COMPANY REGISTRATION NUMBER: NI656760 CHARITY REGISTRATION NUMBER: NIC108559
Politics in Action
Company Limited by Guarantee Financial Statements
31 August 2025
Politics in Action Olive Tree House 23 Fountain Street Belfast BT1 5EA
Politics in Action
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent auditor's report to the members | 6 |
| Statement of financial activities (including income and | |
| expenditure account) | 9 |
| Statement of financial position | 10 |
| Notes to the financial statements | 24 11 |
Politics in Action
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2025
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 August 2025.
Reference and administrative details
| Registered charity name | Politics in Action | |
|---|---|---|
| Charity registration number | NIC108559 | |
| Company registration number | NI656760 | |
| Principle office and registered office |
Olive Tree House | |
| 23 Fountain Street | ||
| Belfast | ||
| BT1 5EA | ||
| The trustees | Mr Alan Mahon | (Resigned on 1 September 2025) |
| Mr Ciaran McArdle | ||
| (Treasurer) | ||
| Mr Danny McQuillan | ||
| Mr Dany Shibu | (Appointed on 8 April 2025) | |
| Mr Darren Scott | ||
| Mr Richard Ross | ||
| (Chairperson) | ||
| Mr Ryan Feeney | ||
| Ms Aoife Mallon | (Resigned on 1 September 2025) |
|
| Ms Joanne Coen | ||
| Ms Jodi Williamson | (Appointed on 8 April 2025) | |
| Ms Sian Fisher | (Appointed on 5 November 2024) |
|
| Key Management Personnel | Paul Smyth | |
| Auditor | Finegan Gibson | |
| Causeway Tower | ||
| 9 James Street South | ||
| Belfast | ||
| BT2 8DN | ||
| Bankers | Ulster Bank | |
| Belfast City Office 1 Branch | ||
| 11-16 Donegal Sq East | ||
| Belfast | ||
| BT1 5UB |
1
Politics in Action
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director’s Report)
Year ended 31 August 2025
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 furtherance of its 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-to-day business of Politics in Action is managed by the Executive Director, Mr Paul Smyth. The Executive Director’s role is to ensure that the charity delivers against its agreed objectives. During this financial year there was a financial management function provided on a freelance basis, and the organisation also contracted external facilitators to help deliver the programmes in schools.
Objectives and activities
Politics in Action, a shared education initiative, was established in 2018 to provide a platform and a conduit to amplify the voices of young people through active engagement with politicians, activists and high-profile partners. Through learning, knowledge and sharing, and nurturing the skills required to discuss important issues constructively, the charity supports young people to actively engage the aforementioned groups of young people and with each other, to create a more equitable, inclusive political landscape, guided by six core values: equity, inclusion, partnership, respect, young person centred and fun.
Public benefit
The trustees confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland and are pleased to report that during the period, Politics in Action has continue to provide public benefits through the programmes and services it offers.
Strategic report including achievements and performance
We continue to deliver against our Strategic Plan. Its aims are to: Grow our network of projects Grow and evidence our impact Ensure our stability
The academic year 2024-2025 was a challenging one for Politics in Action – during which we had to adapt to a changing funding environment. We didn’t secure ongoing funding from the National Lottery Community Fund, and we therefore needed to scale back our schools programme. Grants from the Department of Foreign Affairs and Trade and the Ireland Funds helped to secure a scaled back schools programme. With the support of the Education Authority and Belfast City Council we were able to continue working with 11 schools in Belfast. We also secured a contract with Radius Housing to work with five schools in the Ballymena area from September 2025.
Thanks to support from the Rank Foundation’s ‘Time to Shine’ programme we were able to add Kerry Fitzsimons to the team – helping us with evaluation and our use of data. We were also successful in securing a grant from the Rank Foundation’s ‘Profit for Good’ programme. This allowed our Executive Director Paul Smyth to take part in training provided by the Social Enterprise Academy and gave us an unrestricted grant of £10,000. Paul has used the opportunity to develop our ‘Young Evaluators’ project working with Kerry. Funding we raise in years two and three of the project will also be matched up to £10,000 in unrestricted funds.
2
Politics in Action
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director’s Report) (continued)
Year ended 31 August 2025
Our Votes at 16 Campaign led by over 30 young activists had a significant boost when the new UK Government announced that it intended to legislate to lower the voting age. We held a launch event at Queen’s University in September with young people and key experts from around the UK. Our campaigners also met with Hilary Ben MP the Northern Ireland Secretary in December – who helped to clarify how the legislation would move forward.
We were again successful in securing a grant from the International Fund for Ireland for our cross-border programme. We worked with our Magherafelt cluster of schools (5 in all), Lismore College in Craigavon, Loreto Community School in Milford, Donegal and with the Royal and Prior in Raphoe, Donegal. The fund also supported us through their ‘Transforming Local Leadership’ fund which allowed us to create a process to recruit, support and mentor two young Trustees. Dany Shibu and Jodi Williamson were selected to join the board in April.
We heard in April that our joint bid to the Peace Plus programme with the British Council had been successful. This will give us three years of funding from December 2025 and is our most significant grant to date. Despite a challenging time in the middle of this year, the staff have done a great job in turning that situation around to the point where we were able to build on our reserves by the end of the year.
Financial review
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 2025, net incoming resources of £268,081 were generated (2024: £292,373). The charity received funding from a wide range of public and private funding sources during the period, chiefly The International Fund for Ireland, The Joseph Rowntree Reform Trust, The Rank Foundation, The Energy Savings Trust, National Lottery, Department of Foreign Affairs and Trade and The Ireland Fund and The Community Relations Council. Total expenditure in the period, to include estimated year end administrative accruals, totalled £261,690 (2024: £276,939).
Policy on Reserves
The charity’s reserves policy is to maintain free reserves at a minimum level equivalent to approximately three months’ normal operating expenditure. The trustees consider this level to be appropriate to support cashflow, manage unexpected financial challenges and allow the charity to continue to deliver its charitable objectives during periods of funding uncertainty.
Based on total expenditure for the year ended 31 August 2025, this equates to a reserves target of approximately £65,000.
At the year end, the charity held total reserves of £70,486 (2024: £64,095). This was made up of restricted reserves of £26,984 (2024: £38,595) and unrestricted reserves of £43,502 (2024: £25,500).
Restricted reserves are held for the specific purposes set out by the relevant funders and are not available for the charity’s general use.
After allowing for tangible fixed assets of £5,649, free reserves available to support the charity’s general activities were £37,853.
3
Politics in Action
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director’s Report) (continued)
Year ended 31 August 2025
The trustees note that free reserves were below the target level at the year end. As a relatively new charity, the Board recognises that building free reserves takes time, particularly where the charity is managing a mix of restricted project funding and unrestricted income. The reserves position will continue to be monitored by the Board, with the aim of strengthening free reserves over time as unrestricted income and cashflow allow.
The reserves policy is reviewed annually by the trustees as part of the budgeting and risk management process.
Plans for future periods
We will be appointing new team members to work on the Peace Plus CONNECT project from December – and this 3-year grant will help to secure the future of the organisation, particularly given that funding from the International Fund for Ireland is coming to an end.
The new school year will see a new partnership with Radius Housing where our team will work with 5 Ballymena schools on a ‘Participatory Budgeting’ project. This contract will bring in unrestricted funds. Grants just secured from the Department of Foreign Affairs and Trade, and the Ireland Funds (Heart of the Community) will help to renew our schools programme, and we are working to secure a donation from the Ram Foundation toward a ‘Local to Global’ event for all our schools in the autumn.
Contracts with Friends of the Earth (Northern Ireland) and the Partnership for Young London mean that we are able to pay our ‘Young Evaluators’ to work on evaluations of two youth-centred programmes. We are delighted to have the involvement of highly skilled volunteers Tony Gallagher and Anoosha Gehani in helping to train and support these young people. This means that a match donation of £10,000 has already been secured from the Rank Foundation’s ‘Profit for Good’ programme.
We have been invited to submit a new application to the Joseph Rowntree Reform Trust to support our Votes at 16 campaign from January, and we are planning a bid to the Heritage Lottery Fund for a project to link the stories of these young campaigners to those of the Ulster Suffragettes of a century before.
Our growing team means that we may also need to find new offices to meet our growing needs.
Trustees' responsibilities statement
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 a 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 apply 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;
4
Politics in Action
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director’s Report) (continued)
Year ended 31 August 2025
- 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 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 irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms 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 information and to establish that the charity's auditor is aware of that information.
The trustees' annual report and the strategic report were approved on 21[st] May 2026 and signed on behalf of the board of trustees by:
Mr R Ross Mr C McArdle Trustee Trustee
5
Politics in Action
Company Limited by Guarantee
Independent Auditor's Report to the Members of Politics in Action
Year ended 31 August 2025
Opinion
We have audited the financial statements of Politics in Action (the 'charity') for the year ended 31 August 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows 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 of the state of the charity's affairs as at 31 August 2025 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 United Kingdom Generally Accepted Accounting Practice;
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
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 auditor's 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 accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified 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 period 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.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
6
Politics in Action
Company Limited by Guarantee
Independent Auditor's Report to the Members of Politics in Action
Year ended 31 August 2025
In connection with our audit of the financial statements, our responsibility is to read the other information 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 determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies 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 prepared is consistent with the financial statements; and
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the trustees' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the 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 if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully 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 internal control as the trustees determine 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 concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
7
Politics in Action
Company Limited by Guarantee
Independent Auditor's Report to the Members of Politics in Action
Year ended 31 August 2025
Auditor's responsibilities for the audit of the financial statements
As explained more fully 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 internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's (FRC's) Ethical Standard for Auditors'.
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 concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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 state to the charity's members those matters we are required to state to them in an auditor's 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 formed.
Paul Dolan FCA (Senior Statutory Auditor)
For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN
21[st] May 2026
8
Politics in Action
Company Limited by Guarantee
Statement of Financial Activities (Including income and expenditure account)
Year ended 31 August 2025
| Notes Income & endowments Donations & legacies 5 Charitable activities 6 Total Income Expenditure Expenditure on Charitable Activities 7,8,9 Total Expenditure Net Expenditure Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted funds £ 3,332 37,307 40,639 22,637 22,637 18,002 18,002 25,500 43,502 |
Restricted funds £ 0 227,442 227,442 239,053 239,053 (11,611) (11,611) 38,595 26,984 |
2025 Total funds £ 3,332 264,749 268,081 261,690 261,690 6,391 6,391 64,095 70,486 |
2024 Total funds £ as restated 133 292,240 |
|---|---|---|---|---|
| 292,373 | ||||
| 276,939 | ||||
| 276,939 | ||||
| 15,434 | ||||
| 15,434 | ||||
| 48,660 64,095 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
9
Politics in Action
Company Limited by Guarantee
Statement of Financial Position
Year ended 31 August 2025
| Notes Fixed Assets Tangible Fixed Assets 14 Current Assets Debtors 15 Cash at bank Creditors: Amounts falling due within one year 16 Net current assets Total assets less current liabilities Net assets Funds of the charity Restricted funds Unrestricted funds Total charity funds 19 |
2025 £ 5,649 20,336 110,676 131,012 66,175 64,837 70,486 70,486 26,984 43,502 70,486 |
2024 £ as restated 7,062 12,135 106,601 118,736 61,703 57,033 64,095 64,095 38,595 25,500 64,095 |
|---|---|---|
These financial statements were approved by the board of trustees and authorised for issue on 21[st] May 2026, and are signed on behalf of the board by:
C McArdle (Treasurer) Trustee
R Ross (Chairperson) Trustee
10
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2025
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Olive Tree House, 23 Fountain Street, Belfast, BT1 5EA.
2. Statement of compliance
These financial statements have been prepared in compliance 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.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
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 terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
11
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
3. Accounting policies (continued)
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 charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence 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 unrestricted funds unless there is a contractual requirement for it 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 liability 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, noncharitable 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 benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure 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 impairment 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 accumulated impairment losses.
12
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial 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
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting 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 it 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 impairment 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 units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current 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.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, 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 impairment.
13
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
3. Accounting policies (continued)
Financial instruments (continued)
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 future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a 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 impairment, 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 significance, 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 would have been had the impairment not previously been 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.
4. Limited by guarantee
The company, being a company limited by guarantee, does not have share capital. The liability of members is limited to £1 per member.
14
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
| 5 Donations & Legacies Donations 6 Charitable Activities International Fund for Ireland (2022/23) International Fund for Ireland (2023/24) International Fund for Ireland Transforming Local Leadership International Fund for Ireland (2025/26) International Fund for Ireland Podcast Grant National Lottery National Lottery Awards for All The Rank Foundation 2024 The Rank Foundation 2025 The Rank Foundation Profit for Good The Rank Foundation Bursary Grant Community Relations Council Department of Foreign Affairs and Trade: Reconciliation Fund (2023/24) Department of Foreign Affairs and Trade: Reconciliation Fund (2024/25) The Ireland Funds 2023/24 The Ireland Funds 2024/25 The Joseph Rowntree Reform Trust (JRRT) 2024 The Joseph Rowntree Reform Trust (JRRT) Conference Grant The Joseph Rowntree Reform Trust (JRRT) 2025 Energy Savings Trust Earned Income Other Income |
Unrestricted Funds Restricted Funds Total Funds Total Funds 2025 2024 £ £ £ £ 3,332 3,332 133 |
|---|---|
| 3,332 0 3,332 133 |
|
| Unrestricted Funds Restricted Funds Total Funds Total Funds 2025 2024 £ £ £ £ 0 0 0 29,713 29,713 117,751 4,902 4,902 0 66,254 66,254 0 0 9,923 0 0 63,333 19,450 19,450 0 0 0 29,825 20,695 20,695 0 10,000 10,000 0 0 0 1,000 4,980 4,980 0 0 0 15,017 16,407 16,407 0 0 0 14,994 9,994 9,994 0 11,047 11,047 22,095 0 0 10,000 24,000 24,000 0 20,000 20,000 0 27,307 27,307 0 8,302 37,307 227,442 264,749 292,240 |
15
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
Expenditure on charitable activities
7 by fund type
| Politics in Action shared education programmes Support Costs Politics in Action shared education programmes Support Costs |
Unrestricted Funds Restricted Funds Total funds 2025 £ £ £ 7,184 190,342 197,526 15,453 48,711 64,164 |
|---|---|
| 22,637 239,053 261,690 |
|
| Unrestricted Funds Restricted Funds Total funds 2024 £ £ £ 16,006 69,747 85,753 (5,626) 196,812 191,186 |
|
| 10,380 266,559 276,939 |
Expenditure on charitable activities 8 by activity type
| Politics in Action shared education programmes Analysis of Support Costs Staff Costs General Office Governance Costs Support Costs |
Activities undertaken directly £ 197,526 |
Support costs Total funds 2025 Total funds 2024 £ £ £ 64,164 261,690 276,939 |
|---|---|---|
| 197,526 | 64,164 261,690 276,939 |
|
| Analysis of support costs Total 2025 Total 2024 16,631 16,631 128,921 5,992 5,992 7,345 7,200 7,200 7,603 34,340 34,340 47,317 64,164 64,164 191,186 |
9 Analysis of Support Costs
16
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
| 10 Net expenditure Net expenditure is stated after charging/(crediting): Depreciation of tangible fixed assets 11 Auditors remuneration Fees payable for the audit of the financial statements Other assurance services |
2025 2024 £ £ 1,412 1,765 2025 2024 £ £ 4,764 5,450 1,632 1,979 |
|---|---|
| 6,396 7,429 |
12 Staff Costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| Wages & Salaries Social Security Costs Other Pension Costs |
2025 2024 Total Total £ £ 142,942 119,653 7,716 4,647 4,684 4,621 155,342 128,921 |
|---|---|
The average head count of employees during the year was 5 (2024: 5). The average number of full-time equivalent employees during the year is analysed as follows:
| Permanent Employees Employees on Fixed Term Contracts |
2025 2024 Number Number 1 2 4 3 5 5 |
|---|---|
No employee received employee benefits of more than £60,000 (2024: Nil)
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £58,224 (2024: £54,495)
17
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
13 Trustee remuneration and expenses
The organisation's trustees did not receive remuneration in the year however they were reimbursed travel expenses and research project related expenses in year totalling £42.80 (2024: Nil)
14 Tangible Fixed Assets
| Cost: At 1 September 2024 Additions Disposals At 31st August 2025 Depreciation: At 1 September 2024 Charge for year Elimination on disposal At 31st August 2025 Net Book Value: At 31 August 2025 At 31 August 2024 15 Debtors Other debtors 16 Creditors: amounts falling due within one year Trade creditors Accruals and deferred income Social security and other taxes Other creditors |
2025 £ 20,336 20,336 2025 £ 967 64,413 0 795 66,175 |
Equipment £ 9,770 0 0 |
|
|---|---|---|---|
| 9,770 | |||
| 2,708 1,413 0 |
|||
| 4,121 | |||
| 5,649 | |||
| 7,062 2024 £ as restated 12,135 12,135 2024 £ as restated 1,959 54,613 4,394 736 61,703 |
|||
18
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
17 Deferred income
| Deferred income | ||
|---|---|---|
| Opening balance Amount released in year Amount deferred in year Closing balance |
2025 £ 49,163 (49,163) 59,649 59,649 |
2024 £ As restated 30,011 (30,011) 49,163 |
| 49,163 |
Pensions and other post-retirement 18 benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,684 (2024: £4,621).
19 Analysis of charitable funds
Unrestricted funds
| General funds General funds |
At 1 September 2024 Income Expenditure Transfers At 31 August 2025 £ £ £ £ £ |
|---|---|
| 25,500 40,639 (22,637) 0 43,502 |
|
| At 1 September 2023 Income Expenditure Transfers At 31 August 2024 £ £ £ £ £ |
|
| 26,790 8,435 (10,380) 655 25,500 |
19
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
19 Analysis of charitable funds (continued)
Restricted funds
| Community Relations Council Department of Foreign Affairs and Trade: Reconciliation Fund (2024-25) Energy Saving Trust International Fund for Ireland 2 (2023/24) International Fund for Ireland 3 2025 International Fund for Ireland Transforming Local Leadership Ireland Funds 2022-23 Ireland Funds 2024-25 The Joseph Rowntree Reform Trust 2024 Joseph Rowntree Conference Grant Votes @ 16 Campaign The Joseph Rowntree Reform Trust 2025 National Lottery National Lottery Awards for All The Rank Foundation 2025 The Rank Foundation 2024 |
At 1 September 2024 Income Expenditure Transfers Balance At 31 August 2025 £ £ £ £ £ - 4,980 (4,980) - - - 16,407 (16,407) - - - 20,000 (17,760) - 2,240 2,333 29,713 (32,046) - - - 66,254 (61,044) - 5,210 - 4,902 (4,902) - - 3,940 - (1,820) - 2,120 - 9,994 (9,994) - - 7,513 11,047 (10,369) (6,776) 1,415 8,216 - (7,492) (724) - - 24,000 (27,318) 7,500 4,182 6,527 - (6,527) - - - 19,450 (9,016) - 10,434 - 20,695 (19,312) - 1,383 10,066 - (10,066) - - 38,595 227,442 (239,053) - 26,984 |
|---|---|
20
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
19 Analysis of charitable funds (continued)
Restricted funds
| International Fund for Ireland (2023/24) International Fund for Ireland Podcast Grant National Lottery The Rank Foundation 2024 The Rank Foundation Bursary Grant DFA 2023/24 The Ireland Funds 2023/24 The Joseph Rowntree Reform Trust 2024 The Joseph Rowntree Reform Trust Conference Grant International Fund for Ireland Fund 1 (Restricted) Department of Foreign Affairs 2020-23 The Ireland Funds (Restricted) 2022-23 |
At 1 September 2023 Income Expenditure Transfers Balance At 31 August 2024 £ £ £ £ £ As restated - 117,751 (115,419) - 2,332 - 9,923 (9,923) - - 14,905 63,333 (71,415) (296) 6,527 - 29,825 (19,759) - 10,066 - 1,000 (1,000) - - - 15,017 (15,017) - - - 14,994 (14,994) - - - 22,095 (14,583) - 7,512 - 10,000 (1,784) - 8,216 449 - (90) (360) - 2,575 - (2,575) - - 3,940 - - - 3,940 21,869 283,938 (266,559) (655) 38,595 |
|---|---|
21
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
20 Analysis of net assets between funds
| Fund balances at 31 August 2025 as represented by: Tangible Fixed Assets Current Assets: Creditors less than 1 year Net assets Fund balances at 31 August 2024 as represented by: Tangible Fixed Assets Current Assets: Creditors less than 1 year Net assets |
Unrestricted Funds Restricted Funds Total Funds 2025 £ £ £ 5,649 0 5,649 41,970 89,042 131,012 (4,117) (62,058) (66,175) |
|---|---|
| 43,502 26,984 70,486 |
|
| 43,502 26,984 Unrestricted Funds Restricted Funds Total Funds 2024 £ £ £ 7,062 0 7,062 36,079 75,622 111,701 (17,641) (37,027) (54,668) |
|
| 25,501 38,595 64,095 |
21 Prior Year Adjustment
The comparative figures for the year ended 31 August 2024 have been restated to correct the recognition of restricted grant income and deferred income at 31 August 2024.
The adjustment arose because restricted grant income due at 31 August 2024 had not previously been recognised as income or as a debtor. In addition, an element of grant income had previously been recognised as income in the year ended 31 August 2024 but related to a future period and should have been recognised as deferred income within creditors.
The prior period adjustment relates entirely to restricted income and restricted funds. There is no impact on unrestricted funds or on cash held at 31 August 2024.
Impact on the Statement of Financial Activities
| Statement of Financial Activities line item | As previously stated |
Adjustment | As restated |
|---|---|---|---|
| Income from charitable activities | 282,867 | 9,373 | 292,240 |
| Total income | 283,000 | 9,373 | 292,373 |
22
Politics in Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2025
21 Prior Year Adjustment (continued)
| Impact on the Statement of Financial Position | |||
|---|---|---|---|
| As | |||
| Statement of Financial Position line item | previously | Adjustment | As restated |
| stated | |||
| Debtors | £nil | 12,135 | 12,135 |
| Creditors: amounts falling due within one year | 58,941 | 2,762 | 61,703 |
| Impact on funds | |||
| As | |||
| Fund balance | previously | Adjustment | As restated |
| stated | |||
| Restricted funds | 29,222 | 9,373 | 38,595 |
| Total charity funds | 54,722 | 9,373 | 64,095 |
As a result of the above adjustments, opening restricted funds at 1 September 2024 have been increased by £9,373. There is no impact on unrestricted funds.
The trustees confirm that the correction does not impact the charity’s compliance with the terms of the funding or its ability to meet its obligations.
22 Taxation
The Company is a registered charity, and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives.
23 Contingencies
A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers have been, or will be, complied with and no liability is expected.
24 Related Parties
There were no related party transactions incurred during the year (2024: Nil).
23