COMPANY REGISTRATION NUMBER: N1629047 CHARITY REGISTRATION NUMBER: 105797 Social Change Initiative Company Limited by Guarantee Financial Statements 31 March 2024 Finegan Gibson Ltd Chartered accountsnts & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Social Change Initiative Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directors report) Independent auditorfs report to the members Stat8ment of financial activities (including income and expenditure account) 14 Statement of financial position 15 Statement of cash flows 16 Notes to the financial statements 17 Social Change Initiative Company Limited by Guarantee Trustees. Annual Report (Incorporating the DIreCto￿S Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. Reference and admlnistrative detai15 Registered charity name Social Change Initiative Charity registration number 105797 Company reglstratlon number N1629047 Principal offlce and registered 3rd Floor office Wellington Buildings 24 INellington Street Belfast BT16HT The trustees Maggie Beime Christine Bell Michael Posner Nicolette Naylor Hanny Megally {Resigned 13 February 2024) (Appointed 1 May 2024) (Appointed 1 May 2024) Company secretary Martin O'Brien Auditor Finegan Gibson Ltd Chartered accountsnts & statutory audFtor Causeway Tower 9 James Street South Belfast BT2 8DN Bankers Ulster Bank Ltd 11-16 Donegall Square East Belfast BT15UB Sollcltors Farrer & Co 66 Lincoln's Inn Fields London 2A 3LH Social Change Initiative Company Limited by Guarantee Trustses. Annual Report (Incorporating the Directorfs Report) {¢ontinued) Year ended 31 March 2024 Structure, governance and management Governing Document The Social Change Initiative is a company limited by guarantee govemed by its Memorandum and Articles of Association dated 31st October 2017. Its application to be recognised as a charity was accepted by the Charity Commission for Northem Ireland on 30th April 2018. Its registered charity number is: NIC105797. Appointment of Trustees The Trustees recruit and select new Trustees as needed. New Trustees are recrurted on the relevance of their professional skills. and their potential to be able to make a helpful contribution to the govemance of the company. As part of the recruitrnent prO￿sS they are made aware of their obligations and of the content of the Memorandum and Articles of Association. the schedule for meetings and the work plan and financlal posluon of trie company. Relatlonships with relatedpartles None of the Trustees receive remuneration or other benefft from their work wtth the company. Social Change Initiative Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continuedj Year ended 31 March 2024 Objectives and actlvities The purposes of the company are: To promote national and intemational conflict resolution and reconciliation with a view to relieving suffering and distress and building and maintaining social cohesion and trust within and be￿een communities,. - To promote human rights {in particular the human rights of victims of conflict and fOr￿d migration) as set out in the UnNersal Declaratson ot Human Rights and subsequent United Nations conventions and declarations by all or any of the following means: (a) researth into human rights issues (b) raising awareness of human rights issues: (c) promoting public support for human rights: {d) promoting respect for human rights among individuals and corporations; To promote religious or racial harmony by: (a) promoting knowledge and mutual understanding and respect of the beliets and practices of different religious fatths., (b) promoting knowledge and mutual understanding between drfferent racial groups; and - To advan￿ citr£enship or community development by promoting social indusion. The strategies employed to achieve the company's aims and objectives are to.. Convene individuals Support research and publish materials Award fellowships - Operate a mentoring scheme - Provide advi￿. training and consultancy support Social Change Initiative Company Limited by Guarantee Trustses. Annual Report (Incorporating the Directorfs Report) (conllnued) Year ended 31 March 2024 Achievements and perfomianc• The Company has operated successfully for nine years and continues to focus on three thematic areas - Migration, Equality & Human Rights. and Peacebuilding. In the currentyear it has priorrtised two issues in particular - supporting local￿ and intemationally based changemakers and fijnders and working to ensure the continued protection of human rights and the sustainability of pea￿ and reGonciliation in Northern Ireland. A key priority continues to be creating online and in person opportunrttes for people to come together and learn about important issues and build solidarity and connections across different geographies. groups and themes. SCI believes that people working for social change rarely have sufficient opportunities to take time out to rellect and learn. A core part of the organisation's work is helping change makers and funders to be more effective agents for change. Central to this work were a large number of in person. online and hybrid events. Participants came from across the UK, Irelana, the rest of Europe, Afnca, South America. Asia and the United States. Alongside these events SCI continued to produce a range of educational resource materials and tools to support the work and practi￿ of the commUn￿e5 we serve. We ha4e conb'nued to focus on strengthening the dlssemlnatlon of these materials via a regular SCI newsletter, social media outreach and the organisation's website. Lessons from peacebuilding work in Northem Ireland continue to be popular among funders and those working in other deeply divided societies around the WOTld. During the year SCI liobted a range of delegation5 from other confllct sltuatlons keen to learn from Ifie Nl peace process. Staff have also travelled to share learning in other contexts and continue their own direct involvement locally in a range of activities to sustain and improve communty relations and ceTnent the peace in Northern Ireland. This ha5 induded initsatives to ensure no diminution in the laws and mechanisms to protect and advance human rights and equality in Northern Ireland. A key part of the work Gontinues to focus on supporting activism for social change and developing the skills and capacity of a global neiwork of activists. At the heart of our theory of change is a belief that enhancing the skills of people already engaged in working for change yields a signtficant retum on investment. During the year the organisation was pleased to make a new round of fellowship awards to a diverse group of individuals from South Africa, India, Syria, Russia. Palesb"ne, Zimbabwe, Brazil. Tajikistan, Kenya and Greece. The fellowships support their efforts to advance a fairer, more inclusive and peaceful world and focus on enhancing their skills to deliver on their goals and objectives. The fellows join the global network of social change activists which continues to be an ongoing place to share learning, skills, solidarity and practrcal support. The SCI staff team has continued throughout the year to provide the members of the nebNork with advice. support and to broker relationships and resources for nebNork members. As with previous years this work with international changemaker5 has been comp18mented by an ongoing programme of work with people working in Northem Ireland at the local level to support peace building and the protection of human rights. In February the organisation hosted a highly successful four41ay intemab'onal global donor conferen in BelfasL The event focused on the role that funders can play in tackling violent conflict and the growing problem of polarisation. The event integrated all elements of the company's peace building work - built on the back of the 25th anniversary of the Good Friday Agreement, responded directly to what is currently being witnessed in Gazallsrael. Ukraine and other raging conflicts. profiled the importance of localised peace building and provided space for fvnders and activists to engage in meaningfijl discussions and mutual learning. Social Change Initiative Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnuedj Year ended 31 March 2024 The conference secured the participab'on of leading high-profile figures from the worlds of philanthropy, human rights and peacebuilding. Several hundred people attended and the event served to highlight SCI'S work and the need for continuing support for peace building. reconciliation and human rights work in Northern Ireland. Some 70 participants from the main conference signed up for an additional day dedicated to specifically learning about the Current situation in Northem Ireland. s in previous years donors and organisations have continued to approach SCI for strategic advice and consultancy support. This work helps to generate a small amount of income for the company. One element of this work has been to try to apply the lessons from the partnership funding work done by Atlantic Philanthropies and the Northem Ireland govemment This has led tr) several publications and some ongoing dialogue with policy makers about the scope for fvrther philanthropylgovernment partnership to tsckle inequalities and improve public services particularly for disadvantaged communities. The organisation looks fopward to an ongoing programme of productive work in the year ahead. Financlal review The company's activities continue to be resourced by a range of donors most notably through the generous support provided by Atlantic Philanthropies. The grants provide a mixture of support for core sts and project related cost¥ a3soGiated with 8pecffiG SCI programmes 3UGh a3 its leadership development work and support for activists. The rate of spend is very similar to the previous year. Annual income is also reduced due to the anticipated closure of Atlantic Philanthropies and the absen￿ ofany new grants from that source. The company finishes the year with a healthy balance and reserve to fund ongoing and fijture activities in the coming years. Reserves policy andgoing coneem The company remains committed to building its unrestricted reserve largely by selling some specialist services, to funders and social change organisations. Its goal is to secure betrween nine to tWe￿e months expenditure in an unrestricted reserve. The healthy balance sheet and the multi-year funding commitments raise no questions about the company's ability to trade as a going concern. Plans for future perlods The company has a full programme of events for the year ahead. It will also select a new cohort of SCI fellows and maintain its ongoing support for local and international social change actNists. It is continuing its work to disseminate the results of recent significant research into social values. SCI will also continue its support for localty based peacebuilding work in Northem Ireland. Social Change Initiative Company Limited by Guarantse Trustses. Annual Report {Incorporating the Director's Report) (continued) Year ended 31 March 2024 Trustees. responsibilities statement The trustees. who are also directt)rs for the purposes of company law. are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure. for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and then appty them consistently; obseNe the methods and principles in the applicable Charities SORP", make judgments and accounting estimates that are reasonable and pruden( prepare the finatlcial statements on the going con￿rn basis unless it 15 inappropriate to piesume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are Sufficient to show end explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other [￿egUlaritieS. Auditor Each of the persons who is a trustee at the date of approval of this report confinns that" so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware,. and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audrt information and to establish that the charity's auditor is aware of that infonnation. Small company provisions Thls report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemptr'on. Social Change Initiative Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directotrs Report) (conthuedj Year ended 31 March 2024 The trustees, annual report was approved on 15 November 2024 and signed on behalf of the board of trustees by- Maggie Beirne Trustee