• •wes 2023/24 ANNUAL REPORT WWW.WES.ORG.UK ## **Contents** |**1. Legal and Administrative Information.**
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**3. Message from the President**
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**7. Our charitable activities**
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**11. Notes to the Financial Statements**
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0eS<—n| |0eS<—n| |**12. Acknowledgments**
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|| ## **1. Reference & Administrative Information** ## **Legal and Administrative Information** The Women's Engineering Society is registered as a charity and is a company limited by guarantee governed by its Memorandum and Articles of Association. |**Charity name**
The Women’s Engineering Society
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1008913
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———| |**Company registration number**
00162096
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SSS| |SSS| |**Registered office and**
Futures Place, Kings Way, Stevenage,
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Hertfordshire, SG1 2UA
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Elizabeth Donnelly
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Moore Kingston Smith LLP, 4 Victoria Square,
St Albans, AL1 3TF
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————| |**Bankers**
Barclays Bank, 21 Hanover Square, London,
W1S 1JW
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————| |**Investment Fund Managers**
CCLA Investment Management Limited, One
Angel Lane, London, EC4R 3AB
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————| |————| |**Employment Solicitors**
WorkNest Limited Woodhouse, Church
Lane, Aldford, Chester, CH3 6JD
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I| **3** ## **Our Trustees** The directors of the Charitable company (the Charity) are its trustees for the purposes of charitable law and, throughout this report, are collectively referred to as the trustees. The trustees who served during the year were as follows: |**Dame Dawn Childs DBE**
**(President)**
stepped down October 23
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——SS| |---| |**Dr Katherine Critchley**
**(President)**
elected October 19 (President October 23)
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re-appointed October 23
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——SSS| |——SSS| |**Aniela Foster-Turner**
appointed March 23
**Professor Elena Gaura**
term ended October 23
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——SS| |**Sarah Haslam MBE**
elected October 22
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elected October 20
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elected October 23
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——SS| |**Dr Tosha Nembhard**
elected October 22
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elected November 21
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re-appointed October 23
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——SSS| |——SSS| |**Laura Shrieves**
elected October 23
**Mamta Singhal MBE**
elected October 21
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——SS| |——SS| |**Emily Spearman**
elected October 21
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I| **4** ## **2. Introduction** In this annual report and financial summary, the Women's Engineering Society, colloquially known as WES, aims to provide, for all our stakeholders, a comprehensive overview of our activities, achievements, and financial performance over the past year. We aim to share with our volunteers, members and partners how funds have been used to impact our primary beneficiaries - women in engineering - and other actors and institutions in the engineering industry. We want to highlight the achievements of our team of employees and volunteers, inspire and encourage continued support from our community, and share our financial story to ensure accountability and build trust. In this document, we also set out our ambitions for the upcoming year, demonstrating our commitment to continued growth and impact. This report is a testament to our dedication to creating an engineering industry that reflects the diversity of the society it serves and our ongoing efforts to make a meaningful difference for women in engineering. **5** ## **3. Messa e from the President g** I am honoured to write my inaugural “message from the President” for our Annual Report and Accounts. **Dr Katherine Critchley** WES President I would like to express my gratitude to my predecessor, Dame Dawn Childs DBE, who has been an inspiration to me and delivered much for WES. During her presidency, Dame Dawn was awarded the title of Dame Commander of the Order of the British Empire (DBE) for her outstanding contributions to professional and charitable achievements in engineering. Thanks to the Royal Academy of Engineering, we were able to host a fitting celebration last October and I am deeply thankful for the legacy she has left: thank you Dame Dawn. I would also like to extend my gratitude to Professor Elena Gaura, who retired from the board this year, for her pioneering work in establishing the Education Cluster, which will continue to support women in engineering academia. Thanks also must go to all current board members and those welcomed onto the board in 2023: Paula McMahon and Laura Shrieves. I am confident that together we can continue our great work, enabling the society to grow and make a significant impact. International Women in Engineering Day (INWED) continues to grow each year, and INWED23 was no different. We enjoyed yet another successful afternoon tea celebration for winners of our annual WE50 awards where yet again I was immensely impressed by the winning engineers, and by the success of the INWED campaign. The entrants for our awards continue to be amazing and inspiring, and our judging teams continued to devote the time and consideration the nominees deserve. I would like to sincerely thank entrants, judges and head judges alike for the effort and interest in making these so special for our engineering community. **6** Networking and continuous professional development opportunities are crucial to the success of our conferences and events. I would like to thank all the WES volunteers, partners, members and employees whose efforts make these events successful. And finally, thanks to the very special volunteers who make up our boards, special interest groups and clusters: these groups make WES what it is and we are enormously grateful. I look forward to working with you all over the next year and seeing how we can create an engineering industry that reflects the diversity of the society it serves. **Dr Katherine Critchley WES President** **7** ## **4. About Us** At the Women’s Engineering Society we are driven by our vision of an engineering industry that employs the diversity of the society it serves. Our mission: to support women in engineering to fulfil their potential and support the engineering industry to be more inclusive. As a charity centred around equity, diversity and inclusion in engineering we pride ourselves on living the values set by our members: to be collaborative, empowered and inclusive. Every employee and volunteer at the Women’s Engineering Society is a custodian of our history, and a contributor to our future. The Women's Engineering Society is a UK-based professional learned society and networking body for women in engineering. Formed on 23 June 1919 after the First World War, in which many women had taken up roles in engineering to replace men involved in military service, it was the first professional body to be set up for women working in all areas of engineering. Having been a volunteerrun organisation for many years since, the Women’s Engineering Society has recently transitioned to volunteer-led professional charitable company ,[1] governed by the President and the Board of Directors of the Company who are also Trustees of the Charity. [2] ## **The Annual Report and Accounts** The reference and administrative information, set out on page 3, forms part of this report. The financial statements comply with current statutory requirements, the Articles of Association, the requirements of a Directors' Report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102 (second edition -October 2019). The Trustees have considered how the Society's activities contribute to the Society's Objects. [1] limited by guarantee, as defined by the Companies Act 2006 and in the event of THE WOMEN’S ENGINEERING SOCIETY being wound up, Members are required to contribute an amount not exceeding £1. [2] According to the Charity’s Articles of Association (amended in 1970, 1991, 2006, 2014 and 2020) **8** ## **5. Our Aims & Objectives** As set out in the Charitable Objects contained in the company’s Memorandum of Association, the Women’s Engineering Society’s purposes are to: - Promote the education of women in engineering sciences and other skills, the better to fit women to the practice of engineering - Advance the education of the public concerning the study and practice of engineering among women - Relieve poverty amongst women who are or have been professional or technician engineers or technologists in allied sciences or educated in science or technology or in the art of techniques of engineering and allied sciences in other disciplines considered by the Directors to be complementary, their dependants and (if they are deceased) their former dependants The aims of the Women’s Engineering Society fully reflect our Charitable Objects and are organised by three stakeholder-focussed priorities to: - Support women in engineering at every stage of their career - Support businesses and institutions to attract and retain women in engineering Shape the engineering debate in society, industry and government ## **The Strategy 2021-2024** After our trustees engaged extensively with the WES community in 2020-21, the Board created a clear Vision, Mission and Values for the charity, and set out three stakeholder aligned focus areas which continued to guide our main activities for the year in 22-23: 1.Our Members (Support women in engineering at every stage of their career): Provision of network opportunities, products and services to support each stage of a career in the engineering industry, particularly (but not exclusively) addressing barriers that disproportionately affect women: skills and career development, raising personal profiles and access to networks **9** 2. Our Partners (Support businesses and institutions to attract and retain women in engineering): Provision of networking opportunities, products and services that support our partners to create great places to work and study that attract and retain the quality and volume of engineering talent needed to enable them to be successful in their business and institutional objectives: skills and career development, raising institutional and corporate profiles and access to networks 3. Our Society (Shape the engineering debate in society, industry and government): Engagement in activities that shape the engineering gender diversity debate to advance the equity of women in engineering Our values set the standard by which we deliver our work and relationships both in our central team and in our volunteer force. We believe that being empowered, collaborative and inclusive enables our employees and volunteers to be custodians of our past and contributors of our future. **10** ## **6. Our Beneficiaries** ## **Our Members** Our primary stakeholders and beneficiaries are our members, who represent a cross-section of the engineering disciplines and related roles in the engineering industry. To support our members in their careers, we work with engineering institutional actors and our ambition for the coming year is to collaborate more closely to deliver even greater impact on congruent goals to benefit women in the industry and the industry itself. |**Membership Type**|**31st**
**Mar 23**|**31st**
**Mar 24**|**variance**| |---|---|---|---| |**Individual Members**|||| |those self-funding, including Students|1,066|1,095|+2.7%| |and Apprentices|||| |**Sponsored Members**|933|965|+3.4%| |those supported by a Partner|||| |**Fellows and Associate Fellows**
those who have shown meritorious
achievements in engineering|81|85|+4.8%| |**Patrons and Honorary Members**
those who are invited to join WES due to
their place in the engineering community
and/or their contribution to engineering.|20|19|-5.1%| Figure 1: Year on Year Trend by Membership Type **11** ## **Our Partners** Our Partners benefit from the impact of our products and services on individual employees enrolled as members, and organisationally through attracting and retaining the quality and volume of talent required to successfully fulfil their business or institutional objectives in the engineering industry. More broadly, through partnership with the Women’s Engineering Society, our Partners benefit from being part of a network of like-minded organisations who can engage as a collective to shape and influence the industry and government on issues that impact the attraction, development and growth of talent from diverse backgrounds creating mutually beneficial outcomes to the engineering skills and talent shortage that will hold us back from delivering our business and societal goals. Our Partners come from across a variety of engineering-related sectors, from which a wealth of experiences and ideas can be gained to support the creation of an engineering industry in which women thrive. Figure 2: Partners by Industry Type Over the last year we have seen an increase in company partners: companies who want to signal to talent that they value the diversity that women bring to their organisation and are serious about making their organisations great places to work for women. More than ever, our partners have supported our engagement events which set them out as leaders to industry and talent on understanding that business results are tied to attracting top talent that brings diversity of thought and resources industry growth. **12** |**Partnership Type**|**31st Mar 23**|**31st Mar 24**|**Variance**| |---|---|---|---| |**Company Partner**|61|78|+40.0%| |**Education Partner**|28|27|-3.5%| |**SME Partner**|14|18|+28.6%| |**Not For Profit**|11|13|18.2%| |**Company Plus Partner**|6|8|20.0%| |**Event Partner**|3|2|-33.0%| |**Start Up**|2|4|100.0%| |**Bespoke Partner**|1|4|300.0%| |**Recruitment Partner**|2|1|-50.0%| Figure 3: Year on Year trend by Partnership Type In some partner segments we have seen numbers fall. We will be working in the coming year to understand the needs and wants of our partners to ensure the Women’s Engineering Society continues to offer Partners the products, services and engagement they most value at a price that offers best value, for all partner segments. _3_ We have been grateful to work in collaboration and with the support of others: our event sponsors, engineering institutions, and other actors in the engineering [4] space. We understand the power of building strong relationships with like-minded peers for the betterment of the engineering industry and the women who work within it, and it is our aspiration for 2024 to continue to lean into collaborative [5] opportunities. Together we can go further. ## [3] See specific sections of this document [4] Including the Royal Academy of Engineering and Engineering UK, and other Professional Engineering Institutions to whom we are indebted [5] Including the Institute for Apprenticeships and Technical Education, the National Association for Women in Construction, the Chartered Institute of Highways and Transportations (with our Tyne and Tees Cluster) the Menai Bridges Museum and Women in Rail (with our Wales Cluster) **13** ## **7. Our charitable activities** The main areas of charitable activity are the provision of mentoring, networking opportunities, professional development opportunities, learning and development, professional profile raising, and campaigning for change. ## **Our Mentoring Platform** MentorSET has this year seen a 40.5% increase in participants (326 total participants), enabling our members to access valuable mentoring services from women engineers outside of their own employer. The provision of quality mentoring has been shown to support professional development and this year we have been indebted to Leonardo who have sponsored the MentorSET platform for a year, making it free for all our members. **The mentorship was transformative for my personal and professional development. My mentor’s an absolute star for doing the work they do on this platform! I was confident with my skills and knowledge as an engineer but really needed support with business strategy and objective setting. My mentor was able to support me with this knowledge gap and I am so grateful for their support.”** ## **Our Events and Awards** Our events and awards offer members and partners benefits and opportunities including, but not limited to, networking with women in engineering through which personal and professional networks can be built, new professional prospects can be researched or sourced, knowledge can be shared, and profiles raised. This is true for both Partners and Members alike. In 2023 the Women’s Engineering Society delivered four flagship events from the central team and supported by volunteers: the Annual Conference, the Apprentice Showcase, the Student Conference, and the Caroline Haslett Lecture **14** ## **National Apprentice Week** In National Apprentice week (February 2024) we welcomed 316 schools and colleges to our online Apprentice Showcase (potential reach of over 10,000 students). Current and past apprentices from our sponsors BAE Systems and JLR were showcased alongside the apprenticeship programmes themselves, giving attendees insight into opportunities in engineering through these much soughtafter industry-leading apprenticeships. ## **Annual Conference** Our Annual Conference 2023 was held over two days at Birmingham’s Millennium Point with over 200 attendees. We are grateful to our keynote speakers Alison Baptiste CBE (“Systems Thinking and its application on the Thames Tideway Tunnel project”) and Dr. Emma Taylor, Visiting Professor in Digital Safety and Security at Cranfield University (“A safety and security toolbox for the future”), aligned to the 2023-2024 theme of “safety and Security”. The remaining programme of events including sessions on cyber, planetary and legal security, and the importance of ethical engineering in the aerospace industry. We are grateful to the headline sponsors Jaguar Land Rover, McLaren Racing and Mercedes AMG High Performance Powertrains without whose support this event would not have been possible. ## **Student Conference** 122 attendees from across the country’s best engineering universities made their way to Leeds for our 15th Annual Student Conference. Focussing on the careers and networking - topics prioritised by our Student Group Board – sessions included presentation skills, CV writing, and continuous professional development and were superbly supported by The Royal Engineers and the Institute of Concrete Technology. Feedback from the day was that the students really valued the networking opportunity to build valuable contacts for their future careers and gain access to forward-thinking and inclusive prospective employers including the headline sponsors AWE, Jaguar Land Rover, and Mercedes AMG High Performance Powertrains, to whom we are very grateful. **15** ## **Regional Clusters** [7] Our regional clusters led fantastic teams of volunteers in 20 regions in the UK to deliver regionally aligned social and professional events that met the needs of their local communities. The Tyne and Tees Cluster continued to support the very active **Durham University** team with bi-weekly events throughout the academic year, which included sessions across engineering disciplines, backgrounds and career stages, as well as hands on career workshops, mindfulness and a therapy dog session. The Tyne and Tees Cluster members also provided invaluable support to the **Durham University Empowering Engineers Symposium.** The Hants and Dorset (South Coast) Cluster delivered a programme of “ **Meet the Cluster” events focussed on the diverse engineering in their area with support from RNLI, Hoare Lea, Caterpillar Marine Power, University of Portsmouth’s CCIXR, Yunex Traffic and Motion Control Products Ltd** , with some great networking and best practice sharing opportunities with organisations developing women in engineering. Our thanks to our very talented and committed Cluster Leads across the UK, to whom we are grateful and indebted. [7] Active clusters are operating in: Berkshire, Bristol, Bath, Gloucs & Somerset, Cumbria and Lancashire, East Anglia (Norfolk, Suffolk & Cambs), Essex, Heart of England, Herts, Beds & Bucks, Kent, London, Manchester, Merseyside & Wirral, Midlands, Northern Ireland, Nottinghamshire, Scotland, South Coast, Surrey & Sussex, Tees & Tyneside, Wales, Yorkshire **16** ## **Awards** In 2023-2024 the Women’s Engineering Society continued to externally celebrate and raise the profiles of exceptional women in engineering through our annual awards: **Women in** _8_ **Engineering top 50 engineers** (WE50), the **Karen Burt Memorial Award** to encourage more women to aim for and celebrate the achievement of Chartered Engineer status and the **Amy Johnson Award** to honour an individual not currently working in engineering or the applied sciences who has made a truly remarkable achievement in furthering diversity in these field. To raise the profile of men providing exceptional allyship in engineering, we again celebrated with our **Men as Allies Award** to honour a male engineer, or professional male working within the engineering, technical and applied sciences sectors, who has gone above the call of duty to support his female colleagues and address gender imbalance. In 2024-2025 the Women’s Engineering Society will launch two new awards: Newly Registered Technician and Newly Incorporated Engineer – to reflect our commitment to all stages of women’s professional registration journey. [8] WE50 2023 winners: Chisom Akujobi, Mary Allan, Caroline B, Sarah Bailey, Niamh Barker, Beth Barnes, Sholeh Behzadpour-Shaw, Marzia Bolpagni, Suzanna Caccavone, Patrizia Carpentieri, Kelly Cary, Clara Cheung, Sarah Clark, Natasha Dunkinson, Jennifer Edwards, Verena Fernandes, Nicolette Formosa, Mariella Gallo, Charlotte Goodwill, Ana Gorgyan, Sally Hall, Amina Hamoud, Laura Hoang, Lauren Jenkins, Svetlana Joao, Emma Johnsén, Laura Joryeff, Eleni Kastrisiou, Susan Khan, Holli Kimble, Eluned Lewis, Salmabanu Luhar, Jennifer Maher, Elena Martin Fernandez, Giulia Marzetti, Jenny McLaughlin, Krishna Mistry, Faith Natukunda, Titilola Oliyide, Stacey Peel, Claire Price, Caroline Roche, Anne Seldon, Nikita Shetti, Nicola Symonds, Joanne Turner, Shiyao Wang, Roshni Wijesekera, Louise Wood, Catherine Wood **17** ## **Our Webinars, Lectures and Podcasts** Our amazing Early Careers Board volunteers continued to deliver their [9] wonderful podcast **“The Women Engineer: Chit-Chats”** aimed at supporting women in the early stages of their professional careers. A beautifully structured topic set across 2023 included: Supporting each other, Imposter Syndrome, Career planning, Applying for Jobs and Wellbeing which, although selected for their pertinence to our members specifically at the early stages of their careers in engineering, were enjoyed by a much wider audience still. > [9] https://open.spotify.com/show/4sSSoeEFyYAML5hByrFokh?si=98be42d33c794661 **18** ## **Our Campaigns** International Women In Engineering Day (INWED) continues to build momentum in its objective to raise awareness of the barriers to women in engineering and to celebrate the successes of signs of progress to gaining gender equity in engineering. Our speakers Dr Gillian Youngs and Eno Essien delivered engaging and informative talks to over 600 live online attendees on the Women’s Engineering Society 2023 theme of “Safety and Security”. ## **2023 Campaign Statistics** - Reach: Over 782 million - Social Media Growth: INWED social media accounts gained over 1,400 new followers and had more than 389,000 impressions - Trending Topic: #INWED23 was the number one trending topic on Twitter in the United Kingdom on 23rd June - Top Tweets From: RNLI, UK Space Agency, Met Office, Royal Navy, Huawei, Williams Racing, GCHQ, Royal Academy of Engineering, Network Rail, RAF, Jessica Ashley (Miss England), Mercedes AMG Petronas F1 Team, McLaren Racing, Iberdrola Renewables, The IET, Professor Dame Angela McLean, Royal Aeronautical Society, Jaguar Land Rover, Jaguar Racing, Dyson, UK Home Office, British Science Association, Qatar Airways, Vice President of Economic Affairs and Digital Transformation Government of Spain - Top Tweet Languages: English, Arabic, Turkish, and Spanish - Events: Over 50 events registered on the INWED website - Engagement: 2,500 individuals made inquiries and downloaded resources from the INWED website - Media Coverage: ‘International Women in Engineering Day’ was reported in over 200 news stories across global media The Women’s Engineering Society is, as always, exceptionally grateful to our INWED sponsors who continue to show their commitment to finding and supporting the best talent through equity, diversity and inclusion to industry, their shareholders and their employees (current and prospective). **19** ## **Lottie Tour** Our Early Careers Board continued to run their campaign to raise the visibility of the diversity of careers in engineering and role model women in engineering to primary school age children through their Lottie Tour. This gained excellent [10] traction during Engineering UK’s “Tomorrow’s Engineers Week” with over 32,000 impressions on LinkedIn and a reach of 433k. With a now plentiful stock of Lottie artefacts, our ambition for 2024 is to ensure that we leverage these in new ways and with greater reach whilst continuing the traditional Tour social media presence. The Lottie Tour sponsors in 2023 were **Frazer Nash** , **Fugro** and **Safran** , to whom we are very grateful. ## **Other Campaigns** Two additional campaigns were in their infancy in 2023: the **PPE project** (to address the issue of availability of PPE designed for women) and the **Accreditation scheme** (to support partners in demonstrating their commitment and maturity in offering an inclusive place to work and study for women in engineering). Both have thus far made slow starts and will be reviewed in our strategy in the coming year to accelerate or pivot their delivery. Led by our Heritage Manager, the Women’s Engineering Society was also successful in securing Ingenious funding from the **Royal Academy of Engineering** for the **“Watts in a Home”** project, which both seeks to celebrate the centenary of the **Electrical Association of Women** and raise the profile of women in engineering through a series of creative workshops. This campaign will be delivered in 2024-2025 by our Heritage Manager in collaboration with external parties and volunteers, to whom we are very grateful. [10] www.tomorrowsengineers.org.uk/ **20** ## **Our Professional Development Opportunities** The Women’s Engineering Society continues to host a job board, the aim of which is to connect hiring companies and institutions to the UK’s largest network of women in engineering, and to connect ambitious and talented women to new roles. In 2023, our job board has seen a small downturn in the number of roles advertised with 534 roles posted against the 562 the previous year. It is our aim this coming year to review the offering in order to improve our platform for talent and role matching. At the Women’s Engineering Society, we understand that there is a significant skills issue for key engineering or engineering-supporting roles pivotal to the achievement of companies’ business objectives and in turn, key societal goals such as healthcare and the climate emergency and it is our ambition to contribute to addressing this. Although the Women’s Engineering Society is now run centrally by a professional operations team, much of our activity is governed and delivered by volunteers, for which the Society is enormously thankful. These volunteering opportunities not only offer purpose to those taking them up, but with volunteer roles on committees and boards, clusters and special interest groups, our active volunteers also gain on-the-job experience in leadership and project management capabilities that may not be currently available to them in their professional roles. Many of our active volunteers have used their experience at the Women’s Engineering Society in professional interviews to secure new and promotional roles. In the coming year, our ambition is to improve the way we advertise our voluntary roles and support the delivery of them in a more structured and rewarding way for our amazing volunteers. Our London Cluster, led by volunteer Laura Luckhurst, launched their Work Shadowing matching service on LinkedIn. The service matched girls (16+) and women students with no previous engineering work experience with companies offering virtual or in-person work shadowing for 1-5 days. This initiative set up placements for girls and women in the London area and will be run again under the new London Cluster lead, Joyce Daser-Adams. **21** ## **Our Community** Our members continue to be kept informed and in touch through both an **electronic newsletter** and our journal **“The Woman Engineer”** , which underwent a revamp in 2023 to ensure it remained current and engaging. Both channels continue to offer a connection across our network for opportunities, information and interest relating to the engineering industry, with a focus on the impact on/effect of women. In 2023 the Women’s Engineering Society began a much-needed overhaul of our [11] website – the gateway for current members and partners and the Society’s shop window. We have continued development plans for 2024-25 to ensure that we can deliver a user-friendly, up-to-date portal that meets the needs of our charity’s stakeholders. Our amazing locally-lead and run clusters again provided support to women in engineering in their regions, enabling them to feel supported, heard and inspired to continue with their great work. Our Tyne and Tees Cluster delivered and supported a wide range of engagement and learning opportunities related to wellbeing, lifelong learning and networking, and continued to celebrate the achievements of women engineers in the Tyne and Tees region past and present. Both centrally at the Women’s Engineering Society and the fantastic work of our Cluster teams, we have continued to deliver content with inclusion in mind: holding hybrid events, making recordings of live events available to ensure activities are accessible to as many people as possible. Our flagship conferences and events provide in-person professional networking opportunities, but our members have fed back that social activities championed in the clusters would be welcomed at the central level too – with opportunities to socialise with peers at the Women’s Engineering Society. In the coming year, we will look to provide more opportunities to both thank and celebrate our volunteers with social gatherings. [11] Women's Engineering Society (wes.org.uk) **22** ## **8. Financial Summar y** Total income for the year increased by 34.7% to £689,012 (2023: £511,549), and total expenditure rose by 12.8% to £544,496 (2023: £482,881), resulting in a net surplus of £144,516. Income increased based on an increase in partnerships and sponsorships indicating that the Women’s Engineering Society continues to be sought out by organisations seeking to support women in engineering by creating inclusive spaces to work and learn. Expenditure increased slightly, reflecting an increase in remuneration for the staff team and increased expenses associated with in-person events to support our partners and members in order to grow our network and fulfil our charitable objects. At the end of 2023, the Chief Executive and Partner team implemented revised Partnership commercials to reflect the operating costs of these more closely, whilst still providing value to our Partners. **23** ## **Principal Funding Sources** Our largest source of funding is from Partnerships (63.0%) and the Women’s Engineering Society is hugely grateful to our amazing community of Partners who show their commitment to gender diversity in engineering through their support. Specific events are generously sponsored by organisations (24.5%) and this means we can provide the type of content and settings for our members to gain the most benefit from the network at in-person events. Individual members who do not get membership through an employer partnership account for 10% of our funding. The remainder of our funding comes from donations, sundry trading income, and bank interest, respectively at 1.1%, 0.1%, and 1.3%. We cannot do what we do without the amazing generosity of our Partners, Members, Sponsors and Donors. In particular, the Women’s Engineering Society would like to thank the very generous sponsorship by the following Partners: - **Amazon** (International Women in Engineering Day Campaign) - **AWE** (Student Conference) - **BAE Systems** (Apprentice Showcase) - **Ball Corporation** (International Women in Engineering Day Campaign) - **Boeing** (International Women in Engineering Day Campaign) - **Cranfield University** (International Women in Engineering Day Campaign) - **Cytiva** (International Women in Engineering Day Campaign) - **Frazer Nash** (Lottie Tour) - **Fugro** (Lottie Tour) - **GCHQ** (International Women in Engineering Day Campaign) - **Institute of Refrigeration** (International Women in Engineering Day Campaign) - **Jaguar Land Rover** (Annual Conference, Student Conference, Apprentice Showcase) - **McLaren Racing** (Annual Conference, International Women in Engineering Day Campaign) **Mercedes AMG High Performance Powertrains** (Annual Conference, Student Conference, International Women in Engineering Day Campaign) - **ONYX** (International Women in Engineering Day Campaign) - **OPITO** (International Women in Engineering Day Campaign) - **Ricardo (MentorSET mentoring platform was made available to all our members free of charge)** - **Royal Academy of Engineering** (International Women in Engineering Day Campaign) **Safran** (Lottie Tour) - **Spectris** (International Women in Engineering Day Campaign) - **The Sterling Choice** (International Women in Engineering Day Campaign) **24** |**Income source**|**22-23**|**23-24**|**% income**|**Variance**| |---|---|---|---|---| |**Partners**|£344,070|£434,251|63.0&|+26.2%| |**Events**|£107,124|£168,910|24.5%|+57.7%| |**Donations**|£8,764|£7,236|1.1%|-17.4%| |**Members**|£42,085|£69,247|10.0%|+64.5%| |**Projects**|£6,500|-|-|-100%| |**Other**|£3,006|£9,368|1.4%|+211.6%| |**TOTAL**|£511,549|£689,012|100%|| Figure 5: Income sources ## **Investment Policy** Aside from retaining a prudent amount in reserves each year the charity also has funds for long term investment including reserves, the Lady Finniston Endowment Fund, and the Karen Burt Restricted Fund, which are currently invested in the CCLA’s Charity Official Investment Fund (COIF). This offers an acceptable level of security for the capital invested and the return reflects the recent increases in current interest rates, averaging 5.07% over the year, compared with an annual average of 2.05% in the previous year. The average Fund yield for the latest quarter was 1.28% p.a. and is expected to continue increasing in line with anticipated Bank of England base rate increases. In the coming year, the Women’s Engineering Society aims to review investment in projects that deliver significant impact for our beneficiaries. **25** ## **Reserves Policy** The Women’s Engineering Society holds reserves that are freely available to fund its general operations income or allow them to take advantage of new opportunities that are not subject to commitments, planned expenditure or other restrictions. Consequently, reserves do not include endowment funds, restricted funds and designated funds. The Women’s Engineering Society policy is to maintain a minimum level of three months’ operating income as reserves with contingency of 10% to cover unforeseen expenditure such as prolonged staff absence or persistent vacancies, which equates to £204,430 (£185,845 operating costs plus 10%), leaving reserves of £238,095 over committed activity, restricted funds and cost of closure. The reserves are needed to meet the working capital requirements of the charity, and the Finance and Audit Committee are confident that with a current level of restricted (£47,519) and unrestricted (£300,529) reserves of £348,048 they would be able to continue the current activities of the charity in the event of a significant drop in funding. Any further monies above this level will be considered in the coming year for use in delivering greater impact to the Women’s Engineering Society’s beneficiaries. ## **Restricted Fund** The Society maintains a restricted fund in the form of the Karen Burt Memorial Award Prize which was received for the purposes of awarding a monetary prize for the best newly chartered female engineer. The monetary prize is made from fund interest and further donations. **26** ## **Endowment fund** The Society maintains an endowment fund in the form of the NEC Lady Finniston Fund Hardship Grants which are awarded to electronic engineering students starting first degree or equivalent courses who have needs over or above the norm. Awards are made from the fund interest. Following a decade of low interest rates, no grant awards have been made from this fund for some years, but it is our ambition in the coming year to review how best to allocate funds to the intended beneficiaries. ## **Gifts in kind** The Institution for Engineering and Technology (IET) continues to provide storage space and house the Women’s Engineering Society archive (on permanent loan to the IET archive), as well as provide the Society’s registered office address, postal services and warehouse storage space at cost. Most significantly, volunteer hours contributed to the Society by our members and volunteers remain the greatest gift to the charity: trustees and members with active governance or project delivery roles contribute highly skilled capabilities at no cost to the charity and without which we would not be able to survive. The Women’s Engineering Society is hugely grateful to all our volunteers, whatever their contribution. **27** ## **Deferred income** A total of £55,901.50 income was received in 2023-24 but deferred to cover expenditure in 2024-2025: |**Income deferred for**|**Deferred income**| |---|---| |**Annual Conference in April 2024**|£29,038| |**International Women in Engineering Day June**
**2024**|£20,130| |**Funding Pot for Activities**|£6,733| |**TOTAL**|£55,901| Figure 6: Deferred income detail ## **Plans for Future Periods** ## **Products and services for our Members and Partners** In the coming year, we aim to reach out to our Members and our Partners to understand their needs from the Society, and to adjust our products and services as required, to better suit their needs. The funding strategy to support these needs will be developed alongside the analysis work, to ensure we understand how we will fund any investments in new or updated products and services. This may include working collaboratively with third parties. ## **The Woman Engineer Journal** Having refreshed our Journal, The Woman Engineer plan to include more engineering content and articles: showcasing innovative projects by our Partners and ground-breaking research by our Academic Partners, in order to create a more engaging and powerful publication for our members, partners, and industry. **28** ## **MentorSET** Mentoring remains a priority ask from our members and the model for gaining corporate sponsorship to our proprietary platform from our Partner, Ricardo, was transformational in enabling the platform to grow. In the coming year, we will seek to continue this model, enabling us to continue to build the capability and deliver impact for our members. ## **PPE for women** Having completed our PPE Survey in 2023, WES plans to review how best to move this campaign forward in an impactful way that uses the resources the society has to best effect. ## **Introduction of a new Bursary Award** The anticipated legacy from Mrs Dianne Winfield will be awarded on the basis of hardship and need to women to further their studies in engineering, and in the coming year, we will structure the award process to ensure the funds are bestowed fairly and in line with her wishes. ## **Shaping the engineering gender diversity debate: campaigns to raise awareness of women in engineering:** - WES plans to continue to build on the success of its proprietary International Women in Engineering Day Campaign, reaching an everincreasing global audience - Working with our Education Special Interest Group, WES plans to review the ask of the PEIs in their registration journey to Chartership, and work with them to ensure the process supports the needs of Academics as well as industry-practising engineers - Working with Engineering UK, WES will contribute to their initiative to review the pathways for girls into engineering to ensure support for increased entry of women into engineering careers - Working with actors in the engineering industry and based on the data published by Engineering UK on the numbers of women in engineering, WES will look to lead a campaign on addressing numbers of women 35+ leaving the profession **29** ## **Structure, Governance and Governing Document** The organisation is a charitable company limited by guarantee, incorporated on 24th December 1919 and registered as a charity on 27th February 1992. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association (amended in 1970, 1991, 2006, 2014 and 2020). In the event of the company being wound up members are required to contribute an amount not exceeding £1. ## **Recruitment and Appointment of the Trustee Board** The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as the Trustees. Under the requirements of the Memorandum and Articles of Association the Trustees are elected to serve for a period of three years after which they must be reelected at the next Annual General Meeting. All Trustees give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in the accounts. Due to the focus of the charity’s work the Trustees as a board seek to ensure that the views of all women at all stages of their career in engineering appropriately reflected through the diversity of the board and the sub-boards. The more traditional business skills are represented on the Trustee Board through co-option of members with a specific skill set, members of the Trustee Board having provided a list of their skills and capabilities. **30** ## **Trustee Induction and Training** Trustees are in the majority, women working or teaching in engineering and are therefore familiar with the charity’s work through their own (and their colleagues) lived experience. Trustees are required to familiarise themselves with a number of documents and training materials ahead of serving on the board: - The obligations of board trustees - The main documents which set out the operational framework for the charity including the Memorandum and Articles - Resourcing and the current financial position as set out in the latest published accounts - Future plans and objectives - Charity Commission publications signposted through the Commission’s guide “the Essential Trustee” as a follow up to these sessions ## **Risk Management** The Trustee Board has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Owning to the recent professionalisation of the Women’s Engineering Society work continues to ensure that formally documented procedures and processes are in place to ensure compliance with policy by staff and (where appropriate) volunteers to ensure a consistent quality of delivery for all operational aspects of the charity. These procedures will be periodically reviewed to ensure that they continue to meet the needs of the charity. **31** ## **Organisational Structure** The Women’s Engineering Society has a Trustee Board of up to 12 members who, during 2023-24, met six times a year. They are responsible for the strategic direction and policy setting of the charity. The Company Secretary also sits on the Board but has no voting rights. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Chief Executive along with her team of eight employees. The Chief Executive is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met and for implementing an efficient and effective operating model including but not limited to ensuring that the employee team continue to develop their skills and ways of working in line with good practice. ## **Related Parties** In so far as it is complimentary to the charity’s objects, the charity is guided by both local and national policy and seeks to work alongside and in collaboration with key industry actors. This will prove invaluable to the charity in establishing improved links within the industry and identifying relevant policy developments and prospective funding. **32** ## **Responsibilities of the Board of Trustees** Company law requires the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Board of Trustees should follow best practice and: - select suitable accounting policies and then apply them consistently - make judgements and estimates that are reasonable and prudent, - observe the methods and principles in the Charities Statement Of Recommended Practice, and - prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis The Board of Trustees is accountable for ensuring that proper accounting records are maintained which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The responsibility for doing this is delegated to the Chief Executive and her team (which may include employees, contractors or third-party service providers under her management). The Board of Trustees is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. **33** ## **Members of the Trustee Board** Members of the Trustee Board, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 4. In accordance with company law, as the company’s directors, we certify that: - so far as we are aware, there is no relevant audit information of which the company’s auditors are unaware; and - as the directors of the company, we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information. Auditors Kingston Moore Smith were re-appointed as the charitable company’s auditors during the year but will be replaced for 2024-25 to ensure impartiality and adherence to best practice. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities. Approved by the Board of Trustees and signed on its behalf by: Dr Katherine Critchley (President) **34** ## **9. Statement of Financial Activities** 14/11/2024 FNSOl rece cerernrrty **35** Women's Engineering Society Year Ended 31 March 2024 stalemenl of Flnanclal Acllvltles Uryestrlcted Funds Restrlcted Funds Endowment Fund Tot 2024 Notes Incorne and endowments from: Donalions and legacies CharilatAe Activities Olher Trading Activrties Inveslmenl Income Total 76,483 603,161 589 8,779 689,012 76,483 603,161 589 8,779 689.012 Expendlture on: Raising funds Charilable aclivilies Transfer Cosl of living bonus Total 109,040 434,456 109.040 435,456 1.000 13 13 1,000 $44,496 Net Incomel(expendllure) Net rnovernent In fund8 145,516 145,516 (1,0fy)) (1,000) 144,516 144,516 Reconclllatlon of funds: Total funds broughl forward Total funds carrled forward 250.4 12.945 34.574 298.009 396,006 11,945 34,574 442,525 Unrestrlcted FundB Restrfcted Fund$ Endowrnent Fund Total 2023 Income and endowments from: Dcnalions and legacies Charilable Aclivilies Other Trading Aclivities Inveslment Income Total Restated 50,849 457.694 Restated 50,849 457,694 3.oc 511,549 3,006 511.549 Expendlture on: Raising funds Transfer Cost of living bonus Charilabbe actiwties Total 88.￿7 2.226 13,826 379,148 484,107 88.9)7 {1.357) {869) 13,826 380.148 482,881 (357) I8￿) Net IncMiel(expendllure) 27,442 357 28,668 Other recognlsed galnsl(losses)'. {Loss) on fixed assels disposal Net rnovernenl In funds (678) 26.764 (6781 27,990 357 869 Reconclllatlon of funds: Total funds brought fcrward Total funds carrled foThvard 13 223,726 250,490 12,588 12.945 33,705 34574 270,019 298,009 13 The charilable COmpan￿S income and expendrture all relales lo C(￿lInuIng operall(￿s. The noles of page 39 to 46 f(Km part of the finanaal slalemenls. 36 Women's Engineering Society Year Ended 31 March 2024 Balance Sheet at 31 ma￿ 2024 Company nurnber: 00162096 Registered Charity No. IIJ08913 31 March 2024 31 March 2023 Notes Flxed asjetj: Tangible assets Total fixed assets 10 6,992 6,992 8.247 6.247 Gurrent aooato Debtors Cash at bank and in hand Total current assels 11 233.164 321.378 554,542 137,916 284,084 422,000 Llabllitl Creditors". Amounts falling due within one year 12 {119.009) 130.238 Nat cUrr￿t assets 435,533 291.762 Net assets 442,525 298,009 Th• fund8 of the Charity: Unrestricted funds Restricted funds Endowrn￿I fund 13 13 396.01 11.945 34.574 250,490 12,945 34,574 Total Chaf ity fund4 13 442,525 298,009 The charitable ccynpany is entitled to exwnpliw from audit under S8cliw 477 of the COYnp￿le5 Acl 2006 for the ￿Par end￿1 31 March 2024. The merntws have not required the company oblain an audit of its financial Statem￿15 for Ihe year ￿ded 31 March 2024 in accordance with s￿lI0n 476 of Ihe Companie5 Act 2006. The trustees acknowledge their reSpon￿lx1Ille8 for: a) ￿Suring thal the tharitable c¢xnpany keeps accounting records trba1 comply with SeCti￿s 386 and 387 of thecompanies kl 2006 and b) preparing financial slalements which give a Irue and fair vieyi of Ihe slale of affairs of the charitable company at the of each financial year and of rts surplus or defictt for each financial year in accordance wilh the requirements of Sections 394 and 395 and bthich othwwise comply with the requirements of Ihe Cornpani8s Acl 2CX)6 relating to finanaal statem￿ls. so far as applicatle lo Ihe charitatle cornpany. The Truste85 Annual Report on page5 3 to 34 and Ihe financial stalwnen15 on pages 35 to 48 were approved and authryised f(x issue by the Board of Trus1ees ..and signed ￿ ther bthalf by: Katherine Critchley Presid￿1 The notes of pages 3910 46 form part of these financial statanenls. 37 Women's Engineering Society Year Ended 31 March 2024 Statement of Cash Flows for the year ended 31 March 2024 2024 2023 Cash flows from opgratlng activltles: Net ir)come for the year as per the Statement of Financial Activities 144,516 27.990 Adjustments for: Depreciation (Increase)Idecrease in debtors Increasel(decrease) in creditors 3.246 (95,248) 11,229 (2.958) (7,028) 32,392 Not cash g•n•rat•d from oyratlng acllvltles 41,285 50,396 Cash flows (us•d In)IgOn•rat￿ from Investlng a¢tlvltle8: Net movements in costs of tanglble fixed assets 3.991 3,486 Net cash us•d In Investlng aGtlvltl8s 3,991 3,486 Change in cash and cash equivalents in the year 37,294 53,882 Cash and cash equivalents at the beginning of the year 284,084 230,202 Cash and cash oqulval•nts at th• •nd of the year 321,378 284,084 38 Women's Engineering Society Year Ended 31 March 2024 Notes to the financial statements 1. Accountlng policles Genoral Infomiatlon The Women's Engineering Society is a Company limited by guarantee, Incorporated in England and Wales. The address of its regislered office and principal place of business is dlsclosed in the Company infwnalion. The financial statements are presented in Steding and this is the functs'onal currency of the Charity. Ba8ls of preparation Thg fingnrig18tatpmpnt8 havA hfip.n Drppare,d in aGGordanGe wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The company is a public benefit entity for the purposes of FRS102 and a registered charity established as a company limited by guarantee and therefore has also prepared ils financial stalements in accordance with the Charities SORP FRS 102 (second edition October 2019) Accounting and Reporting by Charities: Statemenl of Recommended Practice applicable to charities preparlng Iheir accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republlc of Ireland and Ihe Companies Act 2006 and Charities Act 2011. The fi'naneial slatements have been prepared under the historical cost convention. Going ¢onc•rn The Board have assessed whether the use of the going concem basis Is appropriate and have consldered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The Board have made this assessment for a period of at leasl one year from the dale of approval of the flnancial statements. In pariicular the Board have considered Ihe charity's forecasts and impact on income sources. Incom• All income is recognlsed in the Ststement of Financial Activltles once the ch8rity has enllllement to the funds, it is probable that the income will be received and the amount can be measured reliably. Conference and event income, partnership incorne, grants and 18rges single donatlons have been treated as income In the year they have been eamed or deferred to the accountlng period in the year the service will be provided unless agreed by the donors. Exp•ndltur• Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation commilling the charity lo that expenditure, it is probable that a transfer of economic benefits will be required in setuement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where Costs cannot be diredly attributed to parts'cular headings they have been allocated to activities on a basis consistent with th8 use of resources. Fund accounting Unrestricted Funds are considered by ihe Directors as funds coming into the Charity and held in reserves lo provide for the services of the Charity. Restricted funds are considered by the Directors lo be funds that a grar)ted to the Charily with certain addits'onal requirements to provide specific charitable activities. Accounting for restricted activities is maintained separately to unresiricted funds. being reported separately to the commissioning bodies as required under the terms of the grant. Cash and cash equlvalents Cash and cash equivalents are cash and short term highly liquid investments with a short maturity of th￿e months or less from Ihe date of acquisition or opening of the deposit or similar account. Fixed Assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Electronic Equipment 200A of cost 39 Women's Engineering Society Year Ended 31 March 2024 Notes to tho flnanclal statements 1. Accounting pollcles (contlnu•d) VAT The Charity is registered for VAT. Irrecoverable VAT is included in the cost of the item to which it relates. Creditors The Charity seeks to pay all creditors within agreed credit terms. Lea8ed Assets Rental applicable to operating leases, wherè substantially all benefits and risks of ownership remain with the lessor, are charged to the income and expenditure account as incurred. Governance Costs Board expenses, insurances, dinical supervision, HR support and audit fee incurred are reported to comply with constitutional or statutory requirements of the Charity. Financlal Instruments The Charity only enters into basic financial instrument tran5aclions that result in the recognikn'on of financial assets such as trade and other debtors and short term investments (notice period not exceeding 3 months) and financial liabililies such as trade and other creditors. Basic financial instruments are initially recognised at transaction value and then subsequently measured at their settlement value. Judgements In applySng accountlng pollcle8 and key sourc•s of estlmatlon uncertalnty Due to the nature of the charitable companls activities and financial stalements, the Trustees do not consider there to be any signlficant judgements or sources of estimation uncertainty which could influence the reader's understsnding of the financial statements. Pension costs Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. The assets of the pension scheme are held separately from the charity. There were no contributions outstanding as al the year end (2023 - £nil}. 40 Women's Engineering Society Year Ended 31 March 2024 Notes to the flnanclal statements (continued) 2. Donatlons and legacies 2024 Unrestrlcted Funds 2023 Unrestricted Fund3 Donations Membership 7,236 69,247 76.483 8,764 42,085 50,849 3. Charltable actlvitles 2024 un(￿trIcted Funds 2023 Unrostrictod Funds Conference and event income Partnership incorne Menlorset income Stem Returners Income 168,910 434,251 107,124 344,070 4,300 2,200 457,694 603.161 4. Other trading actlvltle8 2024 Unrn8trict•d Funds 2023 Unre8trlcted Funds Sundry trading income 589 589 5. Investment Incom• 2024 Unreslrictod Funds 2023 Unrestrlcted Funds Bank interest received 8.779 8,779 3,006 3,006 41 Women's Engineering Society Year Ended 31 March 2024 Notes to the financial statements {continuedl 6. Ralslng funds 2024 Unrestrlctsd Funds 2023 Unrè$trlcted Funds Nots• Grant Costs Membershlp related o)sts Projecl Costs General Sup￿1 costs Employee costs Travel costs Financ6 costs Governance Costs 22.092 27,632 6.CK)7 75,644 2.702 1,377 1,218 5.914 52,111 1,417 1,340 493 109.040 88,907 7. Charltabl• actlvltl•• To advanc• To rellev• POVOrty •mong•t Promot• th edu¢atSon of oducatlon of th• publlc Support Govwnanc• Co•t• Costs Not•# 2023124 Totsl Event costs Prolecl costs MentorSET costs Awards Promollonal costs General Support costs Employee costs Travel c¥sts Finance costs Regulalory cos18 Dir8elors' EX￿$e8 Independent Examiners Fees 49,543 55,049 6,605 8,605 1,000 1,0 19,841 452 20.293 306,356 29,450 7,939 29.450 479 479 8,285 435,456 8.285 8.737 12.111 50.543 SupFKWt Costs Governance 22.959 34,623 1364,065) ,737 365.763 8,737 35,070 34.623 435,456 Included in 2024 Awwds is £1,0(M) (2023.. £1.iKK)> relating lo restrict•J furnls. 42 Women's Engineering Society Year Ended 31 March 2024 Nots$ to tho finandal statsments (¢ontinwd) 7. Charltablo acti￿118• (Contlnufjd) To r•llo •ducallon ol the odu¢atlon amongst women al th• publlc wom•n Support Cost• Gowrnanco Costs 2022123 Total Event costs Project costs M8nlorSET costs Awards promouoiiui cu¥ General Support costs Employee co$15 Travel costs Finance c0818 Regulatory cost8 Oireclors, Expenses IrKiependent Examin8f8 Fees 15.197 597 50,480 1,776 5,988 2,000 0,040 22,913 265,259 13,207 5,181 492 592 3,420 380,148 1,776 22,546 265,259 13.164 5,181 367 492 592 3.420 21,185 47.302 306.747 4.914 Support Costs Goveman¢e 23.554 267.047 4.214 318.563 16,146 399 16.545 (306.747) 4.914 45.039 380,148 Note 8. Support & Gob•rnance C¢Mts Goveman¢• co$t$ Nol•s Support co 2023124 Total Event cos19 General Support costs Employee costs Travel c081s Finance costs Regulatory costs Dlr8Ctors' Expense8 Independent Examiner Fees 35.610 375,506 32,152 6.070 35,610 375,506 32,152 6,070 1,250 457 8,705 459,750 1.250 457 8.705 9.955 449.795 Raising Funds Charllable Activrtles 85,730 364.065 449,795 1.218 8,737 9.955 86,948 372,802 459,750 43 Women's Engineering Society Year Ended 31 March 2024 Notes to thé flnanclal sta•ffl￿ (continued) Nole 8- Support & Gov0M•￿ Cosls {c¢)nlln Support Go¥•rnance o)sts 2022123 Total Event ￿$ts 597 597 General Supwrt o)sts Employee costs Travel costs 28.460 407 28,867 317,370 14,629 6,521 547 317.370 14.581 6.521 Fin8nce costs Regulatory Costs Directorn, Expenses Independent Examlner Feos 547 605 605 3,800 367.529 5.407 372,936 R81sing Funds Charitable AcUvilie8 60.782 306.747 493 61,275 311.661 4,914 367.529 5.407 372.936 9. Employ•• C￿1• Analy•l• of •taff co•1& T￿$t•• r•mun•ratlon and •xp•n•e• 2024 2023 Wages afKI 5818rn8 Soclal $Kurlty costs Pension costs 339,155 22.140 11.790 8,915 382.000 288,593 15,606 10.315 2.855 317,369 Other costs Tru•leu' Exp•ns There was £67 (2023: £5921 of trustees. expenses rami￿r8ed to four trustees in the >tar ended 31 March 2024. Averago number of •nploy••s by acUvlty CEO 2024 2023 Offi¢e Staff There was ￿ re￿r￿ratiOn paKJ lo trustees in the year ended 31 March 2024. r¥)r the year end￿5 31 March 2023. number of employees whose empknyee benefrts {exCl￿dIng emph)yer pension costs) exceeded £60.rJ)O wd5'. 2024 No. 2023 No. £60.001 - £70.0(xI 44 Women's Engineering Society Year Ended 31 March 2024 Notes to the financial statem•nts (contlnuod) 10. Tanglblo fixed assets Electronlc Equipmont Total Cost At 1 Aprll 2023 Additions Disposals At 31 March 2024 13,837 3.991 13,837 3,991 17.828 17.828 Depreciatlon At 1 April 2023 Charge for the year Depreciation eliminated on disposal At 31 March 2024 7,590 3.246 7,590 3,246 10.836 10.836 Net Book Value At 31 March 2023 At 31 March 2024 6.247 6,992 6,247 6.992 11. Debtorn 2024 2023 Trade debtors Prepayments and accrued Income 169,994 63,170 233,164 121,183 16,733 137,916 12. Cr•dltorn: Amounts falllng du• wlthln one y•ar 2024 2023 Trade creditors Accruals and deferred income Other creditors 9,971 60,202 5,588 84,755 1,856 130,238 119,009 12. Creditors: Amounts falling due within ong year contlnued Deferred Income movement: Deferred income blfwd Utilised in the year Deferred movement increase in the year Deferred income CIf￿￿1 77,712 (77,712) 55,902 55,902 45 Women's Engineering Society Year Ended 31 March 2024 Notes to the financial statements {continued> 13. Movement In funds Balan¢• Movement In resourcos Cost of Livlng bonus Balance 1 April 2023 Income Galnsl losses 31 March 2024 Expendlturg Transfers Unrestricted funds General funds 250,490 689,012 (543,496) 396.006 Restrlcted Funds Karen Burt Memorial Endowm•nt funds N8C - Lady Flnniston 12.945 {1.000) 11,945 34.574 34,574 298,009 689,012 (544,496) 442,525 14. Analysls of net a8s•ts betW￿n fund8 Unr08trlcted Ra8trictod Endowm•nt Funds Funds Funds Total 2024 Total 2023 Flx•d A8set• 6,992 6.992 6,247 Current a88ats Debtors Cash and cash equNalents 233,164 273,859 233,164 321,378 137,916 284,084 12.945 34,574 Current Ilabilities Falling due wthin one year (119,009) (119,009) (130,238) 395.006 12,945 34,574 442,525 298,009 15. Sharo capital The charitable Company is limited by guarantee with each of ts members liable to contribute £1 in the event of its being wound up. 16. Related party transactlons There were no related party transactions in the year ended 31 March 2024 (2023.. none). 17. Control The Board of Trustees are deemed to be the controlling party. 18. Analysls of cash and ¢ash equivalents Total 2024 Total 2023 Cash in hand Total cash and cash equivalents 321.378 321,378 284,084 284,084 46 ## **Acknowledgments** Thanks to donors, partners, volunteers, members and staff, and the organisations and institutions who collaborate with us on our mission. ## **Contact us** ## **Address** Futures Place, Kings Way, Stevenage, Hertfordshire, SG1 2UA **Phone** 01438 765506 **Email** hello@wes.org.uk **Website** https://www.wes.org.uk **47** For the year ending 31st March 2024 The Women’s Engineering Society Charity No. 1008913, Company No. 00162096 WWW.WES.ORG.UK