## **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
- 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:
- adequate accounting records have not been kept, or returns 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 returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- 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