| Page | |
|---|---|
| Trustees’ annual report (incorporating the director's report) | 1 |
| Trustees' responsibilities statement | 8 |
| Independent auditor's report to the members | 9 |
| Statementoffinancial activities (including income and | |
| expenditure account) | 13 |
| Statementoffinancial position | 14 |
| Statement ofcash flows | 15 |
| Notes to the financial statements | 16 |
| Registered charity name | The Social Market Foundation | |
|---|---|---|
| Charity registration number | 1000971 | |
| Companyregistration number | 02537035 | |
| Principaloffice | 3rd Floor | |
| 5-6 St. Matthew Street | ||
| London | ||
| SW1P 2JT | ||
| England | ||
| Registered office | 3rd Floor | |
| 5-6 St. Matthew Street | ||
| London | ||
| SW1P 2JT | ||
| England | ||
| The trustees | BaronessOlly Grender MBE | |
| Caroline Escott | ||
| Melville Rodrigues | ||
| ProfessorTim Bale | ||
| ProfessorWendyThomson CBE | ||
| Rt Hon Dame Margaret Hodge MP | ||
| Rt Hon Sir Robert Buckland MP | (Resigned 7 September2022) | |
| Sir Trevor Phillips OBE | ||
| Tom Ebbutt | ||
| Auditor | Burgess Hodgson LLP | |
| Chartered accountants & statutory | auditor | |
| Camburgh House | ||
| 27 New Dover Road | ||
| Canterbury | ||
| Kent | ||
| CT1 3DN | ||
| Bankers | Royal Bank OfScotland | |
| 28 Cavendish Square | ||
| London | ||
| W1G 0DB |
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 7,611 | 6,137 |
| Current assets | |||
| Debtors | 16 | 259,316 | 164,026 |
| Cash at bank andin hand | 370,788 |
351,503 |
|
| 630,104 |
515,529 |
||
| Creditors: amountsfalling due within oneyear | 17 | 274,732 |
235,985 |
| Net current assets | 355,372 |
279,544 |
|
| Total assets less currentliabilities | 362,983 | 285,681 |
|
| Net assets | 362,983 |
285,681 |
|
| Funds ofthe charity | |||
| Unrestricted funds | 362,983 | 285,681 |
|
| Total charity funds | 20 | 362,983 |
285,681 |
| 2023 | 2023 | 2022 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 5 | 120,326 | 120,326 | 65,627 |
| Charitable activities | 6 | 934,215 | 934,215 | 791,711 |
| Othertrading activities | 7 | 320 | 320 | 267 |
| Total income | 1,054,861 | 1,054,861 | 857,605 |
|
| Expenditure | ||||
| Expenditure on charitable activities | 8,9 | 977,559 | 977,559 | |
| Total expenditure | 977,559 | 977,559 | ||
| Net income and net movementin funds | 77,302 | 77,302 | ||
| Reconciliation offunds | ||||
| Total funds brought forward | 285,681 | 285,681 | 250,535 |
|
| Total funds carried forward | 362,983 | 362,983 | 285,681 |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cashflows from operating activities | ||
| Net income | 77,302 | 35,146 |
| Adjustments for: | ||
| Depreciation oftangible fixed assets | 2,982 | 2,179 |
| Interest payable and similar charges | 190 | 197 |
| Accrued expenses/(income) | 59,585 | (40,265) |
| Changesin: | ||
| Trade and other debtors | (99,165) | 19,036 |
| Trade and other creditors | (16,963) | 128,557 |
| Cash generated from operations | 23,931 | 144,850 |
| Interest paid | (190) | (197) |
| Net cash from operating activities | 23,741 | 144,653 |
| Cashflowsfrom investing activities | ||
| Purchase oftangible assets | (4,456) | (3,355) |
| Net cash usedin investing activities | (4,456) | (3,355) |
| Net increase in cash and cash equivalents | 19,285 | 141,298 |
| Cash and cash equivalents at beginning ofyear | 351,503 |
210,205 |
| Cash and cash equivalents atend ofyear | 370,788 |
351,503 |
| Fixtures andfittings | ~ | 10% straightline |
|---|---|---|
| Computers and equipment | - | 25% straightline |
| Impairmentof fixed assets |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| g | £ | £ | £ | |
| Other donations and legacies | ||||
| Donations | 120,326 |
120,326 |
65,627 | 65,627 |
| Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Conference and event sponsorship | 172,700 | 172,700 | 233,677 | 233,677 |
| Research and project sponsorship | 761,515 |
761,515 |
558,034 | 558,034 |
934,215 |
934,215 |
791,711 |
791,711 |
|
| Othertrading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Publication | 320 | 320 | 267 | 267 |
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 593,763 | 515,871 |
| Social security costs | 60,898 | 50,818 |
| Employer contributions to pension plans | 31,943 | 22,834 |
| 686,604 |
589,523 |
| Fixtures and | ||||
|---|---|---|---|---|
| fittings | Equipment | Total | ||
| £ | £ | |||
| Cost | ||||
| At 1 April 2022 | 12,304 | 21,863 | 34,167 | |
| Additions | 2,508 | 1,948 | 4,456 | |
| At 31 March 2023 | 14,812 | 38,623 | ||
| Depreciation | ||||
| At 1 April 2022 | 12,304 | 28,030 | ||
| Chargeforthe year | 70 | 2,982 | ||
| At 31 March 2023 | 12,374 | 31,012 | ||
| Carrying amount | ||||
| At 31 March 2023 | 2,438 | 7,611 | ||
| At 31 March 2022 | I, | 6,13 NJ |
||
| 16. | Debtors | |||
| 2022 | ||||
| Trade debtors | 78,936 | |||
| Prepayments and accrued income | 85,090 |
|||
| 164,026 |
||||
| 17. | Creditors: amountsfalling due within one year | |||
| 2023 | 2022 | |||
| Trade creditors | 5,643 | 24,555 | ||
| Accruals and deferred income | 167,154 | 141,533 | ||
| Social security and othertaxes | 100,103 | 69,028 | ||
| Othercreditors | 1,832 | |||
| 274,732 |
235,985 |
|||
| 18. | Deferred income | |||
| 2023 | 2022 | |||
| Amount deferred in year | 75,744 | 105,833 |
| Unrestricted funds | ||||||||
|---|---|---|---|---|---|---|---|---|
| At | ||||||||
| At | 31 March | |||||||
| 1 | April 2022 | Income | Expenditure | 2023 | ||||
| £ | £ | £ | £ | |||||
| Generalfunds | 285,681 |
1,054,861 |
(977,559) |
362,983 |
||||
| At | ||||||||
| At | 31 March | |||||||
| 1 | April 2021 | Income | Expenditure | 2022 | ||||
| £ | £ | £ | £ | |||||
| General funds | 250,535 |
857,605 |
(822,459) |
285,681 |
||||
| 21. | Analysis of net assets between funds | |||||||
| Unrestricted | Total Funds | |||||||
| Funds | 2023 | |||||||
| £ | £ | |||||||
| Tangible fixed assets | 7,611 | 7,611 | ||||||
| Current assets | 630,104 | 630,104 | ||||||
| Creditors less than 1 year | (274,732) |
(274,732) |
||||||
| Net assets | 362,983 |
362,983 |
||||||
| Unrestricted | Total Funds | |||||||
| Funds | 2022 | |||||||
| £ | £ | |||||||
| Tangible fixed assets | 6,137 | 6,137 | ||||||
| Current assets | 515,529 | 515,529 | ||||||
| Creditors less than 1 year | (235,985) | (235,985) |
||||||
| Net assets | 285,681 |
285,681 |
||||||
| 22. | Analysis ofchanges in netdebt | |||||||
| At | ||||||||
| At 1 Apr 2022 | Cash flows | 31 | Mar 2023 | |||||
| £ | £ | £ | ||||||
| Cash at bank and in hand | 351,503 |
19,285 | 370,788 |
|||||
| 23. | Operating lease commitments | |||||||
| Thetotal future minimum lease payments | under non-cancellable | operating leases | are | as follows: | ||||
| 2023 | 2022 | |||||||
| £ | £ | |||||||
| Not laterthan 1 year | 50,600 | 17,031 | ||||||
| Later than 1 year and notlater than 5 years | 25,300 | |||||||
| 75,900 | 17,031 |