¢¢ zero and the restoration of natur¢. The jurors li￿ened to evidence, gave their vision
and ¢ontributed policy ide&%. The work of the Environmental Justice Cornmission gathered pac¢ through 2020.
including an interim report setting out the case for a green recovery, and extensive engagement with government
officials, ministers, #nd opp)Siiion parties. We relaun¢h¢d our Instagrdm channel. leading with fjndings from the
Environmenial Justi¢e Commission. to reach ttew audienees.
Health and Care
Our resear¢h on health and care made headlines and infomied policymakers. decisions. We highlighted the irnpact of
Covid19 on waiting tim¢s for other condition4 in¢luding cancer, showing thai 250,000 people hail missed urgent cancer
ch¢¢k-ups, risking a decade's worth of progress on cancer survival rales. Several of our re£4)mmendations on childhood
obe5Lty were adopted by the Pritn¢ Minister in hi5 policy ag¢nda to thckle ob￿[ty. Employer organisations across the
health and care sector supported our call for mental health support for frontline workers during the pandemic.
Migraiion andBre¥il
Our analysis on the impacts of the hostile envirotlln¢nL the habiDJal r¢sidence tesl the'no recourse to public funds,
policy and also of Covid19 were used by other charities in the sector in their work over 2020, following c105¢
engagem¢n¢ with them. Our r¢poTL AcC￿S Denied. arguing thai th¢ h05ti1e envirotlln¢nt policy is failing on its own
¢¢rnis, was widely r¢ported in a rang¢ of media outleLS.
W¢ were one of the f￿st organisations to publish our analysi5 of the UK-EU trade agr¢ement- TheBrexii
Irsl anal
sis- which argued that the deal provided w¢ak safeguards for upholding workers, rights and
environmentsl protections. The report wa5 used by MPS across Westminster to inforni th¢ parliamenw debate on the
trade agreemenL in which the r¢search was referenc¢d.
ade
London Progre￿10￿ Collaboration
Th¢ London Progre￿10￿ Col]aboration (LPC) ]aun¢h¢d during National Apprenticeships Week in February. In June. the
LPC launch¢d a Reskill¥ng lhe Recovery campaign, to secure pledges io transfer unspent apprenticeship levy funds from
large employers to small busincsse5 and enable the creation of appr¢nticeships for low-paid Londoners. By the end of
DeceTnber 2020, this had supported 265 apprenticeship staTts and secured £4.3m of pl¢dged funds.
IPPR Norih
IPPR North's resear¢h highlighted the impact of centrdl governmenvs poli¢ie5 on the resilienc¢ of Northern regions in
the face of the pandemic, paying particular attention to the impa¢¢ of spending cuts on health inequalities and child
pov¢rty. Our State of the North r¢port set out key tests for the gov¢rnmenVs 'levelling up. agenda. In December, IPPR
North w&s short-listed for the 'advocaGy' and'innovation. categori¢s of th¢ Prospect think tank awards.
JPPR Scoil(7nd
IPPR Scotland reached its fhfth anniversary in 2020. It began a major programme of work on fJnan¢ial insecurity in
Scotland. including analysis relevant to the pandemic &5 well as wot* to deepen understanding of how finan¢ial security
for families ¢ould be achieved in the long-lelln. The Scottish Government adopted our recommendation of a
pre-christhils £100 lumpsum payment for low-ncome families. helping some of the poo￿ families in Scotland.
Page 3

STIT
FOR PUBLI
LICY R
ARCH
REPORT OF THE TRU
TEES
FOR THE YEAR ENDED 31ST DECEMBER 202
OBJECTIVES AND AcfivITIES
Evenis
We held 39 public ev¢nts in 2020. This included the final events in ourprogramme relating to the Commission on
Economic Justice, the most ambitious public engagement ￿ries IPPR has undertaken. We visited Edinburgh, Belfast
and MaTgate io sp¢ak with local people about what econornic justice m¢ans to them. From March, we shifted our events
programme online, and f04md we could reach lar8¢r and more geographically dispersed audiences.
Public Benefjt
In shaping our objectives and pl&)ning our activities for the year, the TnLSttts have given consid¢rdtion io thc duties set
out in section 17(5) of the Charities Act 2011 io have due regard to public benefit. In particular, the Trustees have
considered how the planned activtties will contribuie to the overdll aims and objeclives that they have set.
Plans for Future Ptrlods
Our upcoming plans includ¢ the following-
Having refreshed our strategy, we are now seeking flexibl¢. programmatic and ¢ore funding to ensure we can
implement it most effectively. We are reviewing our fundraising practices and strategy to support us with this.
- We are developing major progrAmmes of work around and xr05s the thrtt fom)s of justice identified in our strategy.
including on the purpose of education. the futyre of the health and care system post-covid. the UK'S relationships in the
world post-Brexit, especially trade and transatlantic relations. economic policy for a green and strong r¢covery from the
pandemic. and how to strengthen trust and democracy across the UK.
Having secured cross-party support for our Minimum Income Guarantee proposal in Scotland. we now plan to work
with S¢ottish Government and parties across the Scottish parliameni io see the policy implemented.
- Analysis and re￿arch to promot¢ the findings of the Environmental Justice Commission and infomi public debate in
th¢ run up to the COP26.
review of our external communications and materiaL8 explaining our organi￿lon and strategy to inforni our
audiences and funders.
- A n¢w Diversity. Equity and Inclusion subcommittee of thff and trustees 15 reviewing how race and thicity feature
in our research Strategy and how IPPR can supwTrrt racial justice throughout its activities.
We are inv¢sting in our staff with a training plan including fundraistng, project managefft¢nL lin¢ manag¢TnenL
¢oaching. quantitaiive analysis. broadcast medta and antiracism.
FINANCIAL REVIEW
Fln4nciAI review
2020 was another sueee5sful year, after 2019's achievements of adding £53k to IPPR'S reserves. By the end of 2020 the
total general Tesetves stood at £1.069k (2019.. £942k). after another £35k was added during 2020, noi including £92k
which was the surplus IPPR'S Trading subsidiary achieved in 2019 gifted ¢0 IPPR during 2020.
In 2020, despite the change of leadership. th¢ turbulence in the economy and the risk asS(￿lated with the Covid-19
pandernic. IPPR carri¢s on achieving the results set by the budget for the year. No major structural changes needed io b¢
put in place so far. Th¢ financial and operaiional rtsk5 are closely monitored during the year and at the end of the
summer th¢re is cautious optimism for the 2021 year-end.
To monitor the added financial risks, the already ¢xisiin8 Finance & Risk Committee (a sub-committ¢e of the Board of
Trustees) has 2 new members from the Board of Trustees with varied financial and commercial expertise. This
ommittee meets reglllarly, ai le&st every 2-3 rnonths and reports to the Board.
Page 4

INSTITUT
FOR
BLI
POLI
RESEARCH
REPORT
F THE TRUST
ES
FOR THE YEAR
NDED 31ST DECEMB
R 21120
FINANCIAL REVIEW
R¢$erves poIIcy
The tnisiees recognise the need to hold reserves to allow proteciion of core activities in the event of income shortfalls,
to promote balanced. long-term strategi¢ plannTng and to ¢nable the Instituie to carry out exploratory research into
otherwise unfunded areas of public policy.
In 2018 the trnstees reviewed the need4 risks and Oppor￿n]11¢S faced by the charity. along with relevant financial
forecasts and analyses. Based on this review, the trustees recogni5ed the need to hold a general reserve and that the size
of this reserve should be related ￿ the level of ongoing financial commitments. The I￿￿eeS decided that as a guide the
organisation should keep its generdl reserv¢5 ￿ a lev¢] beNeeT] four io five months of expenditure. This recognises that
the bulk of the charity's incom¢ is potentially quitr volatile and short-tenn while most of its COSLS (salaries, property) are
relatively fixed.
In 2020 there been further di5¢ussion by the Financ¢ Committe¢ about the l¢vels of res¢rve5 need¢d but it was
agreed that no fLffther changes were necessary. The guide lev¢1 of reserve$ remains in-b¢tween 4-5 months, op¢rdting
¢xpendiwre. The average monthly expenditure of IPPR 15 round £223k so the 2020 yearthend was, and fUTrent res¢rves
are at a level, which the TThslees consider to be sulricient. The trustees will continue to review the reserves policy and
l¢ve15 annually and approv¢ the 2022 budget and fmancial plans at their t)ecember me￿ing.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing doeument
The Charity is constituted &$ a company litnited by guarante¢ and is governed by a M¢morandum and Articles of
Association.
Executive Director
The day.io-day Tnanagement of the organisation is delegated io Executive Director, Carys Roberts, who took up the
posi in th¢ fiT5t quarter of 2020 following Tofft Kibasi's departure at the end of 2019.
Recruitment and appointment of new trustees
The Tru51ees {who ar¢ the Direciors of the company for Companies A¢t Purposes) are elected by the compangs
members at the Annual General Meeting. One third of the Trustees Tetire each year. The Trustees have the power to
appoint to fill ￿ll41 vacancies. New T￿￿tee$ can be Dominated by any Trust¢e.
Organi￿tIOnal structhre
The day-towday running of the organisation is delegated io staff under the leadership of the Executive Director.
Board of Trustees Tn¢et on a quarterly b&si5 PriTnarily io discuss issues of strategic dire¢tion both in relaii(Trn to the
running of the Organisation and the research priorities. They the￿rore approve an annua] strniegic plan and budget
b¢for¢ the stsrt of th¢ year and then monitor progress againsi the plan during the year.
Croup Structure
The Charity fully owns a trading subsidiary. IPPR Trading Limi*4 which &vries ou¢ Commercially commissioned
research and genernt¢s income through events.
Induction and traiDing of Dew trustee5
T￿Ste¢S are given an in-depth introduction io the organisation and the rol¢ of Tn￿e through meetings with other
Trustees (including the Chair) and meetings with stsff (including the Executive Director). New Tn￿te¢S are also given
relevant documentation including recent research, mttting minu￿$ and annual reports.
Page 5

STITUT
ORP
IC POLI
Y RESEARCH
REPORT OF THE TRU
TEES
FOR THE YEAR ENDED 31ST DECEMBER2020
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk rnanAgement
The financial and operniional risks are ¢10sety tllonTtored dwing the y¢4r and at th¢ end of the summer there is cautious
optimism for the 2021 year-end.
To monitor fmancial risks, the Finance & Risk Committee (a S￿￿¢0￿MI￿¢c of the Board of Trustees) has memb¢r5
frorn the Board of Trustees with varied fjnancial and commeTcial expertise. This committee meets regularly, at least
every 2-3 months and reports to the Board
During th¢ year the Trnstees continued to develop and refll)e their risk manag¢ment strat¢gy. which comprises..
A quarterty and annts21 review of the major risks to which the Charity is exposed
- Review and update of the Chariry's risk monitoring processes, overseen by the Finance and Risk Committtt
- The implementation of pro¢eduTes designed io minimise any potential impact on the Charity should any of those risks
maierialis¢.
Political risk reviews at ¢very Finance and Risk Committee and Board meeting as well as esealation of parti¢ular risks
in interv¢ning periods- monitoring and ensuring IPPR'S independence of party and political bias.
Corongvlrns pandemie
The Con)navirns pandemic presents signiflcant risks to IPPR. These include staff illness and absence. disruption to our
work progrdmme anil delivery. and volaiiliry of funding. Internal risks have been addres5¢d through discussion with
trustees and staff on how to minimise impact. daily monitoring and di55emination of governmeni guidance,.
impleTn¢ntation of home-working and flexible working- and the introduction of a traific light system monitored
fortnightly to identify delivery risks. We have sought io redesign impacted projects in consultation with our fiLnd¢rs in
order that we can deliver the work. We have made plans to slowly return to o(fice-working in Q3 of 2021. with a full
risk assessment conducted and stsff consulted. Financial risk5 have b¢en addr¢s5ed through regular reporting to th¢
Finance Sub-committee of trustees. scenario analysis to ¢ll5ure our reserves policy will confidently be met- caution on
staff recruitment and prudence tn awarding pay in¢¢tase5. In addition, we continue io seek diversification of income
50ur¢es, as well as to seek fvnding from sources we have identified & being relatively less affected by the pandemic
and economic eff¢cts. These procedures are pu1￿licallY reviewed to ensure that they still meet the needs of th¢ Charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Regi5t¢red Cojnpany Dulln￿r
02292601 {England and Wale5)
Regist¢red Chxrity nllmber
800065 (England and Wales)
SCO 46557 (Scotland)
Register￿ office
13 - 14 Buckingham Stre¢t
London
WC2N 6DF
Page 6

IN
TUTE FOR P
BLIC
OLI
RESEARCH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 2020
REFERENCE AND ADMINISTRATIVE DETAIiS
Trustee$
Ms C F Daniel (resigned I8￿rI020>
Lord J L Eatwell (resigned 11912020)
Lord C R Hollick (resigned IP412020)
Prgfessor M ma7￿cal0 (resigned 2114r2021)
DrDMP¢ck
Ms J Search
Baroness A M Suttie
B Moselle
Mrs E Farhai-Nicholson
N Ramchandani
K Bar¢lay
Ms U Burnham
M5 K McNeill (appointed 1616ll021)
Ms R Bun¢e {appointed 161612021)
Senior St8tulory Auditor
John Thacker FCA DChA
Auditors
John Thacker FCA Dcha
Chariot House Limited
Chartcr¢d Accountants
44 Grand Parade
Brighton
East Sussex
BN2 9QA
Bankers
Unity Trust Bank pl¢
9 Brindleypla¢e
4 Oozells Squar¢
B]r￿InghaM
BI 2HB
Solicitors
]Jates Wells & Brdithwaite
Cheapside House
138 Cheapside
London.
EC2V 6BB
Insurance Brokers
Sta¢khouse Poland Ltd
N¢w House, Bedford Road
Guildford, Surrey
GUI 4SJ
Page 7

IN
TITUTE F
R PUBLIC P
ICY RESEARCH
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31ST DECEMBER 202
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The tNstees (who ore also the direciors of Institute for Public Policy Research for the purposes of company law) are
responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and
United Kingdom Accounting Standard5 {United Kingdom Generdlly Accepted Accounting Practice).
Company law requires the trustees to prepare financial ststements for eaeh financial year which give a tNe and fair
view of the stat¢ of affairs of the charitable company and rts subsidiary and of the incorning resource5 and application of
resources. including the incom¢ and expendilure, of the group for that period. In preparing those financial statements.
the tNsiees are Tequired to
select suitable accounting policies and then apply thern consistenily.
observe the methods and principles in the Charity SORP,.
make judgements and estimates that are reasonabl¢ and prudenL
prepare the financial statements on th¢ going concern b&5is unless it is inappropriate to presum¢ that the charitable
company will continue in business.
The trustees are r¢5ponsible for keeping proper accouttting records which disclose with reasonable accuracy at any time
the financial EK)sition of the charitable company and (o enable them to ensure that the financial statements eomply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and its
subsidiary and hence for taking reasonable steps for the prevention and detection of fraud and oth¢r irregularities.
STATEMENT OFTRUSTEES, RESPONSIBILITIES
In so far as the twsttts are aware..
there 15 no relevant audit infornjation of which the group's audiior5 are unaware: and
the tru5t¢es have taken all 5t¢ps thai they ought to have taken to make themselves aware of any relevant audit
inforniation and to establish that th¢ audiiots are aware of that inforniation.
AUDITORS
The auditors, Chariot House Limited, will be proposed for re-appointsnent at the forth¢oming Annual General
Meeting.
Approved by order of th¢ board of trusiees on .............
. and signed on its behalf by..
K Barc
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBEILS OF
INSTITUTE FOR PUBL
C POLICY RESEAR
Opinion
We have audited the financial siaternents of Instithle for Publi¢ Policy R¢5¢arch (th¢ parent charitable company and its
subsidiary) for the year ended 3 1st December 2020 which ¢omprise th¢ consolidated Ststement of Financial Activiti¢s.
the consolidated Balance SheeL the Balance SheeL the consolidated C&5h Flow Statement and notes to th¢ financial
statem¢nts, including a summary of significant accouniing policies. Th¢ financial reporting framework that has been
appli¢d in their prcpardtion is applicable law and United Kingdom A¢¢ounting Standards (Unit¢d Kingdom Generally
A¢c¢pted Ac¢ounling Praclice).
In our opinion the financial 5tatements'.
give a true and fair view of the sthte of the group and ¢haritsbl¢ company's affair5 a5 at 3 1st D¢c¢mber 2020 and of
its incoming resources and application of resources. including the group's into￿¢ and expendilure, for the year then
have been properly prepared in accordance with United Kingdom Genernlly Accepted Accounting Practi¢e,' and
have been prepared in ac¢ordance with the requirements of the Companies Act 2006, the Charities and Truste¢
Investtnent (Swtland) Act 2005 and Regulation 8 of the Charffities Accounts (Scolland) Regulation5 2006.
Basis for OPiDjOII
We condurt¢d our audit in a￿ordanCe with In*mational Standards on Audiiing (UK) IISAS (UK)) and applicable law.
Our responsibilities under those standards ar¢ fi]Tther described in th¢ AuditOTS' responsibilities for the audit of the
financial statements section of our report. We are independent of the group in ac¢ordance with th¢ cthical
requirements that are relevant to our audit of the fmart¢ial statements in the UK, including the FRC'5 Ethical Standard,
and w¢ have fulfilled our other ethical responsibilities in accordanc¢ with these requirements. We believe that the
audit evidence we have obtsined is sutri¢ient and appropriate to provide a basis for our opinion.
Conclusions relatlng to going concern
In auditing the financial statements. we hay¢ Goncluded the trust¢es' u5¢ of the going con¢eTn basis of accounting in
the preparation of th¢ financial sthLem¢nts 15 appropriate.
Based on the work we have perforni¢d, we have not identifi¢d any material uncertainties relating to events or conditions
that, individually or collectively, may cast signifieant doubi on the ￿0Up,$ ability to continue &8 a going concem for a
period of * le&4t twelve months from when the financial ststements are #uthorised for issue.
Our re5ponsibililies and the resp(Trnsibilities of the tr￿￿treS with respect to going concern are described in the relevant
sections of thi5 report.
Other information
The trustees are responsible for the other infiJrn)ation. Th¢ othcr information comprises the info￿atiOn included in th¢
Annual Report, other than the fu)ancial statements and our R¢port of the Independent Auditors th¢reon.
Our opinion on the financial statements does not cover the other inforniation and, except to th¢ extent otherwise
explicitly stated in our repor¢ we do not express any forni of &5surdnce conclusion thereon.
In ¢onn¢ction with our audit of the financial sthtements, our responsibility is io re&d the other inforniaiion and. in doing
50, consider whether th¢ oth¢r inforniation is matetially inwnsi5tent with the f￿ancial stat¢m¢nts or our knowledge
obtain¢d in th¢ audit or othenvise appears to b¢ materially missth*d. If we identify such material inconsistencie5 or
apparent malerial misstatements. we are required io detennine whether this gives rise to a material misststern¢nt in the
financial statements themselves. If. based on the WO￿ w¢ have perfollned. we conclude thai there 15 a material
misststement of this oth¢r inforniation, we are requir¢d to rwrt that facL We have nothing ¢0 report in this regard.
Opinions on other matters prescribed by the Comp*nies Aet 2006
In our opinion, based on the work undertaken in the course of the audit:
the inforn]ation given in the Report of the Trustees fl￿ the fmancial year for which the fllwicial staiemeAts are
prepared is ¢onsis¢ent with the financial staiements: and
the Report of th¢ Truslee5 ha5 been prepared in accordance with applicable legal requirements.
Page 9

REPORT OF THE INDEPENDENT AUDJTORS TO THE
INSTITUTE FOR PUBLI
POLI
Y RESE
RCH
EMBE
OF
Matters on which we are required to re￿rt by exception
In the light of the knowledge and understanding of the group and charitable company and its environment i)btained in
the course of the audiL we have not identified material misstatements in the Report of the Tru5t¢es.
We have nothing to report in respect of the following rnatters where the Companies Act 2006 and the Ch￿iti
Accounts (Scotland) Regulations 2006 requires u5 to report to you if. in our opinion-
adequate accounting record5 hav¢ not tten kept or renwns adeqtwe for our audit have been received from
branches not visited by us- or
the financial stalements are not in agreemenl with the accounting records and returns" or
certain disclosures of trnstees, remuneration specified by law are not made. or
we have noi received all the inforniation and ¢xplanatÉons we rcquire for our audit; or
the I￿￿tee3 w¢re not entitled to take advantage of the srnall companies ex¢mption from th¢ requirement to prepare a
Strategic Report or in preparing th¢ Report of the Tnjstees.
Responsibllities of trustees
As explained more fully in the Ststement of Tr￿￿e¢s. Responsibiliiies, the trustees (who are also the directors of the
charitable company for the purposes of company law) are r￿pOns11 )le for the pr¢pardiion of the financial statements and
for being satisfied that they give a trye and fair view, and such internal control as the tsustees detemiine is ne¢es5ary
io enable the preparation of f￿ancial staiern¢nts that are free from material misstatemenL whether due to fraud or error.
In preparing the fmancial statements, the tru5t¢es are responstble for assessing th¢ group and charitable company's
ability 10 coniinu¢ as a going concern, disclosing, as applicable. matters relat¢d to going concern and using th¢ going
oncern basis of accouniing unless the trustees either intend to liquidate the group or charitable company or to cease
op¢ration5. or have no realistic altematrve but to do so.
Page 10

REPORT OF THE INDEPENDENT AUDITORS TOTHE MEMBERS
INSTIT
FOR PUBLIC POLICY RESEARCH
Our responsibilitiu for the audit of the finan¢511 statements
Our objectives are to obtain reasonable &55ufdnce about whether the financial stsiements a5 a whole ar¢ free from
material misstatement. whether due to fraud or error, and to issue a R¢port of the Independent Auditors that include5
our opinion. Rea50nabl¢ assurdnce is a hÈgh l¢v¢l of assurance. but 15 not a guarantee that an audit conducted itt
accordance with ISAS (UK) will always detect a rnat¢rial mis5thtement when it exists. Misststements can arise from
fraud or eTror and are consid¢r¢d material if. individually or in the wegate, they could reasonably be expected to
influ¢n¢e the economic deeisions of users tsken on th¢ basi5 of these fman¢ial statements.
IrTrgularities, including fraud, are instances of nort-compliance with laws and regulations. We d¢5ign procedures in ITne
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, includin8 fraud.
The exl¢nt to which our procedures are capable of detecting irr¢gularitie5. including fraud is detailed below.
W¢ gained an understanding of the legal and regulatory fram¢work applicable to the charitabl¢ company and the
industry in which it operates, and Gonsidered the risk of acts by the ¢haritable company thai were contrary to applicable
laws and regulations. including fraud. We identifioj that the following laws and regulations are central to the charithble
company.
Companies Act 20006
Charities Act 2011
Charities SORP 2019
Chariti¢s and Trustee Investment (Scotland) Aa 2005
Health & safety regulations
We did not fmd any instances of non-compliance or breache5 of the legislation fram¢worft appli￿1¢ to the charitable
company.
We designed audit procedures to respond to the risK recognising that the risk of not detecting a material misslatement
due to fraud 15 higher than the risk of not detecting one resulting from error, as fraud may involve deliberate
¢on¢ealm¢n¢ by, for example, forgery or intentional MiSrep￿Se￿t￿tl0l4 or through collusion.
We identified that the following areas were of high risk:
Complet¢nes5 of income. We perfollned various audit tests to ensure that inrome was not materially understated in
th¢ financial statements.
Management override of contro]s. We perforni¢d various audit tests to ensure there was no material matwganent
override of controls
We focussed on laws and regulations which could giv¢ rise to a material misslatement in the f]nancial statement5,
including. but not limited to, the Companies Act 2006, UK tax legislation, Charities Act 2011, Charities and Truste¢
Investment (Scotland) Aci 2005 and Clwities SORP 2019. Our tests included agreeing the fll)ancial stsiemetit
disclosur¢$ to underlying supporting documentation. enquirie5 with management and enquiri¢s of legal counsel when
considered nece55ary. There are inherent Itmitaiions in the audii procedures d¢S¢rIb￿ above and, the further removed
non-compliance with laws and regulations is from the events and transactions reflcded in th¢ fmancial sta￿Ments, the
less likely we would become aware of it. We did not identify any key audit matters relating io irregularitie5, including
fraud. A5 in all our audits, we also addressed the risk of management override of intemal contro]s, including t¢sting
journals and evaluating whether there was evidence of nw)agement bias by the directors that repr￿ented a risk of
material misstatement due to fraud.
A further description of our responsibilities for the audit of the r]nancial statements is located on the Finan¢ial
Reporting Council's website at www.frc.org.uklaudilorsre5pon5ibilities. This description fomis part of our Report of the
Ind¢pendcnl Auditors.
Pagell

REP
RT OF THE INDEPENDE
INSTITUTE FOR P
BLIC POLI
T AUDrroRS TO THE MEMBE1￿ O
Y RESEARCH
Use ofour rewrt
This report is made 501ely to the charitable companYs mernber4 as a W. in accordance with Chapter 3 of Part 16 of
the Companies Act 2006, and to the charitable company's ￿￿te¢s. &8 a trf)dy, in accordance with regulation 10 of the
Charities Accounts (Scotland) Regulations 2006. Our audit work ha5 been undertaken so that we might stste to the
charitable ¢ompany's members those matters we are required to Stale io them in an auditors. report and for no other
purpose. To the fullest extent permitted by law, we do not accepl or assume responsibility io anyone other than the
charitable company amd the charitable compan￿5 membm &8 a body. for our audit worK for this reporL or for the
opinions we have fomi¢d.
4ILrfLL
John Thacker FCA DChA {Senior Statutory Audiior)
for and on behalf of Charioi House Limited
Chartered Accountants and Ststutory Auditor
44 Grand Parad¢
Brighton
East Su5S¢X
BN2 9QA
Date..
Page 12

INSTIT
TE FOR PUBLIC POLICY RESEA
CH
TATEMENT OF
ONSOLIDATED FINANCIAL AcfivITIES
INCORPORA TIN
ANIN
OME AND F.XPENDITURE ACCOU
FO
THE YEARENDED31
TDE
BER2
2020
Total
funds
2019
Total
fimds
Unrestricted Restri￿ed
fund
fi￿dS
INCOME AND ENDOWMENTS FROM
Donations and legacies
2.453,663
2,453,663
2.655,909
Charitable 8Ctivities
Charitabl¢ actlVili¢s
48.139
48.139
22.217
Investment income
Other incorne
1.840
1,840
2,690
Total
2,537,933
2.537.933
2.680,816
EXPENDITURE ON
Ch4ritable aetivities
Support Costs
Research and dissemination on Social, ￿)lItical
and economic issues
8,116
8.116
7,939
2,494.456
2,494,456
2.552,380
Tot41
2.502.572
2.502.572
2.560,3 19
NET INCOME
35.361
35,361
120,497
RECONCILIATION OF FUNDS
Total funds brought foTw4rd
.033,652
1.033,652
913,155
TOTAL FUNDS CARRIED FORWARD
1069.013
1069013
1033 652
CONTINUING OPERATIONS
All income and exp¢nditur¢ arisen from ¢ontinuing aaivilies.
The not¢5 forni part of these f￿ancial 5taiements
Page 13

INSTITUTE FOR P
BLIC POLICY RESEARCH
EGISTERED NUMBER.
2926111
BA
CESHE
1ST DECEMBER 2020
2020
Totsl
funds
2019
Total
funds
Ut)restricted
fund
Restricled
funds
N￿e5
FIXED ASSETS
Invesknents
10
100
CURRENT ASSETS
Debtors
Cash at bank
679.065
1250 687
679,065
1250 687
546.010
906 189
1,929,752
1,929,752
1,452,199
CREDITORS
Amounts falling due within one year
12
(860,839)
(860,839)
(509,830)
NET CURRENT ASSETS
1068913
1068 913
942 369
TOTAL ASSETS LESS CURRENT
LIABILITIES
1.069.013
1,069.013
942,469
NET ASSETS
1069013
1069013
942 469
FUNDS
Unrestrided fijnds
069013
942 469
TOTAL FUNDS
1069013
942 469
These fmancial stat¢menis have been prepared in accordanee with the provisions applicable to charitable companies
subject to the small wmpanie5 regime.
ial statements were approved by th¢ Board of Trusttts and kuthorised for i55ue on
and were signed on its behalf by:
K Barclak-
stee
The nO￿S fomi part of these financial statements
Page 14

INST
TUTE
ORP
BLI
OLICY RESEARCH
RE
ISTE
EDN
MBER: 112292601
CONSOLIDATED BALANCE SHEE
31ST DECEMBER 2
2020
Total
fund$
2019
Toial
funds
Unrcstricted
nd
Restricted
fund5
Not¢5
CURRENT ASSETS
Debtors
Cash at bank
509.168
1494 148
509,168
1494 148
492,950
153279
2.003,316
2.003.316
1,646.229
CREDITORS
Amounts falling due within one year
12
(934.303)
(934,303)
{612.577)
NET CURRENT ASSETS
1069013
1069013
033 652
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,069,013
1.069.013
,033,652
NET ASSETS
1,069013
1069013
033 652
FUNDS
Unre5tricied fund5
1069013
1033 652
TOTAL FUNDS
1.069.013
1033 65?
These financial statements have been prepared in accordan¢¢ with the provisions applicable lo charitable companies
subj¢d io the small companies regime.
The finan
tatements were approved by the Board of Trustres and authorised for issue on
. and wer¢ signed on its behalf by:
The notes fom) part of these financial ststements
Page 15

INSTITUT
FORP
BLIC POLICY RESEARCH
ASH FLOW STATEMENT
FOR THE YEAR ENDE
JISTDE
EMBER 2020
2020
2019
Notrs
Cash flows from operatlDg ¥Jetivities
Cash generated from operations
339 029
170 235
Net cash provided byl(used in) operating activiti¢s
339 029
170
Cash flows from investlDg #etivities
Interest received
Net cash provided by investing activities
Change in cxsh and easb ¢quiv*lents in
the reportittg period
Cash and cash equivalents at th¢
beginning of the reporting period
340,809
173,925
1153 279
980 354
Cash and cash equivalents at Ihe ¢nd of
the reporting period
1494 148
1153 279
The notes forni pan of these fin2nctal 5taiernents
Page 16

INSTITUTE FOR PUBLIC
ICY RE
CH
NOTES T
HE CASH FLOW STATEMENT
RTHEYE
R ENDED
1ST DECE
ER 21120
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2020
2019
Net income for tbe reportlDg period (as per tbe Statement ofFiDxnci•l
Activities)
Adjustments for:
Interest re¢¢ived
Increase in debtors
In¢rea5e in creditors
35,361
120,497
(1.840)
(16.218)
321726
(2,690)
{84,540)
136908
Net cash provided byl{used in) operations
339 029
170235
ANALYSIS OF CHANGLS IN NET FUNDS
At Iiir20
Cash flow
At31112120
Net Casb
Cash at bank
340 869
494 148
340 869
1494 148
Totsl
1 153 279
340 869
1494 148
The notes fomi part of thes¢ financial Statements
Page 17

NSTI
UTE FOR PUBLIC P
LICY R
SEAR
TES TO THE FINANCIAL STATEMENTS
FORT
EYEA
ENDE
31ST DECEMBER 202
ACCOUNTING POLICIES
Basis of pre￿rIng tb¢ fingnti41 statements
Th¢ financial statements of the charitsble COTnpany. which is a public benefit entity under FRS 102. have be¢n
prepared in accordance with the Chariiies SORP {FRS 102) 'Accouniing and R¢porting by Chariti¢s- Statem¢nt
of Recommended Practice applicable to charities prepaTing their a¢¢ounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 20191,,
Financial Reporting Standard 102 The Financial Reporttng Standard applicable in th¢ UK and Republic of
Ireland, 2nd the Companies Act 2006. The fllwicial ststernents have been prepared under the histori¢al cost
Convention, with the exception of investhients which are Tncluded a¢ rn￿et value.
At the lime of approving the financial staternents. the tn￿tee% have a Teasonable expectation that the charity has
adequate resources to Continue in operational existence for the foreseeable future, includin8 taking into account
any potential impac¢ of the Covid-19 pandemic. and on basis the charity is considered to be a going
oncern.
Preparation of cons0lid*ted fiDantial st*tem¢nts
These financial 5taternents ¢onsolidat¢ the results of the charity and its wholly-owned subsidiary. IPPR Trading
Ltd prepared to 3 IX December 2020, on a line by line basis. A separdte sthiemeni of financial activities and
income and expenditure ac¢ouni are nol presented for the charity itself following the exemptions afforded by
Section 408 of the Companies Act 2(kn and the SORJI.
Group financiAI $tatements
These financial ststements consolidwe the results of the charity and its wholly-owned subsidiary, IPPR Trading
Ltd, on a line by line basis. A separdie staiem¢nt of fjnancial activilies and income and expenditure account are
not presented forthe tharity itself following the exemptions afforded by Secti¢)n 408 of the Companies Act 2006
and the SORP.
Income
All income is recognised in the Ststement of Financial Activities once the charity has ¢ntitlem¢nt to th¢ funds, it
15 probable that the income will be received and the amount can be measured reliably.
Eipenditure
Liabilities are r¢cognised as expenditure as soon as there is a legal or constructive obligation committing th¢
charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation be m¢asured reliably. Expenditure 15 accounted for on an a¢cn]als basis and has
been cla$5ified under headings that aggregate all cost relat¢d to the category. Where costs cannot be directly
attribut¢d io particular headings they have bttn allocated to aclivities on a basi5 consistent with the use of
resourc¢s.
T4XAtIoD
The Charity is considered to P155 the tests set out in Paragraph I Schedule 6Finance Act 2010 and therefore it
meets the definition of a charitsbl¢ company for UK Corporation T&xes purpose5. Accordingly the Charity is
potentially exempt from tsxation in respect of income or capitsl gaing received within caie8ories cov¢red by
Chapter 3 Part I I Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Aci 1992, to
the ¢xtent such income or gains are applied ex¢lu5ively to charitable PUTposes and the subsidiary eompany
has made sufficient covenant I gift aid payments to the parent charity to extinguish any liability to corporation
Fvnd accounting
Unrestricted funds can be us¢d in a¢COrdan￿ with the charitsble objethives At the discretion of the tnEStees.
Restricted funds can only be used for particular restricted puw¢s within the objects of th¢ charity.
R¢striciions arise when Specified by the di)nor or when funds are raised for particular restricted pU￿oses.
Further explanation of the nature and purpose of each fund is included in the not¢5 to the financial stalements.
Page 18
coniinued...

IN
TUTE FOR P
OLICY R
CH
OTES TO THE FINANCIAL
TATEMEN
- ¢ontinved
FOR THE YEAR ENDED 31ST DECEMBER 2020
ACCOUNTING POLICIES- eiiDtinued
Foreign currencies
A55ets and liabilities in foreign currenci¢5 ar¢ translatsd into ￿erling at the rate5 of VAchange Tuling at the
balonce sheei date. Transactions in foTEign currencies art translated into sterling at the rate of ¢x¢hange rnling
at the date of transaction. Ex¢hange differen￿ are taken into account in arriving at the operating resulL
PeD5iQD
All Staff have the opportunity to tske part in a stakeholder pen5ton schem¢ under a salary sacrifi¢e payable by
the employer during the year on behalf of the employ¢¢.
Operating le¥se
Rentals payable under operating le&8es are *ed to the Statemenl of Financial Activities on a 5traight-line
basis over the lease terni.
DONATIONS AND LEGACIES
2020
2019
Donation5
Activities for generating fi]nd
1,905,711
547 952
2,014,067
569 633
2 453 663
2 583 700
Included in the above were..
2020
2019
Received durlng tbe yur
Abbvie Ltd
Accounts Payabl¢,
Asso¢iation of British Insurers
Association of Personal Injury Lawyers (APIL}
A5traZ¢neca UK Ltd
Barrow Cadbury Trust
Baxter Inl¢rnational Inc
Bazalgette tunnel limited (tla Tideway }
British Heart Foundation
Cancer Research UK
City of London Corporation
Clydesdale and Yorkshir¢ Banking Group
Deloitte UK
Diabetes UK
Doctors of the World
Eli Lilly & Company Ltd
Esmee Fairbairn Foundation
EU REDEEM
European Climate Foundation
Frdser of Allander Instituie
Friends Provident
Further Education TTUSt for L£adership (FETL)
Garfield Weston
Gilead S¢ienre5
GlaxoSmithKlin¢
Gu¢rn5¢y Community Foundation
Carried forward
45.000
43.OIM)
30,000
29,750
70.000
30,000
19,0(HJ
18,000
19.850
15.000
16,01)0
40,000
19.000
67.000
10,000
33,11)0
70,000
100,000
28,000
75.000
90.512
32,580
37,51)0
113.0(10
33.000
45,000
70,000
90,000
70,000
105,000
837292
647,000
Page 19
¢ontinued...

STI
UTE
ORP
BLI
POL
CY RESEARCH
TES TO THE FINANCI
OR
HEY
ARE
ED
LSTA
EMENTS-
ISTD
CEMBER2
20
DONATIONS AND LEGACIES- conthl￿ed
Brought forward
Health Foundaiion
Independent Age
Islington Council
Janssen-shopland Jones
John Mills
John Wiley & Sons Limited
Johnson & Johnson
Joseph Rowntree Foundation
JP Morgan
Legal Education Foundation
Lloyds Bankirtg Group
Local Trust
Lowel Financial Ltd
LUMINATE US SERVICES LLC
Margareth Hayman Foundation
Martin Taylor
MIGRATION YORKSHIRE
Millfield House Foundation
MSD
Nationwide Foundation
New Economics Foundation
Northern Powerhouse I I
Northern Housing Consortium
Novo Nordi5k
Partners for a New Economy
Paul Elliott
Paul Hamlyn Foundation
priz¢r
Poverty and Inequality Cornmission
RECKITF BENCKISER CORPORATE SERVICE
Scottish Government
S¢ottish Policy Foundati¢)n
Siernens Healthcare Limited
Standard Lif¢ Foundation
837.292
647,000
17,000
20.000
19,800
15,000
46,000
43,980
25.000
31,875
285.724
295.000
18,000
67,000
37.034
42,000
49,113
20,000
200,(MJO
34,947
58.OlX)
85,000
30,000
56,000
18,797
18,500
20,01)O
21.000
40,000
73.0
15.000
160.000
25.000
30,000
18,000
100,000
26.000
30.000
30,000
30.OLK)
102.LK)O
Stonewater
The John Ellernian Foundation
The Legal Education Foundation
The Legatum InstÉtute FoundatiOD
Trevor Chinn
Trust for London
Unbound Phtlanthropy
42.480
70.000
43,750
18,500
15,000
22,000
33.000
15
Page 20
continued...

UTE FOR P
IC POLICY RESEARCH
NOTES TO THE
NANCIAL
ATEMENrs.
E YEAR END
1ST DE
R 2020
tinued
DONATIONS AND LEGACIES- ¢ontinved
Deferred to 2021
Abbvie Ltd
Audit reforni
Ba￿oW Cadbury Tn￿t
CRISIS
Diabetes UK
Ellerman Foundation
Equaliry and Hurnan Rights Commi&siort
EU REDEM
European Climatr Foundation
Garfield Weston
Gl&xoSmithKline
Guemsey Community Foundation
Janssen Shopland Jones
Johnson & Johnson
Joseph Rowntree Foundation
J P Morgan
Lloyds Banking Group
Margareth Hayman Foundation
Millfi¢ld
Northern and Steel
Paul Hamlyn Foundation
Partners for a New Economy
Reckitt Benckins¢r
Resolution Foundation
Royal College of Midwiv¢s
Scottish Policy
Standard Life Foundation
T￿ B¢nefit Model Legatum
The Legal Education
Unbound Philanthropy
45,000
32.000
9,000
12.000
10.o(N)
15,000
3,500
24.000
5.300
10.000
10,000
5.000
70,000
15,000
25.000
12,600
162,862
15,000
147,350
15,000
42.0(10
13.000
70.000
20.000
85,000
6,250
10,OOD
2.500
27,000
3,083
3,750
684 545
INVESTMENf INCOME
2020
2019
Deposit a¢¢ouni interest
Page21
¢ontinued...

INSTITUTE F
PUB
Ic
LICY
ESE
RCH
NOTES TO THE FINANCIAL STATEMEYTS- contin
FOR THE YEAR ENDED 31ST DECE
BER
20
INCOME FROM CHARITABLE ACTIvrrIES
2020
Activity
Charitable activities
Charitsble athivitie5
2019
Sale publications
Honoraria & sundry
43.980
20,968
CHARITABLE AcfiviTIES COSTS
2020
2019
Support Costs
Rcsearch and disseminatton on social. political and ecthjixnic issu¢3
8,116
249445
7,939
NET INCOMEI{EXPENDITURE)
Net tncomel(expenditure) is stated after ¢lwginpJ(ITediling)."
2020
2019
Auditovs r¢munerntion- Audil ser¥ic¢s
Auditovs remun¢ration- Non Audit 5ervi¢e5
5,400
5,300
TRUSTEES. REMUNERATION AND BENEFITS
There were no tnjstees. remuneration or other benefits for the year ended 3 1st December 2020 nor for the year
end¢d 3 1st December 2019.
Trusttts. eipenses
Ther¢ were reimbursed expenses paid to l Tnwee I0￿11ng £27 (2019 - £187
travelling ¢xpens¢$.
l Trusttt) in respect of
STAFF COSTS
2020
2019
Wages and Salartes
Social Security costs
Pension Costs
1,570,478
162.487
80
1,468.339
154,067
Page 22
continued...

INSTIT
E FOR PUBLI
POLICY RESEARCH
TES TO THE FINANCIAL STATEMENTS-
E YEAR END
31ST DECEMBER 2020
tinued
STAFF COSTS- CODtinued
The average monthly number of employees during the year was as follows:
2020
24
13
2019
25
Research
External Affairs
Operation5
43
40
The number of employees whose employee benefits (excluditig employer pension costs) ¢xceeded £60,000 was:
2020
2019
£60,001- £70.(N)O
£80.001- £90,(MIO
£ioo.000 - £110,000
The ayerdge number of employe¢s on a Full Time Equivalent b&sis w&4 39.5.
Key manag¢m¢nl emolument4 deemed to be th¢ Tn￿￿5 and senior It￿lagemen( amount￿ to £434,283
(2019-. £432,142)
2019 COMPARATIVES FOR THE CONSOLIDATED STATEMEKf OF FINANCIAL
ACTIVITIES
UnTe5tricted
fund
Restricted
funds
Totsl
fimds
INCOME AND ENDOWMENTS FROM
Donations and l¢gaci¢s
2.645,909
10.(y)o
2,655.909
Charltsble #ctivitie5
Charitable activities
22217
22,217
Investment income
2,670.816
10.000
2,680,816
EXPENDITURE ON
Charltable aetivities
Support Costs
Research and dissemination on sociaL
political and economic issues
7.939
7,939
2,542.380
10.000
2,552,386
Total
2.550.319
10.0
2.560,319
NET INCOME
120.497
120,497
Page 23
ontinued...

STITUTE
BLIC
OLI
YRE
EAR
TES TO THE FIP4ANCIAL STATEMENTS- eoDtinued
ORT
EYE
R ENDED 31ST DECEMBER 2020
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- e0n¢in￿ed
Unrestricted
Restrict
fund
funds
Total
funds
RECONCILIATION OF FUNDS
Tot*1 fund8 brougbt forw¥Jrd
913,155
913,155
TOTAL FUNDS CARIUED FORWARD
1033 652
1033 652
io.
FIXED ASSET INVESTMENTS
Share5 in
group
und¢rtakinES
MARKET VALUE
At 1st January 2020 and
3 1st De¢ember 2020
100
NET BOOK VALUE
At 3 1st December 2020
100
At 3 1st December 2019
100
There were no invesknent &ssets Outside the UK.
DEBTOILS: AMouKfs FALLING DUE WITHIN ONE YEAR
Group
2020
Cornpany
2020
Group
2019
Compony
2019
Trade debtors
Amounts owed by group
undertakings
Other debtors
Prepayments and
accrued income
445,349
393.149
389,660
218.420
239,426
224.300
20.805
3,476
55.883
55,883
Pa8e 24
continued...

IN
UTE FOR P
BLIC POLI
Y RESEAR
NOTES TO THE FINANCIA
ST ATEMENTS- contin
FOR THE YEAR ENDED 31ST DECEMBER 2020
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2020
Company
2020
GTOUP
2019
Company
2019
Trade creditors
Social security and other
taxes
71.797
47.683
42.582
42,581
46277
46277
44.016
44,016
VAT
Oth¢r creditors
AccThals and deferred
income
108,778
13.906
108.778
13,906
57,460
35,992
47.276
35.992
693 545
432 527
13.
LEASING AGREEMENTS
Minimum lease paym¢nts under non-cancellabl¢ ¢)p¢rdting le45es fall due as follow5:
2020
2019
Within one year
Between one and five years
106,130
143 743
105,538
249 873
14.
MOVEMENT IN FUNDS
Net
movement
in fi]nds
At
31112120
Ai Iiir20
Unrestrlcted fuDds
Generdl fund
1.033.652
35.361
1.069,013
TOTAL FUNDS
1033 652
1009013
Net movement in fijnds. in¢luded in the above are ￿ follow$:
Incoming
resources
Resources
expended
Mov¢ment
in funds
Unrtstrieted lunds
Genernl fund
2.537,933
(2.502.572)
35.361
TOTAL FUNDS
2 537 933
2 502 572
Page 25
continued...

INSTIT
TEF
R PUBLIC POLI
RESEARCH
NOTES TO THE FINANCIAL STATEMENTS- contlDued
ORT
YE
END
D31
DECE
BER 202
14.
MOVEMENT IN FUNDS- continued
Compxrativey for movement in ¢onsolidattd funds
Ne(
movement
in thnds
At
31112119
At 111119
Unrestricted futtds
General fund
913.155
120,497
1,033,652
TOTAL FUNDS
913 155
120497
1033 652
Compardtive net movement in consolidated funds. in¢luded in the atrx)ve are as follows..
Incoming
Resource$
expended
Movement
in funds
UDre5trieted funds
G¢nerdl fund
2,670.816
(2.550,319)
120,497
Restricted fut)d$
Barrow Cadbury Trust
10,oth)
(10,000)
TOTAL FUNDS
2680816
2560319)
120 497
Beyond the hostile environment {Barrow C&dbury Tryst)
This projecl ￿sesseS the oplions for the UK'S futur¢ migration policy aft¢T it leave5 the EU and sets out new
proposals for a future immÉgration system for EU and non-EU n￿lonal$.
EMPLOYEE BENEFIT OBLIGATIONS
Is.
All staff have the opportunity to take part in a stskeholder pension scheme under a salary wrifice arrangement
with a noTninated d¢fined rontribution group stakeholder pension scheme. Contributions are accounted for in
the income and expenditure account when paid. Th¢ pensÈon costs charged in the year amounted to £55,800
(2019= £149,341). At the balance Sheet date there were £13,907 (2019.. £27,542) of outstanding contributions
that were paid in January 2021.
Page 26
continued...

INSTITUTE FOR PUB
Ic
LICY RESEARCH
NOTES TO THE FIN
FOR THE YEAR END
CIAL STATEMENTS- CODti
D31
DE
EMBER 2020
16.
RELATED PARTY DISCLOSURES
During the year the company recharged costs of £353.878 12019.. £285,130) to IPPR Trading Ltd. At 31
December 2020 th¢ company w&5 owed from IPPR Trading Ltd £239.426 {2019.. £224,300).
INVESTMENT IN SUBSIDIARIES
17.
The investment of £100 represents the whole of the issued share ￿p1th1. which is made up of £1 ordinary shares,
of IPPR Trdding Ltd. a company incorporned tn Great Briratn, which carries oul commissioned research on
public poli¢y. The companys gross income for the year to 31 December 2020 w&5 £435,514 (2019.. £427,953)
and th¢ net 10$5 for the pericMI of £91,183 (2019- profit of £66,866). Th￿¢ will be no donatioll to the holding
company leaving a net balance sheei ioial of £lOO.
PRTr
Lt
tandl
2020
2019
Turnover
Cost of sales
Administrative expenses
Bank inter¢st
Donatiot]5 to holding company
435.514
(435.398)
(116)
427.953
(336,631)
(139)
183
ILoss)IProfit on ordinary activilies
Page27