PUBLIC POLICY FORUM NI LIMITED (PIVOTAL) FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2023 Registered Charity No: NIC108659
KAR.EN DRENNAN Independent examinees report to the charity trustees of the Public Policy Forum Nl Ltd Charitable Company I report on the accounts of the company forthe year ended 31 March 2023. Respertive responslbllitles of charity trustees and examiner As the charity trustees land the directors of the company for the purposes of company lawl you are responsible for the preparation of the accounts in accordance wlth rhe requirements of the Companies Act 2006. Having satisfied myself that the charity is not subjett to audit under company law as the charity is a small company charity, it is exempt from audit in accordance with section 477 of the Companies Act 2006, and is eligible for independent examination, it is my responsibility to: examlne the accounts under 5ectlon 65 of the Charltles Acr follow the procedures laid down In the general Directlons given by the Charity Commission for Northern Ireland under settion 651911bl of the Charities Att state whether matters have come to my attentlon. in Basls of independent examinerf5 report I have examined your charity accounts as required under section 65 of the Charities Att and my examination was carried out in accordance with the general Dirertion5 given by the Charity Commi55ion for Northern Ireland under settion 651911bl of the Charities Att. The examination included a review of the accounting records kept by the charlty and a comparison of the accounts presented with those records. It also included consideration of any unusual Iterns or dlsclosures in the accounts and 5eeklng explanatlons from you as charlty trustees concerning any such matters. 07730 J09081 Iiifo (i l<aiendi'ennaiil)ills.coiii
My role 15 to state whether any material matters have come to my attention giving me cause to belleve: l. That accounting records were not kept in accordance with section 386 of the Companies Art 2006 2. That the accounts do not accord with those accounting records provided. 3. That the accounts do not comply wlth the accountlng requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Prartice applicable to charities preparing their accounts In accordance wlth the Flnancial Reportlng Standard applicable In the UK and Republic of Ireland 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examlnerfs statement I have completed my examlnation and have no concern5 in respect of the matters111 to141 listed above and, in connettion with following the Direttlons of the Charity Commlssion for Northern Ireland, I have found no matters that require drawing to your attention. The account5 have been prepared usingthe accrual rnethod. Thls report Is made solely to the charitable company's rnembers, and work ha5 been undertaken tothat I mightstatetothe charitable company's members those matter5 which are required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsiblllty to anyone other than the charitable ompany's members and the charitable company's members as a bodyi for this report, or for the opinions I have formed. eni Karen Drennan Karen Drennan Business Management Servlces Chartered Accountant lol Killinchy Road Comber BT23 SNE 7 June 2023
PUBLIC POLICY FORUM NI LIMITED - PIVOTAL STATEMENT OF FINANCIAL ACTIVITIES AS AT 31 MARCH 2023 Total Funds 2023 Note Unrestricted Restricted Income from: Donations and legacies Other Trading Activities Invcstments 55,000 31,525 55,000 31,525 Total income 86,525 86,525 Expenditure on: Raising Funds Other Trading Activities 95,854 95,S54 Total Expenditure 95,854 95,854 Net (Expenditure)IIncome (9J29) (9,329) Reconciliatlon of funds: Total funds brought forward 68,257 68257 Total funds carried forward 58,928 58,928
PUBLIC POLICY FORUM NI LIMITED - PIVOTAL INCOME AND EXPE_NDITURE ACCOUNT AS AT 31 MARCH 2023 Total 2023 Total 2022 Income Interest and investment income 86,525 111,094 Gross income 86,525 111,094 Expenditure 95,854 115,541 Total expenditure 95,854 115.541 Net ineome {9J29) (4.447)
PUBLIC POLICY FORUM NI LIMITED- PIVOTAL BALANCE SHEET AS AT 31 MARCH 21123 Note 2023 ?022 Fixed a&8ets Tangible gssets Currtht &8ets Other Debtors Cash at bank and in hand 15 7.053 54,064 61,117 8.000 64.306 72,306 Creditors: Amounts fallfing due withln oDe year 16 (2,189) 14.049) Net current asset5 58,928 68,257 C.redilors: Amounts fsilling due 2fter more thn one yr 17 Net assets 58,928 68.?57 Charity FuDds R¢51ricled funds Unrestrlded funds 19 19 58,928 68,257 58,928 68.257 These financial statements have been prepared in aOrdance with th¢ specia] provisions for small Companies under Part 15 of ihe Companies Act 2006. These financial statements on the following pages wer¢ approv¢d by Ihe Trustee5 and authorised for issue on Thistee Thislc¢ The nole5 on The following pages forin part of these finanGial 5tat¢tnents. Company Regislration Number.. Nl 656627
PUBLIC POLICY FORUM NI LIMITED- PIVOTAL STATEMEIYT OF CASH FLOWS AS AT 31 MARCH 2023 Note Total 2023 Total 2022 Cash flow from operating 2ctivitie5 21 (9,329) (4,447) Net cash flow from operatillg activities (9J29) 4,447 Changes in: Trade and other debtors Trade and other creditors 947 (1,860) 8,000 1245 Net cash flow from operating activities 913) (6.755) Cash flow from financing activities Pr()ceeds from bank loan R¢payment of bank loan Net casb flow from finaDcing activities Net decrease in cash and casb equivaI¢nts (10,242) (11202) Cash and cash equivalents at beginning of year 64.306 75,508 cash and cash equivalents at end of year 54,064 64 J06 * Plea* note figures from 2022 have recalculated and updated accordingly.
PUBLIC POLICY FORUM N I LTD NOTES ON THE FINAIYCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICES General Information and ba315 of preparation The Publi¢ Policy Forum Nl Ltd is a charitable company and not havin8 a share capital and is registered in Northern Ireland. The financial statements have been prepared under the histOTical cost convention and in accordance with applicable United Kingdom accounting standards and the Ststernent of R¢¢ommended Practic¢ by the Charity Colnmission for North¢rn Ireland. ststement of Complianee The financial statements have been prepared in compliance with the Accounting and Reporting by Charities: Statement of Recommended Practi¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable n the United Kingdom and Republic of Ireland (FRS 102). the Charities Act (Northem Ireland) 2008, Charities Act (Northern Ireland) 20 li. Charities (AOUnts and reports) Regulations (Northern Ireland) 2015. the Companies Act 2006 and UK Generally Accepted Prnctice. The financial statements are prepared on a going concern basis under the historical cost convention. The financial st2teTnents are prepared ir] sterling which is the functional currency of the charitable company and rounded to the nearest £1. Fund accounting- unrestricted fund5 The charitable company's unrestricted funds consist of a general fund which is expendable at the di5crction of the trustees in furtli¢rdn¢e of the charitabl¢ objects of the organisation. The Irustees may at their discretion designate funds for specific purposes but the designations does not legally restrict the trustees, discretion to apply the funds. Fund aceounting- restricted funds The charitable company's restricted funds eonsist of funds where the donor has imposed restrictions on the use of the fijnds. Income reco£nltion All incoming resources are included in the Statement of Financi81 Activitie& (SOFA) when the charitable company is legally entitled to the income after any pcrformance conditions have been met. the amount can bc m¢asured reliably and it is probable that the income will received. For donations to be recognised the charitsble company will have been notified of the arnoui]ts and thc scttiement dat¢ in writing. If ther¢ are conditions attached to the donation and this requires a level of perfonnance before entitlement can be obtsined then income is deferred until
those conditions are fully met or the fulfilment of those conditions is within the control of the harilable company and it is probable that they will be fulfilled. Voluntary income received by way of donations and gift is credited to revenue on a receivable basis. For legacies. entitlcin¢iit 15 th¢ ¢arlicr of tlic Gharity Lting notificd of an impcnding distribution or the legacy being received. At this point income is recoEnised. On occasion lesacies will be notified to the charitable company however it is not possible to measure the amount expected to bc distribut¢d. On thcsc occasions. thc Icgacy is treat¢d as contingent asset and discloscd. The charitabl¢ company has received a grant from the Infrrnational Public Policy Observatory to further its charitable activities. Income from Erants are recoEnised at fair valu¢ when the charitable company has entitlement after any performance conditions have be¢n met, it is probable that the income will be Teceived, and the amount can be measured reliably. If entitIement 15 not met, then these amounts are deferred. Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period. Grnnts which contribute towards specific expenditure on fixed assets are credit¢d to the Statement of Financial Activities in full upon receipt. Aeerned In¢ome Income from certain events has been accrued os the concerned event o¢¢urred before the year end. Value Added Tax The charitable company is not registered for V AT purposed: therefore. expenditure is shown gross of VAT. Expendlture Recognitlon All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure 15 recognised where there is a legai OT Constructive obligation to make payments to third parties. it is probable that the settlement will be required. and the amount of the obligation can be measured reliably. It is ¢ategorised under the following headings: C05ts of raising funds compriscs of dircct COSts' and Expenditure on charitablc activities compris¢s those costs incurred by thc charitablc company in the delivery of its activities and services for ils beneficiarie5 and include5 direct cost5 for example, salary costs, consultancy cosls, travel and subsi5t¢n¢e and an apportionment of 5UPPOrt costs
Support costs allocation Support costs are those that 2SSiSt the work of the charitable coinpany but do not directly represent charitable activities and include offic¢ G05ty governance costs and admintstrative payroll costs. They are incurred direthly in support of expenditure on the objectives of the Charitable ¢ompany. Where support costs cannot be directly attributed to headings, they have been allocated to cost of rdising funds and expenditure on charitable activities on a basis consistent with use of the resources. The analysis of these costs Is included in note 7. Taxation As a charitable company, the company benefits from various exemptions afforded by tax legislation. It is therefore not liable to ¢orporation lax on income or gains falling due within those exemptions. Recovery is made of tax dediicted from receipts under gift aid. Colng Concern The fmancial statement has been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of tunds held and expected level of Income and expenditure is sulricient with the level of reserves for the ¢haritable coinpany to be able to continue as a going concern. 2. Status The company is a company limited by guarantee. The company is accepted as a charity by H M Revenue & Customs within the definition of Section 506(1) of the Incorne and Corpordtion Taxes Act 1998. The company has been registered by the Charity Commission fDr Northern Ireland since March 2022 (charity number NIC108659).
PUBLIC POLICY FORUM IYI LIMITED - PIVOTAL NOTES TO THE FINANCIAL STATEMENTS (Conlinued) AS AT 31 MARCH 2023 Income from donations and legacies Unrestricted Funds Restricted Funds Total Funds 2023 Total Funds 2022 Programme Sponsorship Fundraising & Donations Other income 15,000 32,000 8,000 15,000 32,000 8,000 69,594 69,594 4. Income from Other Trading Activities Unrestrficted Funds Restrlcted Funds Total Funds 2023 Total Funds 2022 Equality Commission Nl The Executive Office Lin¢n Quarter BID The Dcpartment of Education Belfast Chamber of Comm¢rce Training & Other incomc 29,750 29,750 25.000 10,000 3,000 3.500 300 300 1,475 31.525 1,475 31,525 41,500 Ineoxne from investments 2023 2022 Interest
PUBLIC POLICY FORUM NI LIMITED- PIVOTAL NOT TO THE FINANCIAL STATEMENTS AS AT31 MARCH 2023 Anily¥is olexpendlture AL*ivjij undertakert dir¢cUy Crnnt fuiidin 8uppon cost5 TDthI 2023 iiesearch & PublitLtions Communieotion & EngoB¢meni CoveTn8nce & Administration Fundtaisin8 53,43? 15.075 7,097 7.097 1.703 856 ]29 322 3.?03 7,419 9.5,&4A Anhlysis oftxpendlture Ac(ivtlj¢S undertaken directly Gr1 lundin8 Support eo5t5 2022 Con5uiiancy Fe Rc5ur¢h & Publi¢oiions Cornmunitraiion & Fngtsgemeni GovcTnance & Adininiratioll Fundraising 4.325 4J25 65J06 2&149 8fi1 &880 984 535 189 188 1.896 27.614 8.697 8.69• 113.645 Allocaoll of support costs Raising fijnds Charitable uctivity 2023 Govemonee & Admini$tsytion Finance D¢prcciation 600 99 6011 699 699 Allotailott of supporr tosty Raibing funds Chariwble Total 2022 vernance 600 91J 915 DeprtEiatlDn 698 698 CovtrllaDce to3ts 2023 2022 Independcnt Examiners CThts TTUSte&4 remiinernhon Tn]Slc¢ pQnSeS Lwul and prof¢ssional fe¢¥ h¢r 600 600 28 1.103 600
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PIIBLIC POLICY FORllh.l NI LIlITED- PIVOTAL NOTLS TO THE FINANCIAL STATEMENTS fcolltimied) AS AT 31 MARCH 2023 10. Net illcTrme f(Jr the yellr This IS staled aftcr ¢hArging'.- 2023 2022 IndEpendenl Examin¢TS Fee DepFeci4ti(>n of fixcd as%LL% Op¢ralLng le&4e puyznetkls 61JO I l. Inijependent Examlner's remuneration The independent examirt¢es Temuneration amounts tts £600 and other services of 12. Trustees and key m8DageMcnt perSOne1 remuneration expeDKs The Trust5 ll¢ithcr r¢ceived norwaivcd any rcmuncrdtion during die ycor. Travel expen5e5 of L?8.14 paid duriiig ihe sear_ The iotol amount ot empl¢ benefits rccciv¢d by key m#nagcment personnel is £41.715. 13. Staiftost5 And employee be¢efJts The av¢Tag¢ number ofemployec& emplos'ed by th¢ company dllrittgthe period April 2022_ Mch 2023 as 2. 2023 Number 2022 Number RJising funds Charitablc aetivities Govemance The toral 51aff Costs and emplosee benetits incurred during the year w&5 us fOll¥s.. 2023 2022 WugG3 and sa]ari¢3 Sociol wcurity costs D¢fin¢d contribution pension ¥osts 62,538 2,144 90,817 9,079 104.823 70.936 No employee received total employce IKnefits (exeludillgemploy¢r nSIOn co$151 of rn0 Ihan £60.000 during ih p¢riod April 2022- Maroh 2023. 2023 2022 Allo¢al¢dio.' Raising funds C'harilablc activity 7U.936 70.936 56.229
PIIBI.IC. POI.ICY FOREI1 Nl LlhllTED- PIVOTAL NO'fLs TO'fHE FINANCIAL ATEmE[S {ConlinMed) AS AT31 fvIARLH 2023 14. T#x#lio The charitable compsn>' is a r¢gi5tcred chority and os sueh, is entitled to certain thx exemptions on income and profits from Inve%imLnts and gUTpluses on any Lrlldlnu £lLt1vjll LJrriLd UUL Iti tlie furtJiLrdi] ufili¢ aitLrtiabl¢ 1}pIlY s prti11£ Obje1¥. if ihese profits a[ surpluses are applied sol¢lJ for charithble purposes. Th¢ ¢liariZy is Dot re8i5ter&J for VAT and accordillgly. all th¢ir CXpdItUtl. is inclusiv¢ ofvAT incurtd. 15. Debtors 2023 2022 Prepayments and accrued incoTne Amounts uived by reiat¢d party 7.053 8.oorj 7.053 8,000 16. C.reditnrs: mOUnts fallinR due withitt y¢g1' 2023 21122 Bonk Ic¥ans #nd overdrnlls Other t2x and soci81 se¥urity Other ereditor4 Amounts Ved to related party Accnjals Dctcrred itJ¥om¢ 633 3A16 2,189 2.189 4.049 17. C.reditOT5:.amounts f*lliDki dut after morc than oll¢ y¢ar 2023 2122 B¥nk Ii)ans and ov¥rdrafts 18. Penshoms Th¢ cotHpan)' ()pcrates a monrj, purcha5¢ pensioft sch¢in¢ for iLs cmploJ'c¢s. Ttie assets ordi¢ 5rh¢mc hLld s¢para(¢ly fro those of the company in on independently adrnlnisred fund. M)e pension cosl%' ¢liarge repTesenLs contributions payable by the compnny to the tund and amounted to £8.755 {2021-2022 £12,710) The amount of pension Costs acLnJed at the year end amounted 10 £2189 (2n21-2022- £2140). 19. An#ly5is of net assets b¢tw¢¢rt funds Tangible Net Guntnt assets Long tcrni assets 2023 Unresirieted Rcstricl¢d 58.928 58.928 Total 58.928 58.928
PUBLIC POLICI, FORUM NI LI,%IITED- PIVOTAL NOTES TO THE FINAP4fiAL sfATEMENT.S (CttRlin¥edJ AS AT31 NIARCH 2013 20. Fund reronciltalions Unrt5trlcitd fund5 Blllance ol 31-Mar BlllAn¢¢ t 31 MfjY¢h 2023 In¢¥m¢ ExFndiiu Tran$f¢rs Geft Desi8noted 68.257 86525 195.8541 S8918 86.52) 9),854 UHr¢5triLl fund¥ LOll¥iSLof funds whi¢h &r¥' lp#illbI¢0ith¥ dis¢reiion orth¢ LTharity in funhernn¢L ofits0bj¢di$. In gddition to expenditureon Aotivitiegsuch fvndgmavhe held in nrdertnfinJnÈe capithl invesknent fjnd WOTking cgpital. 21. RteoA¢lllatlon of Thet intome to het cAih flow. from OPErJting gc¢lvltle% 2(b23 2022 Nei ineome for Ihe yeGr 9J29 4.447 D¢pJuiaiion ond impaimi¢nt vl"mnwblc fixcd a55¢1S Intert%% trom in%tstmenL% Inffta5e in debtors Increase in creditor5 947 11,8601 Net cash now from yraiinB acLi%iti¢s JO342 11302 22. ntI#l tommilrnents No eonlru¢ts hud boon plGc¢d fi>r future ¢apilol expenditure Atth¢ balance sheet dgte. 23. CONTINCENT LI,IBJLITJES company ha$ L eonbn6ent Iisbilityto repoywnts received if the compjnv hil$ to eompl51 Wlth certsin conditithn$ 5tipuilld in the l¢¢leT5 af otyer LLndcr ivhich the grartis ire paid. The direciors do not ¢1CLanY ¢laim5 tD be made in this respECt_ 24. COMPANY LIMITED BY GUARANT£i The Public Policy Foruin Nl Lid is d ¢ompany limiied bygullrnnt¢e having nts Share tapital. It is gov¢med by Memorandum nnd Artides of Axsociotion And the liobility of the memb& ]% IiTnited lo Mn llmr*unt rtot exc(¥4ing£l. Is. rrHlC.AJ.NfjARrJq ITr common willi many othcr Orbanili0nS of our siz¢and lltsiur4 w¢uscollr ind¢pendent cAamincrio prep8re and SiS1 wilh the preparation gf th¥ finLIa1 Stsiirnviii5.
PUBLIC POLICY FORLM NI LIMITED- PIVOTAL DETAILED INCOME AND EXPENDITURE ACCOUNT AS AT 31 MARCH 2023 2023 2022 IIYCOME GRANTS DcpartTncnt of Foreign Affairs International Public Policy Observatory 15.000 54,594 15.000 15,000 69,594 OTHER INCOME Researcli Income Other Income Donations Gift Aid 30.050 1,475 32,000 8,000 41,500 71.525 41500 TOTAL INCOME 86.S25 111,094 EXPENDITURE Central Costs Salarie5 and NIC Pension Contributions Staff travel and subsistence Staff training and conferences Administration and office costs (Note I Selection and Recruitrnent Costs 64,682 6254 318 96,744 9,079 162 2,885 1,209 1,732 75048 107,717 Communication & En, Research & Publications Communications & Engagement Desis)n & Print cnt 14.045 5,265 1,196 4,325 3,499 20,506 7,824 TOTAL EXPENDITURE 95,854 115,541 TOTAL INCOME (Page xx) 86.525 111,094 SURPLUS FOR THE YEAR 9J29 447
PUBLIC POLICY FORUM NI LIMITED - PIVOTAL DETAILED INCOME AND EXPENDITURE ACCOUNT (Conlinued) AS AT 31 MARCH 2023 Note I 2023 2022 ADMINISTRATION AND OFFICE COSTS Telephone. computer & IT costs Printin& stationery and postage Insurance Payroll Fees Independent Examiners Fee Professional & Legal Fees Membership & Subscriptions Bank charges 328 156 50 579 177 600 772 309 600 475 293 99 73 97 TOTAL ADMINISTRATION AND OFFICE COSTS 2,885 1,732