2023-03-31-accounts - Eiris Foundation

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REGISTERED COMPANY NUMBER:	02460330
CHARITY REGISTRATION NUMBER:	1020068
COUNCIL OF MANAGEMENT:	Nina Roth (Chair)
	David Bent-Hazelwood
	Aine Clarke
	Ivana Gazibara
	Aaron Hay
	Richard Howitt
	Rebecca Kong
	Camilla Parke
	Vaidehee Sachdev
	Frances Way
CHIEF EXECUTIVE OFFICER:	Peter Webster
COMPANY SECRETARY:	Lisa Stonestreet
REGISTERED AND PRINCIPAL OFFICE:	The Foundry
	17-19Ova I Way
	London
	SE115RR
AUDITORS:	Cocke, Vellacott	8 Hill
	Chartered Accountants
	Unit 28 City Business Centre
	Lower Road
	LONDON SE162XB
BANKERS:	Unity Trust Bank
	9 Brindley Place
	4 Oozells Square
	BIRMINGHAM B12HB
SOLICITORS:	Bates, Wells 5 Braithwaite
	10Queen St Place
	LONDON
	EC4R 1BE
IMPACT INVESTING ADVISERS:	Sonnet Advisory	and Impact
	45 Flitwick Road
	Ampthill
	Bedfordshire
	MK45 2NS

			Unrestricted	Restricted	2023	2022
		Notes		f		E
Income
Donations		3 (a)
Income from charitable activities
Contractual research work		3 (b)	300,960	60,250	361,210	239,704
Investmentincome
Bank and building society	interest receivable		10,602		10,602	1,954
Other income			30,758		30,758
Total income			342,320	60,250	402,570	241,658
Expenditure
Costs ofraising funds
Costs of raising donations	and grants		(67,186)		(67,186)	(10,458)
Expenditure on charitable	activities
Grants payable
Costs ofactivities —research, publications,
information, provision ofseminars			(600,772)	(60,250)	(661,022)	(462,058)
Total expenditure			(667,958)	(60,250)	(728,208)	(472,516)
Net income/ (expenditure)	before gains and losses
on investments			(325,638)		(325,638)	(230,858)
Net gains/ (losses) on investments
Loss on revaluation ofinvestments		12	(25,002)		(25,002)	(9,768)
Gain on sale ofinvestments		12
Net income/ (expenditure)	for the year		(350,640)		(350,640)	(240,626)
Net movements in funds and			(350,640)		(350,640)	(240,626)
net income/ (expenditure) for the year
Reconciliation of Funds
Total funds brought forward		18	1,841,614		1,841,614	2,082,240
Total funds carried forward		18	1,490,974		1,490,974	1,841,614

			Group	Group	Charity	Charity
			2023	2022	2023	2022
		Notes	E		E
Fixed assets
Intangible assets		10	539	12,123
Tangible assets		11	5,851	2,289	4,355	282
Investments		12	965,230	490,232	1,027,461	552,463
Total fixed assets			971,620	504,644	1,031,816	552,745
Current assets
Debtors		14	133,778	125,388	93,593	113,590
Cash at bank and in	hand		548,2&&	1,338,154	529,991	1,318,213
Total current assets			682,066	1,463,542	623,584	1,431,803
Liabilities
Creditors: Amounts within one year	falling due	15	(152,584)	(121,465)	(93,730)	(85,332)
Net current assets (liabilities)			529,482	1,342,077	529,854	1,346,471
Total assets less current liabilities			1,501,102	1,846,721	1,561,670	1,899,216
Provision for other	liabilities		(10,128)	(5,107)	(10,128)	(5,107)
Net assets			1,490,974	1,841,614	1,551,542	1,894,109
The funds ofthe charity
Restricted income funds		18
Unrestricted income funds		18	1,490,974	1,841,614	1,551,542	1,894,109
Total charity funds		18	1,490,974	1,841,614	1,551,542	1,894,109

					Notes	Group	Group	Charity	Charity
						2023	2022	2023	2022
						f	E	E
Cash flows from operating	activities
Net income (expenditure)	for the year					(350,640)	(240,626)	(342,567)	(232,101)
Adjustments for:
Interest received						(10,602)	(1,954)	(10,602)	(1,954)
Amortisation ofintangible	assets				10	11,584	11,584
Depreciation oftangible assets					11	3,092	1,035	2,459	1,035
Net losses on investments					13	25,002	9,768	25,002	9,768
(Decrease) Increase in provision			for other	liabilities	16	5,021	(4,806)	5,021	(4,806)
(Increase) decrease in debtors					14	(8,390)	(85,625)	19,997	(84,774)
(Decrease) increase in creditors					15	31,119	(16,431)	8,398	(24,552)
Net cash (outflow) inflow	from	operating		activities		(293,814)	(327,055)	(292,292)	(337,384)
Cash flow from investing activities
Purchases ofintangible assets					10
Purchase offixed asset equipment					11	(6,654)	(2,007)	(6,532)
Purchases ofinvestments					13	(500,000)	(500,000)	(500,000)	(500,000)
Interest received						10,602	1,954	10,602	1,954
Net cash provided by investing		activities				(496,052)	(500,053)	(495,930)	(498,046)
Net (decrease) increase in	cash	and cash		equivalents		(788,866)	(827,108)	(788,222)	(835,430)
Cash and cash equivalents	at the		beginning	ofthe	period	1,338,154	2,165,262	1,318,213	2,153,643
Cash and cash equivalents	at end ofperiod					548,288	1,338,154	529,991	1,31S,213

					Total	Total
			Unrestricted f	Restricted f	2023	2022f
CHRB Human	Rights Project		222,861		222,863	111,657
Social Influence		Map		60,250	60,250
Subsidiaries	projects		78,099		78,099	68,672
BHHRC						20,000
Consultancy						39,375
Total			300,960	60,250	361,210	239,704

		2023 f	2022f
Costs of raising grants and donations
Staff costs	(see note 8)	27,472	4,542
Governance	costs (see note 6)	3,504	404
Support costs (see note 6)		36,210	5,512
Total		67,186	10,458

			Grants	Research
			payablef	projectsf	Total f	2022f
Grants (see note below)
Projects and	seminars			107,037	107,037	56,470
Staff costs (see note 8)				283,606	283,606	226,946
Website and	ITcosts			23,876	23,876	1,992
Subscriptions	to publications	and services		9,389	9,389	7,255
Business travel				10,173	10,173
Governance	costs (see note 6)			63,641	63,641	33,376
Support costs (see note 6)				163,300	163,300	136,019
Total				661,022	661,022	462,058

ANALYSIS OF	SUPPORT AND G	OVERNANCE COSTS
			Other	Governance	2023	2022
			support f	related	Total f	Totalf
Staff costs (see note 8)			94,995	39,829	134,824	81,594
Legal and professional			31,310	13,390	44,700	34,592
Audit fees				4,920	4,920	5,292
Committee expenses				480	480	395
Meeting room and office rent		and service charges	21,514	2,293	23,807	11,928
Website and	ITcosts		12,852	2,250	15,102	14,476
Insurance			6,024	225	6,249	3,678
Bank charges			425	39	464	335
Memberships			3,002	143	3,145	2,332
Training and	other staff expenses		10,896	1,462	12,358	7,566
Subscriptions	to publications	and services	948	129	1,077	449
Sundry expenses			4,553	300	4,853	55
Amortisation	ofgoodwill		10,194	1,390	11,584	11,584
Depreciation			2,797	295	3,092	1,035
Total			199,510	67,145	266,655	175,311

7.	NET INCOME (EXPENDI	TURE)
			2023	2022
			f
	This is stated after charging the following:
	Staff costs (see note 8)		313,082	313,082
	Auditors' remuneration	(inc. VAT)
	Audit fees		4,920	5,292
	Accountancy and general advice		5,040	5,280
	Tax advisory services		300	300
	Operating lease rentals		13,177	9,337
	Depreciation		3,092	1,035
8.	DIRECTORS AND EMPLOYEES
			2023	2022
			f
	Salaries and wages		372,974	260,114
	Social security costs		37,309	28,234
	Pension costs		35,619	24,734
			445,902	313,082

				2023	2022
				E	E
Costs of raising funds (note 4)
Staff costs				27,472	4,542
Governance	(note 6)			2,463	546
Support costs (note 6)				5,876	2,058
Expenditure	on charitable	activities	(note 5)
Staff costs				283,606	226,946
Other support costs (note		6)		89,119	69,686
Governance	(note 6)			37,366	20,304
				445,902	3l3,082
The average	number ofemployees		during the year was:	No.	No.
Administration
Research 5Project work
				10

The group
		Goodwill	Total
			E
Cost at 1April 2022		34,751	34,751
Additions during the year
Cost at31March 2023		34,751	34,751
Accumulated amortisation	at 1April 2022	22,628	22,628
Amortisation for the year		11,584	11,584
Amortisation at 31March	2023	34,212	34,212
Net book amount at 31March 2023		539	539
Net book value at31March	2022	12.123	12.123

TANGIBLE FIXEDASSETS
			Group	Charity
			Office		Office
		~eui	ment	~eui	ment
Cost at April 2022			5,254		3,247
Additions during the year			6,654		6,532
Cost at 31March 2023		11,908			9,779
Accumulated depreciation	at1April 2022		2,965		2,965
Charge for the year			3,092		2,459
Depreciation at 31March	2023		6,057		5,424
Net book amount at 31March 2023			5,851		4,355
Net book va/ue at31March 2022			2,289		282

FIXEDASSET INVESTMENTS
The Group
	Other	2023	2022
	Investments	Total	Total
	E	E
At market value 1April	490,232	490,232
Additions	500,000	500,000	500,000
Disposals
Net gain/(loss) on revaluation	(25,002)	(25,002)	(9,768)
Market value at 31March	965,230	965,230	490,232

FIXEDASSET INVESTMENTS
The Charity
	Other	Investment	in	2023	2022
	Investments	subsidiaries		Total	Total
	f		E	E
At cost at 1April		62,231		62,231	62,231
At market value 1April	490,232			490,232
Additions at cost	500,000			500,000	500,000
Disposals
Net gain/(loss) on revaluation	(25,002)			(25,002)	(9,768)
Cost at 31March		62,231		62,231	62,231
Market value at31March	965,230			965,230	490,232
Total investments	965,230	62,231		1,027,461	522,463

DEBTORS
		Group	Group	Charity	Charity
		2023 f	2022f	2023	2022f
Trade debtors		77,658	50,994	40,204	41,263
Other debtors		3,291	3,041	3,291	3,041
Prepayments	and accrued income	52,829	71,353	50,098	69,286
		133,778	125,388	93,593	113,950

15.	CREDITORS: Amounts	falling due
	within one year

within o	ne year
							Group	Group	Charity	Charity
							2023	2022 f	2023 f	2022f
Trade creditors							13,938	2,708	4,708	2,134
Taxation	and social security				costs		381	817
Other creditors							16,900	16,741	15,983	15,220
Accruals	and deferred		income				121,365	101,199	73,039	67,978
							152,584	121,465	93,730	85,332
Deferred	income
Deferred	income	included		above comprises		income received	in advance ofthe period of		commitment.
							Group	Group	Charity	Charity
							2023 f	2022 f	2023 f	2022f
Balance	as at 1April 2022						22,698	22,984
Amount	released	to income			from charitable	activities	(22,698)	(22,984)
Amount	deferred	in year					44,282	22,698
Balance	as at 31	March	2023				44,282	22,698

The Gro	up	and Charitable Company
			Leave pay
			provisionf
Provision		at 1April 2022	5,107
Additions			10,128
Utilised	in	the year	(5,107)
Provision		at 31March 2023	5,107

Analysis of	Group fund movements
		Balance	Income/	Expenditure/	Balance
		b/fwdf	(Gains) f	(losses) f	c/fwd f
Unrestricted	funds
General income fund		1,841,614	342,320	(692,960)	1,490,974
Restricted funds			60,250	(60,250)
Total funds		1,841,614	402,570	(753,210)	1,490,974
Analysis of	Charity fund movements
		Balance	Income/	Expenditure/	Balance
		b/fwdf	(Gains) f	(losses) f	c/fwd f
Unrestricted	funds
General income fund		1,894,109	264,221	(606,788)	1,551,542
Restricted funds			60,250	60,250
Total funds		1,894,109	324,471	(667,038)	1,551,542

ANALYSIS OF NET ASSETS BETW	EEN F	UNDS
		Group	Group	Total	Charity Charity		Total
		General	Restricted	Group	General Restricted		Charity
		funds	funds	funds	funds funds		funds
		f	f		f	f	f
Intangible assets		539		539
Fixed assets		5,851		5,851	4,355		4,355
Fixed asset investments		965,230		965,230	1,027,461		1,027,461
Cash at bank and in hand		548,288		548,288	529,991		529,991
Other current assets		133,778		133,778	93,593		93,593
Creditors ofless than one year		(152,584)		(152,5&4)	(93,730)		(93,730)
Provisions for liabilities		(10,128)		(10,128)	(10,128)		(10,128)
Total		1,490,974		1,490,974	1,551,542		1,551,542
FINANCIAL COMMITMENTS
Operating leases
The company had the following	future	minimum	lease payments	under non	—cancellable operating	leases	for each o
the following years:
					2023		2022
Payments due:						f	f
Land and buildings:-
Not later than one year					27,633		11,204
Later than one year and not later	than	five years			105,926		33,612
Total					133,559		44,816

DETAILS OF CONS	OLIDATED SUBSIDIARIES
		Country of		Details of	Yo
Name ofcorn an		~incor	oration	investment	held
Ethical Investment	Research Services
(EIRIS) USA			USA	Membership	100ol
EIRIS Conflict Risk	Network		USA	Membership	100/0

The aggre	gate amo	unt ofcapital and reserves at the year end a	nd profit or loss for the year for EIRIS	USA is as follow
			2023	2022
			E	E
Aggregate	amount	ofcapital and reserves	(1,123)	(2,388)
Profit / (loss) for the year			3,511	(3,OS7)

2023	2022
f	E

Aggregate amount ofcapital and reserves
Profit / (loss) for the year