COMPANY REGISTRATION NUMBER: N1656760 CHARITY REGISTRATION NUMBER: NIC108559 Politics in Action Company Limited by Guarantee Financial Statements 31 August 2024 Politics in Action 83 University Street Belfast BT7 1HP
Politics in Action Company Limited by Guarantee Flnancial Statements Year ended 31 August 2024 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) 12 Statement of financial position 13 Notes to the financial statements 14
Politics in Action Company Limited by Guarantee Trustees, Annual Report (Incorporating the Dlrectols Report) Year ended 31 August 2024 The twstees, 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 August 2024. Reference and administratlve detalls Reglstered charity name Politics in Action Charlty reglstration number 108559 Company registratlon number N1656760 Princlpal office and reglstered 83 University Street office Belfast BTI 1HP The trustees Treasurer (Resigned 17 June 2024) Ms A Burke Mr R Feeney Ms A Mallon Mr D McQuillan Ms M Mcwilliams - Patron Mr R Ross Ms P Yarnell Mr D Scott Ms J Coen Chairperson (Resigned 30 October 2023) (Appointed 3 July 2024) Treasurer (Appointed 3 July 2024) {Appointed 5 November 2024) (Appointed 5 November 2024) (Appointed 8 April 2025) (Appointed 8 April 2025) Mr C McArdle Ms S Fisher MrA Mahon Mr D Shibu Ms J Williamson Audltor Aubrey Campbell & Company Chartered accountants & statutory auditor 631 Lisburn Road Belfast BT9 7GT Structure. governance and management Politics in Action, a company limited by guarantee and registered charity, is governed by a board of trustees. Their task, in conjunction with employed senior management, is to oversee the administration of the charity, safeguard it's assets and resources to ensure that they are used solely in the furtheran of it5 charitable objectives, and to act in its best interests at all times. Board meetings take place periodically, with extraordinary meetings held when necessary. and a general meeting is held on an annual basis. The day-to4ay business of Politics in Action is managed by Executive Director, Mr Paul Smyth. The Executive Directorfs role is to ensure that the charity delivers against its agreed objectives. During this financial year there was a small administrative function provided on a freelance basis, and the organisation also contracted external facilitators to help deliver the programmes in schools.
Politics in Action Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 August 2024 Objectlves and actlvltles Politics in Action, a shared education initialive, was established in 2018 to provide a plaffom and a conduit lo amplify the voices of young people through active collaboration with poltticians, activists, and high-profile partners. Through learning, knowledge sharing, and nurturing the skills required to discuss important issues constructively. the charity supports young people to actively engage the aforementioned groups of people and with each other. to create a more equitable. inclusive political landscape, with six principles in mind- equity, inclusion, partnership, respect, young person centred and fun. The trustees confirni that they have had due regard for the guidance produced on public benefrt by the Charity Commission for Northern Ireland and are pleased to report that, during the period, Politics in Action has continued to provide public benefrts through the programmes and services it offers. Strateglc r•port The following sections for achievements and performance, financial review and plans for future periods fomi Ihe strategic report ofthe charity. Our six values (agreed in the Strategic Plan) are equity, inclusion, partnership, respect, young person centred and fun. Achlevements and performance The Trustees adopted a new Strategic Plan for the organisation to guide our work from 2023 to 2026. The key aims of that plan are to: 1. Grow our network of projects 2. Grow and evidence our impact 3. Ensure our stability The academic year 2023 2024 was a busy one with the final year of our National Lottery Community Fund supported 'The New Nomal, project. New schools joined our nehvork in Newry and Belfast and we vnrked with 21 schools through the course of the year.we were also able to further develop our cross-border work between Portadown College and Loreto Community School in Milford, Donegal thanks to a second grant from the International Fund for Ireland to support our cross-border work (until December 2024). We welcomed Laureen Cuckson as our new freelance finance support person in September and thanks to support from the Rank Foundation's'Timeto Shine, programme we were able to recruit Emily Crudden Mcllhatton in a role supporting the development of our communications from January 2024. A grant from the International Fund for Ireland's 'Our Peace, Our Future, programme allowed us to develop the 'Betler Peace Podcast, series with young people from Donegal, Portadown and Belfast. The series looks at a wide pnge of issues identified by the young people from Votes at 16. to the treatment of women in public life and the Mica crises in Donegal. The series concludes with an episode where the young people met their peers from Bush Radio in Cape Town for an online discussion in the afternath of the South African and UK General Elections. Grants from the Irish Department of Foreign Affairs and the Ireland Funds were crucial in helping to secure our core costs. The Joseph Rowntree Reform Trust has decided to fund our Votes at 16 campaign including support for 8 3 days per week role originally filled by Tracey McArdle and then by Rebecca Corbett. Catherine Kilgallen left her administration role and we have hired Carrie Mulligan to that role.
Politics in Action Company Limlted by Guarantee Trustees. Annual Report {Incorporating the Dlrectorfs Report) Year ended 31 August 2024 Professor Tony Gallagher evaluated both our 'The New Nonnal, and 'Poreto' projects - providing good evidence of the learning and skills development that happens through the projects. Our Young Evaluators helped to design the baseline and follow-up suNeys, and they engaged with Tony, developing their skills and providing important insights into our work. A year on from the historic events marking 25 years since the signing ofthe Good Friday Agreement, we were back at Queen's Universty for an event on 'The Role of Westminsteff in April with over 200 students, the UK Secretary of State, Chris Heaton-Harris MP and local MPS Stephen Farry, Claire Hanna and Paul Maskey. The Better Peace Podcast crew visited Edinburgh and Cardiff to interview young people and experts in each city about the impacts of Votes at 16. The episodes are getting good traction and the young people are covering a very wide range of issues from attitudes to women in public life, the environment, the Mica scandal in Donegal and even a conversation with young people in Cape Town, South Africa about the peace processes here and there. Support from the International Fund for Ireland's 'Transforming Local Leadership, grant allowed us to start a governance review with support from NICVA. This has been really useful and has included a process where we are going to be recruiting and supporting trwo young trustees to join the board in line with the Strategic Plan. Priyam Yarnell and Antoinette Burke stepped down from the Board in December and June respectively and Ciaran MaArdle and Joanne Coen joined in July. Ciaran was also appointed treasurer given his accountancy background. Joanne is a politics teacher from Portadown who has been involved in our work for a number of years. Financlal revlew The Executive Director and his team are committed to the future of Politics in Action. The organisation is working to secure additional funds from existing funders, to attract new funders and to generate income and attract donors. During the year ended 31st August 2024, net incoming resources of £283,000 were generated (2023.. £160,790). The charity received funding from a wide range of public and private funding sources during the period, chiefly The International Fund for Ireland, National Lottery, The Rank Foundation, The Ireland Funds and Joseph Rowntree Reform Trust. Totsl expenditure in the period, to include estimated year end administrative accruals, totalled £276,939 (2023: £178.568). The charity remains in a strong cash and reserves position where total reserves available total £54,722 (2023.. £48,660). with restricted fund reserves available of £29,221 (2023.. £21,870), and unrestricted fund reserves available of £25.500 {2023.' £26,790). Plans for future periods Support from the National Lottery Communty Fund continued until the end of September 2024 and the organisation was at that time in the process of applying for a further Lottery grant. Politics in Action secured a third grant from the International Fund for Ireland's 'Communities in Partnership Programme to extend this work to December 2025. The new phase of the project will involve a second Donegal School (the Royal and Prior), Lismore in Craigavon and a cluster of 5 schools in the Magherafelt area. Politic5 in Action We excited to receive an award from the Ireland Funds, Heart of the Communty scheme in June 2023 of£15,000 to supportthe core costs of the organisation. In June 2024 we secured a further grant of £10,000 also toward core costs. In July 2024 the Labour Party announced that they would introduce legislation to reduce the voting age
Politics in Action Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 August 2024 to 16. This was a significant boost to our Votes at 16 Campaign. and we held a special event at Queen's University in September 2024 to launch the local campaign attracting significant media interest. Our campaign has been funded by the Joseph Rowntree Reform Trust, who also gave us an additional gpnt toward the launch event. In June 2024 the charity secured another grant from the Irish Department of Foreign Affairs, Reconciliation Fund, to help support the salary of the Executive Director. Politics in Action has made progress in the implementation of its, Strategic Plan. We have expanded our work and developed new projects and have secured new funding. Support from the Rank Foundation has allowed us to increase our profile and build awareness of our work. Support from the International Fund for Ireland has allowed us to address the Board's desire to recruit two young Trustees to INe up to our'young Person Centred, value.
Politics in Action Company Lim ited by Guarantee Trustees, Annual Report (Incorporating the Dlrectols Report) Year ended 31 August 2024 Trustees. responsibilities ststement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees. report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally 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 ststements, the trustees are required to". select suitable accounting policies and then appty them consistently., observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charty's transactions and disclose with reasonable accuracy at any time the financial position of the charty 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 irregularities. 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 audit infomiation and to establish that the charity's auditor is aware of that information. The trustees, annu behalf of the bo I report and the strategic report were approved on 28 May 2025 and signed on of trustees by.. Mr R Ross (Chairperson} Trustee Mr C Mo4rdle (Treasurer) Trustee
Politics in Action Company Llmlted by Guarantee Independent Auditorfs Report to the Members of Politics in Action Year ended 31 August 2024 Oplnlon We have audited the financial statements of Politics in Action (the 'charity'} for the year ended 31 August 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view ofthe state ofth8 charity's affairs as at 31 August 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with Unrted Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing {UK) {ISAs {UK)} and applicable law. Our responsibilities under those standards are further described in the auditols responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in a¢cordan¢e with these requirements. We believe that the audit evidence we have obtained is sufficient and appropri8te to provide a basis for our opinion. Conclu8lons relatlng to golng concern In auditing the financial statements, we have concluded that the trustees, use of the going concam basis of accounting in the preparation of the financial statements is appropriate. Based on the worf< we have perfomied, we have not identrfied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a peri¢xl of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Politics in Action Company Limited by Guarantee Independent Audltorfs Report to the Members of Politlcs in Action (contlnued) Year ended 31 August 2024 Other Inforniatlon The other information comprises the infomation included in the annual report, other than the financial statements and our audrtorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other infonnation and, except to the extent otheThvise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infonnation and. in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether there is a material misstatement in the financial ststements or a material misstatement of the other infonnation. If, based on the work we have perft)rmed, we conclude that there is a material misstatement of this other infomation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the trustees, report for the financial year for which the financial statements are prepad is consistent with the financial statements,. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are required to report by exception In the light ofthe knowledge and understanding ofthe charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees. report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf, in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and retums., or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the infomiation and explanations we require for our audit.
Politics in Action Company Llmited by Guarantee Independent Auditorfs Report to the Members of Polltlcs In Action (eontlnuod) Year ended 31 August 2024 Responsibilities of trustees As explained more ful in the trustees, responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees detemine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable. matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic aarnatIVe but to do so.
Politics in Action Company Limited by Guarantee Independent Auditorfs Report to the Members of Politlcs In Action (coniinu•rfJ Year ended 31 August 2024 Audltorfs responsibilitles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of deteding irregularities, including fraud is detailed below= Our approach to identifying and assessing the risks of material misststement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows.. the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identfy or recognise non-compliance with applicable laws and regulations: we identified the laws and regulations applicable to the charity through discussions with trustees and other management; - we assessed the extent of compliance wtth the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularty and the team remained alert to instances of non<ompliance throughout the audit. We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: making enquiries of management as to where they considered there was susceptibilty to fraud, their knowledge of actual, suspected and alleged fraud: and - considering the intemal controls in place to mitigate risks of fraud and non<ompliance wilh laws and regulations. To address the risk of fraud through management bias and override of controls, we.. perfomied analytical procedures to identfy any unusual or unexpected relationships; tested journal entries to identify unusual transactions. and assessed whether judgements and assumptions made in detemining the accounting estimates set out in note 3 were indicative of potential bias. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included. but were not limited to.. - agreeing financial statement disclosures to underlying supporting documentation;
Politics in Action Company Llmited by Guarantee Independent Auditor's Report to the Members of Politlcs in Action (continuedj Year ended 31 August 2024 reading the minutes of meetings of those charged with governance,. and enquiring of management as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is Ihal we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance wrth laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, rf any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of materi81 misstatement of the financial statements, whether due lo fraud or error, design and perfomi audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's abilty to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to Ihe related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whetherthe financial statements representthe underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal control that we identify during our audit. 10
Politics in Action Company Limlted by Guarantee Independent Audltorfs Report to the Members of Politics in Action (condnutd) Year ended 31 August 2024 Other matter The prior period financial statements were not audited. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charity's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have fomied. Joh Magee ( enior Statutory Auditor) For and on behalf of Aubrey Campbell & Company Chartered accountants & statutory auditor 631 Lisburn Road Belfast BT9 7GT 28 May 2025 11
Politics in Action Company Limited by Guarantee Statement of Flnancial Actlvltles (including Income and expenditure account) Year ended 31 August 2024 2024 2023 Unrestricted funds Restricted funds Total funds Totsl funds Income & endowments Donations & Legacies Notes 8,435 274,565 283,000 160,790 Total Income 274 565 283,000 Expenditure Expenditure on Charitable Activities 10,380 266,559 276,939 178,568 Total Expendlture 266 559 276 939 178 568 Net Expendlture Transfers between funds 655 (655) Net movement in funds Reconciliation of funds Total funds brought forward 26.790 21,870 48.660 66,438 Totsl funds carried foard 25,500 29,221 54,722 48,660 The statement of financial activities includes all gains and losses recognised in the year. All income and expendtture derive from continuing activities. 12
Politics in Action Company Llmlted by Guarantee Statement of Flnanclal Position Year ended 31 August 2024 2024 2023 Notes Fixed Assets Tangible Fixed Assets 13 7.062 3,773 Current Assets Debtors Cash at bank 14 22,575 67,498 90,073 106,601 106 601 Creditors.. Amounts falling due within one year 15 58,940 45.186 Net current assets 47,660 44,887 Total assets less current Ilabilities 54,722 48,660 Net assets 48,660 Funds of the charity Restricted Funds Unrestricted Funds 29,221 25,500 21,870 26,790 Total Charity Funds 19,20 These financial statements were approved by the board of trustees and authorised for issue on 28 May 2025, and are signed on behalf of the board by.. C MGArdle (Treasurer) Trust R Ross (Chairperson) Trustee 13
Politics in Action Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2024 General information The charity is a public benefrt entty and a private company limited by guarantee, registered in Northem Ireland and a registered charity in Northern Ireland. The address of the registered office is 83 Universty Street, BeaSt, BT7 1HP. Statement of compliance These financial statements have been prepared in Complian with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng policies Basls of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilrties and investment properties measured at fair value through income or expenditure. The financial ststements are prepared in sterling, which is the functional currency of the entty. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tenns of an appeal and fall into one of two sub-classes.. restricted income funds or endowment funds. 14
Politics in Action Company Llmited by Guarantee Notes to the Financial Ststements {contlnued) Year ended 31 August 2024 Accountlng policles (conllnuedj Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charty and the amount can be reliably measured. The following specrfic policies are applied to particular categories of income.. income from donations or grants is recognised when there is ellldence of entitlement to the gift, receipt is probable, and its amount can be measured reliably. legacy income is recognised when receipt is probable, and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestrided funds unless there is a contractual requirement for rt to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended. Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefrt of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitabSe activities. other expenditure includes all expendrture that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable, and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impaimient losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumuEated impairment losses. 15
Politics in Action Company Limited by Guarantee Notes to the Financial Statements {contlnueo) Year ended 31 August 2024 Accounting policies (contlnued) Tangible assets {continu•d) An increase in the carrying amount of an asset as a result of a revalualion, is recognised in other recognised gains and losses, unless it reverses a charge for impairmenl that has previously been recognised as expenditure within the statement offinancial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Equipment 20 % reducing balance Impalmient of fixed assets A review for indicators of impaimient is carried out at each pOrting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when ri is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impaimient testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those unrts. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Curnt assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. IAlhere investments in shares are publicly traded or their fair value can otherwise be measured reliabty, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaimient. 16
Politics in Action Company Limited by Guarantee Notes to the Financial Ststements (ntInued} Year ended 31 August 2024 Accounting policies (¢¢>ntlnugd) Financial instruments fconllnuedj Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the fLrture payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, wtth any changes recognised in the statement of financial activities, with the exception of hedging instruments in designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impaimient, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of signrficance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount vrfould have been had the impairment not previously b&n recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 17
Politics in Action Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 August 2024 Limited by guarantee The company, being a company limited by guarantee, does not have share capital. The liabilty of members is limited to £1 per member. t)onatlons & Legacies Unrestricted Restricted Funds Funds Total Funds 2024 Total Funds 2023 Donations 133 133 12,242 International Fund for Ireland (2022123) International Fund for Ireland {2023124) International Fund for Ireland Podcast Grant National Lottery The Rank Foundation 2024 The Rank Foundation Bursary Grant DFA 2023124 The Ireland Funds 2023124 Joseph Rowntree Refomi Trust 2024 Joseph Rowntree Reform Trust Conference Grant Other Income 76,524 105,616 105,616 9,923 9,923 63,333 63,333 29,825 29,825 1,000 1.000 15,017 15,017 14,994 14,994 24,857 24,857 63,333 8,691 10,000 10.000 8,302 8,302 274 565 283 000 160,790 18
Politics in Action Company Limited by Guarantee Notes to the Flnancial Statements fcontlnu Year ended 31 August 2024 Expendlture on charltable activltles by fund type Total funds 2024 Unrestricted Funds Restricted Funds Politics in Action shared education programmes Support Costs 16,006 5,626 69,747 196,812 266,559 85,753 191,186 276,939 Unrestricted Funds Restricted Total fund5 Funds 2023 Politics in Action shared education programmes Support Costs (11,559) 29,494 17,935 51,945 108,688 160.633 40,386 138,182 178,568 Expendlture on charitable activities by activity 7 type Activltles undertaken directly Total funds Total funds 2024 2023 Support costs Politics in Action shared education programmes 85.753 191,186 276,939 178,568 85,753 191,186 276,939 178,568 Analysis of Support Costs Analysis of support Total 2024 Total 2023 costs Staff Costs General Office Govemance Costs Support Costs 128,921 7,345 7,603 128,921 7,345 7,603 47,317 191,186 80.155 4,050 24,746 29,230 138,181 191,186 Net expenditure Net expenditure is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets 19
Politics in Action Company Limited by Guarantee Notes to the Financial Statements (contlnu8 Year ended 31 August 2024 10 Audltors remuneratlon 2024 2023 Fees payable for the audit of the financial statements Fees payable for the independent examination of the financial statements Other assurance seDiices 5,450 3,000 1,000 1,979 7,429 4,000 11 Staff Costs The total staff costs and employee benefrts for the reporting period are analysed as follows.. 2024 2023 Total Totsl Wages & Salaries Social Security Costs Other Pension Costs 119,653 4,647 4,621 75,465 4,690 128 921 The average head count of employees during the year was 5 {2023: 3). The average number of full-time equivalent employees during the year is analysed as follows: 2024 Number 2023 Number Pemianent Employees Employees on Fixed Term Contracts No employee received employee benefits of more than £60,000 (2023.. None) 12 Trustee remunaration and expenses The charity trustees were not paid or received any other benefrts from employment with the Charity in the year (2023: £NIL). No Trustees were reimbursed travel expenses during the year. (2023.. NIL). 20
Politics in Action Company Llmited by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 31 August 2024 13 Tangible Fixed Assets Equlpment Cost: At 1 September 2023 Additions Disposals At 31st August 2024 4,716 5.054 9,770 Depreclation: At 1 September 2023 Charge for year Elimination on disposal At 31 August 2024 943 1.765 2,708 Net Book Value: At 31 August 2024 At 31 August 2023 21
Politics in Action Company Limited by Guarantee Notes to the Financial Statements (contlnu Year ended 31 August 2024 14 Debtors 2024 2023 Other debtors 22,575 15 Creditors: amounts falling due wlthln one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 1,959 51,851 4,394 736 8,783 35,571 832 58,940 45,186 16 Deferred Income 2024 2023 Balance at 1 September 2023 Amount released in year Amount deferred in year Balance at 31 August 2024 30,011 (30,011) 46.401 46,401 30,011 30,011 17 Pensions and other post-retirement beneflts Defined contributlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,621 (2023.. £4,690). 22
Politics in Action Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2024 18 Analysis of charltable funds Unrestricted funds At1 September 2023 Income Expenditure Transfers At31 August 2024 General Funds 26,790 8,435 10,380 655 25.500 At1 September 2022 Income Expenditure Transfers At31 August 2023 General Funds 27,820 12,242 4,663 Restricted funds Balance At Income Expenditure Transfers Balance At31 August 2024 September 2023 General Funds 274,565 266,559 655 Balance At Income Expenditure Transfers Balance At31 August 2023 September 2022 General Funds 38,618 148,548 160,633 4.663 21,870 23
Politics in Action Company Limited by Guarantee Notes to the Financial Ststements (Contlnuedj Year ended 31 August 2024 19 Analysis of net ass8ts between funds Unrestricted Restricted Totsl Funds Funds 2024 Fund balances at 31 August 2024 as represented by.. Fixed Assets Current Assets: Creditors less than 1 year Net assets 7,062 30,977 12,539 7,062 106,601 58,940 75,622 29,221 Unrestricted Restricted Total Funds Funds 2023 Fund balances at 31 August 2023 as represented by.. Tangible Fixed Assets Current Assets: Creditors less than 1 year Net assets 2,953 37,352 13,515 26,790 819 52,722 31,671 21,870 3,772 90,074 45,186 48,660 24
Politics in Action Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2024 20 Restricted Funds At1 September 2023 Income Expenditure Transfers At31 August 2024 International Fund for Ireland {20231241 Intemational Fund for Ireland Podcast Grant National Lottery The Rank Foundation 2024 The Rank Foundation Bursary Grant DFA 2023124 The Ireland Funds 2023124 Joseph Rowntree Reform Trust 2024 Joseph Rowntree Refom Trust conferen Grant International Fund for Ireland Fund 1 (Restricted) DFA 2020-23 The Ireland Funds (Restricted) 2022-23 0 105.616 (115.419) (9,803) 9.923 63,333 29,825 {9,923) (71,415) (19,759) 14,905 (296) 6,527 10,066 1,000 15,017 14.994 {1,000) (15,017) (14,994) 24,857 {14.583) 10,274 10,000 (1,784) 8,216 449 2,575 (90) {2,575) (360) (o) 3.940 21869 274 565 3.940 TOTAL 266 559 655 At1 September 2022 Income Expenditure Transfers At31 August 2023 National Lottery DFA 2020-23 Intemational Fund for Ireland Fund 10 {Restricted) The National Lottery (Restricted) Nl Communty Relations Council (Restricted) Community Foundation Northem Ireland (Restricted) The Ireland Funds (Restricted) Interim Funds Central (Restricted) TOTAL 14,844 6,175 63,333 (62,153) (1,119) (3,963) 363 14,905 2,575 (1,663) 10,719 76,524 (78,195) (9,036) 3,783 1,686 449 539 (792) 253 8,201 (1,943) (6,258) (4,751) 197 161.030 8,691 3,940 197 38,618 148,548 1,292 21.869