|Reports||||||
|---|---|---|---|---|---|
|Reference||and administrative||details||
|Trustees'|report|||||
|Independent||auditor's|report||12|
##
|Accounts|||
|---|---|---|
|Statement
offinancial|activities|16|
|Balance sheet||17|
|Statement
ofcash flows||18|
|Principal
accounting|policies|19|
|Notes to the accounts||22|
|||||Patron|Her Late Majesty,|The|Queen|||
|---|---|---|---|---|---|---|---|---|---|
||||Trustees||Andrew
Whelan -|Chair||||
||||||Irene Gray|||||
||||||Neil Churchill|||||
||||||Lise Pape|||||
||||||Jonathan
Steel|||||
||||||Michael
Dumigan|||||
||||||Jonathan
Huggett|(appointed||14July 2022)||
||||||Michael Blackmore (resigned|||8June 2022)||
||||||Sylvia Lowe (resigned 29 October 2021)|||||
||||||Rohit Talwar (appointed||14July 2022,||resigned 23|
||||||September 2022)|||||
|Principal|address|and registered||office|Thomas House, 84 Eccleston|||Square,|Pimlico,|
||||||London, SW1V 1PX|||||
|||Charity|number||1036232|||||
|||Company|number||02887166|||||
|||||Auditor|Buzzacott LLP|||||
||||||130Wood Street|||||
||||||London|||||
||||||EC2V 6DL|||||
|||Legal|advisers||Anthony
Collins|||||
||||||134 Edmund
Street|||||
||||||Birmingham|||||
||||||B32ES|||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||Total|Total|
|||||Notes|funds
f000|funds
f000|
|Income from:|||||||
|Charitable
activities|||||||
|.Consultancy
and|grants||||39|99|
|Investments|||||138|215|
|Total income|||||177|314|
|Expenditure
on:|||||||
|Raising funds|||||66|69|
|Charitable
activities|||||||
|. Innovation
Fund|||||152|208|
|.Policy and insight|||||547|681|
|.Advocacy|||||234|321|
|Total expenditure|||||999|1,279|
|Deficit for the year|before investment||gains||(822)|(965)|
|Net (losses) gains|on the revaluation||and disposal of investments||(655)|1,013|
|Net income (expenditure)|||||(1,477)|48|
|Other recognised|losses:||||||
|Actuarial
gain on revaluation||pension|liability|13|||
|Net movement
in|funds|||5|(1,472)|48|
|Reconciliation
offunds|||||||
|Balances brought|forward at|1 September 2021|||10,938|10,890|
|Balances carried forward at||31 August|2022||9,466|10,938|
||||||2022|2022|2021|2021|
|---|---|---|---|---|---|---|---|---|
|||||Notes|f'000|E'000|E'000|F'000|
|Fixed assets|||||||||
|Tangible assets||||8||||8|
|Fixed asset investments||||9||9,239||10,830|
|Mixed motive investment||||10||250||250|
|||||||9,489||11,088|
|Current assets|||||||||
|Debtors|||||7||71||
|Cash at bank and|in||hand||240||101||
||||||247||172||
|Creditors: amounts||falling due|||||||
|within one year||||12|(112)||(149)||
|Net current assets||||||135||23|
|Total assets less|current|||||9,624||11,111|
|liabilities|||||||||
|Provision
for liabilities|||and charges|13||(158)||(173)|
|Total net assets||||||9,466||10,938|
|The funds ofthe|charity||||||||
|Unrestricted
funds|||||||||
|.General funds||||15||9,308||10,765|
|.Designated
funds||||15||158||173|
|Total funds||||||9,466||10,938|
##
##
||||||2022|2021|
|---|---|---|---|---|---|---|
|||||Notes|f'000|E'000|
|Cash flows from operating||activities:|||||
|Net cash used
in provided|by operating||activities|A|(935)|(1,232)|
|Cash flows from investing||activities:|||||
|Purchase oftangible
fixed|assets|||||(1)|
|Investment
income|||||138|215|
|Proceeds from the disposal||of investments|||3,529|4,102|
|Purchase of investments|||||(2,176)|(3,486)|
|Net cash provided
by investing
activities|||||1,491|830|
|Change
in cash and cash||equivalents|in the year||556|(402)|
|Cash and cash equivalents||at 1 September|||185|587|
|Cash and cash equivalents||at 31August||B|741|185|
##
|A|Reconciliation
of|net|movement|in|funds|to net cash used in|operating
activities|operating
activities|
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||f'000|E'000|
||Net movement
in funds||(as per the statement|||offinancial activities)|(1,472)|48|
||Adjustments
for:||||||||
||Actuarial
gain||||||(5)||
||Net losses (gains) on investments||||||655|(1,013)|
||Investment
income||||||(138)|(215)|
||Depreciation
charge||||||8|11|
||Decrease
in debtors||||||64|21|
||Decrease
in creditors||||||(37)|(74)|
||Decrease
in provision|for|liabilities||||(10)|(10)|
||Net cash used in operating
activities||||||(935)|(1,232)|
|B|Analysis ofcash,|cash equivalents|||and|net debt|||
||||||||2022|2021|
||||||||f'000|E'000|
||Cash at bank and
in|hand|||||240|101|
||Cash held by investment||managers||||501|84|
||Total cash and cash equivalents||||||741|185|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||funds|funds|2022|2021|
||||E'000|F'000|F'000|F'000|
|Consultancy|and|grants|39||39|99|
||||39||39|99|
||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||funds|funds|2022|2021|
||||F'000|F'000|R'000|F'000|
|Income|from|investments|138||138|215|
||||138||138|215|
##
||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||funds|funds|2022|2021|
||||F'000|F'000|R'000|F'000|
|Investment|manager's|fees|66||66|69|
||||66||66|69|
##
|Expenditur|e
on charitable
ac|tivities||||
|---|---|---|---|---|---|
||||Policy|||
|||Innovation|and|||
|Charitable|activities|fund
E'000|Insight
F'000|Advocacy
F'000|2022
f.'000|
|Direct costs||||||
|.Staff||50|179|76|305|
|.Other||21|77|33|131|
|Support costs||81|291|125|497|
|2022 Total|funds|152|547|234|933|
||||Policy|||
|||Innovation|and|||
|Charitable|activities|fund
E'000|Insight
OOOO|Advocacy
~'000|2021
8'000|
|Direct costs||||||
|.Staff||54|355|142|551|
|. Other||113|52|69|234|
|Support costs||41|274|110|425|
|2021 Total|funds|208|681|321|1,210|
||2022
f'000|2021
E'000|
|---|---|---|
|IT|21|24|
|Facilities|108|199|
|Staff|124|23|
|Governance|43|79|
|Other support costs|201|100|
|Total support costs|497|425|
##
||||||2022|2021|
|---|---|---|---|---|---|---|
||||||K'000|F'000|
|Depreciation||oftangible|fixed assets||8|11|
|Operating|lease rentals||||83|89|
|Auditor's|remuneration||(including|VAT)|||
|.Audit|||||||
|.Non-audit|||||||
##
##
|Staff costs|||
|---|---|---|
||2022|2021|
||R'000|F'000|
|Wages and salaries|377|613|
|Social security costs|31|69|
|Pension costs|21|34|
|Total staff costs|429|716|
##
##
|Staff co|sts have been alloca|ted to direct and support cos|ts as follows:||
|---|---|---|---|---|
||||2022|2021|
||||F'000|F'000|
|Direct costs|||305|551|
|Support|costs||124|165|
||||429|716|
||||2022|2021|
||||No.|No.|
|Average|number ofemployees|during the year|||
|2022|2021|
|---|---|
|No.|No.|
|Tangible fixed assets||||
|---|---|---|---|
|||Office||
|||equipment,||
||Computer|fixtures and||
||equipment|fittings|Total|
||F'000|F'000|6'000|
|Cost||||
|At 1 September 2021 and 31 August 2022|30|36|66|
|Depreciation||||
|At 1 September 2021|26|32|58|
|Charge for the year|4|4|8|
|At 31 August 2022|30|36|66|
|Net book values||||
|At 31 August 2022||||
|At 31 August 2021||||
##
##
##
|Fixed asset investments|||||
|---|---|---|---|---|
||||2022|2021|
||||f'000|F'000|
|Market value at 1 September|||10,746|10,349|
|Additions
at cost|||2,176|3,486|
|Disposals at carrying
value|||(3,529)|(4,102)|
|Net unrealised
(losses) gains|||(655)|1,013|
|Market value at 31August|||8,738|10,746|
|Cash held in short term deposits and by investment||managers|501|84|
|Value of listed investments|at 31August 2022||9,239|10,830|
|Cost oflisted investments|at 31August 2022||7,657|8,761|
|||2022|2021|
|---|---|---|---|
|||R'000|F'000|
|UK bonds||321|946|
|UK fixed|interest|564|909|
|Overseas|index linked|695|285|
|UK equities||1,592|2,117|
|Overseas|equities|3,582|3,964|
|Alternative|investments|1,984|2,525|
|||8,738|10,746|
##
||be obtained|re|garding
its fair value. This value at th|e reporting
dates is shown
be|low:|
|---|---|---|---|---|---|
|||||2022|2021|
|||||K'000|8'000|
||At 1 September||and at 31 August|250|250|
|11|Debtors|||||
|||||2022|2021|
|||||R'000|F'000|
||Prepayments|and accrued income|||71|
||||||71|
##
##
##
||||2022|2021|
|---|---|---|---|---|
||||f'000|F'000|
|Amounts|falling due|within one year|||
|Trade creditors|||30|78|
|Other creditors|||26|9|
|Accruals|and deferred|income|56|62|
||||112|149|
##
|Provisio|n for liabilities
and charges|||
|---|---|---|---|
|||2022|2021|
|||R'000|E'000|
|At 1 September||173|183|
|Released|in the period|(10)|(10)|
|Actuarial|valuation|(5)||
|At 31August||158|173|
##
##
##
|Statement offunds|||||
|---|---|---|---|---|
|||Unrestricted|RCP|2022|
||Restricted|general|Pension|Total|
||fund|fund|Fund|funds|
||E'000|F'000|f'000|R'000|
|At 1 September 2021||10,765|173|10,938|
|Income||177||177|
|Expenditure||(989)|(10)|(999)|
|Gains and losses||(645)|(5)|(650)|
|Balance at 31August 2022||9,308|158|9,466|
##
|Statement offunds (continued)|||||
|---|---|---|---|---|
|||Unrestricted|RCP|2021|
||Restricted|general|Pension|Total|
||fund|fund|Fund|funds|
||E'000|8'000|E'000|E'000|
|At 1 September 2020||10,707|183|10,890|
|Income||314||314|
|Expenditure||(1,269)|(10)|(1,279)|
|Gains and losses||1,013||1,013|
|Balance at 3'I August 2021||10,765|'I73|10,939|
##
|Analysis of net assets betw|een funds||||
|---|---|---|---|---|
|||Unrestricted|RCP|2022|
||Restricted|general|Pension|Total|
||fund|fund|Fund|funds|
||E'000|F'000|F'000|R'000|
|Fixed assets||9,489||9,489|
|Net current assets||(181)|316|135|
|Provisions|||(158)|(158)|
|||9,308|158|9,466|
|||Unrestricted|RCP|2021|
||Restricted|general|Pension|Total|
||fund|fund|Fund|funds|
||E'000|E'000|E'000|8'000|
|Fixed assets||11,088||11,088|
|Net current assets||(323)|346|23|
|Provisions|||(173)|(173)|
|||10,765|173|10,938|
##
##
||||||||Office|space||
|---|---|---|---|---|---|---|---|---|---|
||||||||2022||2021|
||||||||f'000||F'000|
|Amounts|due|within|one|year|||||61|
|Amounts|due|within|one|and|five|years||||
||||||||||61|