##
|Reports|Reports|||
|---|---|---|---|
|Reference and administrative||details ofthe charity,|its|
|Management
Committee|and its advisers||1|
|Introduction||||
|Report ofthe Management||Committee|12|
|Independent
examiner's|report to the members of|||
|Race Equality
Foundation|||17|
|Financial Statements||||
|Statement of Financial|Activities||19|
|Balance sheet|||20|
|Statement ofCash Flows|||21|
|Notes to the Financial|Statements||22|
##
|eference
dvisers|and admi|nistrative||details of|the charity, its Manag|ement
Com|ement
Com|ement
Com|ement
Com|mittee
an|d its|d its||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||Status|The organisation|is a charitable||||company|limited||by|
||||||guarantee
registered|as a charity|||on|29 November||199S,||
||||||and incorporated|||||on 20 March||1997.||
||Management||Committee||C Pennie —Trustee and Chair||(resigned 20'" July||||2022)|||
||||||KWoodley —Trustee and Chair|||(appointed
19'"May||||||
||||||2022)|||||||||
||||||J Lane —Trustee and Vice Chair|||(resigned 20'" July 2022)||||||
||||||R Karim —Trustee and|Company Secretary (resigned||||||20'"||
||||||July 2022)|||||||||
||||||J Dumont-Barter
—Trustee (resigned|||||20"July 2022)||||
||||||A Chowdry —Trustee and Company Secretary (resigned|||||||||
||||||20'"July 2022)|||||||||
||||||C Farquharson
—Trustee|||||||||
||||||T Gill —Trustee and Treasurer|||||||||
||||||G Randhawa
—Trustee|||||||||
||||||M Owusu —Trustee|||||||||
||||||R Anand —Trustee (appointed|||19'"May 2022)||||||
||||||JJutti-Johal —Trustee|(appointed|||19'"May 2022)|||||
||||||P Lawson —Trustee (appointed|||19'"May 2022)||||||
||||||D Mbeutcha —Trustee|(appointed|||19'"May 2022)|||||
||||||A Pinto —Trustee (appointed||19'"May 2022)|||||||
|Registered|office and|operational||address|Unit 17Deane House|Studios||||||||
||||||27 Greenwood
Place|||||||||
||||||London|||||||||
||||||NWS 1LB|||||||||
||Company|registration||number|03121679(England
and Wales)|||||||||
||Charity|registration||number|1051096|||||||||
||Independent|||Examiner|McBrides Accountants|LLP||||||||
||||||Nexus House|||||||||
||||||2 Cray Road|||||||||
||||||Sidcup|||||||||
||||||Kent|||||||||
||||||DA14 SDA|||||||||
|||||Actuaries|Barnett Waddingham|LLP||||||||
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|||||||2022|2021|
|---|---|---|---|---|---|---|---|
|||||Restricted|Unrestricted|Total|Tota
I|
|||||funds|funds|funds|funds|
||||Notes|6|6|6|6|
|Income||||||||
|Donations
and legacies
—Donations|||||48,031|48,031|21,082|
|Income from chantable
activities||||||||
|- Promoting
good race relations|||2|418,902|329,496|748,398|1,237,030|
|- Coronavirus
job retention
scheme|||6||1,525|1,525|38,676|
|Investment
income|||||36|36|205|
|Totalincome||||418,902|379,088|797,990|1,296,993|
|Expenditure||||||||
|Expenditure
on charitable
activities||||||||
|—Promoting
good race relations|||3|487,594|379,706|867,300|1,180,239|
|Total expenditure||||487,594|379,706|867,300|1,180,239|
|Net (expenditure)/income
for the||year||(68,692)|(618)|(69,310)|116,754|
|Transfer offunds||||8,550|(8,550)|||
|Other recognised
gains and losses:||||||||
|- Re-measurement
ofthe pension||fund net defined||liability/surplus||||
|—Change
in financial assumptions|||||175,000|175,000|(799,000)|
|—Return
on plan assets excluding||interest income|||343,000|343,000|885,000|
|—Asset ceiling adjustment|||14||(431,000)|(431,000)||
|Net income and net movement
year|in|funds|for the|(60,142)|77,832|17,690|202,754|
|Fund balances brought
forward||||60,142|230,556|290,698|87,944|
|Fund balances carried forward|||||308,388|308,388|290,698|
##
|As at 31March 2022||||||||
|---|---|---|---|---|---|---|---|
||||Notes|2022|2022|2021|2021|
|||||6|6|6|6|
|Fixed assets||||||||
|Tangible assets|||||794||1,370|
|Current assets||||||||
|Debtors|||10|135,914||126,233||
|Cash at bank and in hand||||337,392||460,953||
|Total Current Assets||||473,306||587,186||
|Liabilities||||||||
|Creditors falling due within one year||||(165,712)||(245,858)||
|Net Current Assets|||||307,594||341,328|
|Total assets less current|liabilities||||308,388||342,698|
|Creditors
falling
due after more than||one||||||
|year||||||||
|—Pension
liability|||14||||(52,000)|
|Total Net Assets/(Liabilities)|||||308,388||290,698|
|The funds ofthe chadity||||||||
|Restricted
income funds|||12||||60,142|
|Unrestricted
income funds||||||||
|—General fund|||12||308,388||282,556|
|—Pension reserve|||14||||(52,000)|
|Total Funds/(Deficit)|||||308,388||290,698|
##
##
|Forthe year ending 31Mar|ch 2022|||||||
|---|---|---|---|---|---|---|---|
|||Notes||2022|2022|2021|2021|
|||||6|6|f|6|
|Net income/(expenditure)|||||(69,310)||116,754|
|Adjustments:||||||||
|—Investrnenl
income|||||(36)||(205)|
|—Depreciation|||||576||671|
|—Pension fund|||||35,000||17,000|
|—(Increase)in debtors||||(9,681)||(19,955)||
|—(Decrease)/Increase
in creditors||||(80,146)|(89,827)|114,375|94,420|
|Net cash generated
by operating|activities||||(123,597)||228,640|
|Cash provided/(used)
by investing|activities|||||||
|- Investment
income|||||36||205|
|- Capital expenditure|||||||(1,714)|
|(Decrease)/Increase
in cash and cash equivalents|||in the|year|(123,561)||227,131|
|Cash and cash equivalents
at the|beginning|ofthe|year||460,953||233,822|
|Cash and cash equivalents
at the|end ofthe|year|||337,392||460,953|
|Cash on deposit (less than 3 months)|||||335,577||458,510|
|Cash on current account and in hand|||||1,815||2,443|
|Total cash and cash equivalents|||||337,392||460,953|
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
##
|2.Income from charitable|2.Income from charitable|2.Income from charitable|activities|activities|||Restricted|Unrestricted|2022|2021|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|Total|Tota
I|
||||||||||funds|funds|
||||||||||E|E|
|Grants|||||||||||
|Dept. of Health|—Health and Wellbeing||||||92,681||92,681|89,500|
|Dept. of Health|—Health and Wellbeing:||||Parental|confhct||||30,000|
|Dept. of Health|—COVID-19: Dementia|||||||||475,030|
|NHS England —Learning||disabilities||||||||50,000|
|SFSCRandomised
Control Trial|||||||84,050||84,050|65,850|
|SFSCWaltham|Forest||||||48,516||48,516|106,353|
|SFSCWestminster|||||||70,500||7D,500|85,431|
|SFSCCookham|Wood||||||1,660||1,660|29,555|
|SFSCCity of London|||||||300||300|25,912|
|SFSC - Other|||||||78,659||78,659|75,006|
|The Health Foundation||—Collaboration|||for Wellbeing||||||
|and Health|||||||24,216||24,216|50,297|
|The Baring Foundation||—Inclusion||in Arts and Mental|||||||
|Health activities||||||||||10,000|
|ADAPT Study|||||||18,320||18,320||
|Other income|||||||||||
|SFSCTraining
and reference matenal||||||||176,586|176,586|88,987|
|Consultancy||||||||152,910|152,910|55,109|
||||||||418,902|329,496|748,398|1,237,030|
|||||||2021|1,092,934|144,096|1,237,030||
##
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|3.Expenditure
on charitable|||||activities|||Central core|Staff costs|Direct|2022|2021|
|||||||||costs|(Refer to|OPerating costs|Total|Total|
|||||||||(Referto|nate 6)||||
|||||||||note 4)|||||
|||||||||f|||||
|Dept. of Health —Health||and Wellbeing||||||16,304|66,158|10,340|92,802|89,841|
|Dept. of Health —Health
Parental
conflict||and Wellbeing:||||||||||30,539|
|Dept. of Health —COVID-19: Dementia||||||||||||475,153|
|NHS England —Learning||disabilities||||||9,400|38,145|400|47,945|2,256|
|SFSCRandomised
Control Tnal||||||||13,413|54,428|16,912|84,753|67,837|
|SFSCWaltham
Forest||||||||7,788|31,603|9,595|48,986|107,056|
|SFSCWestminster||||||||8,439|34,242|28,385|71,066|86,756|
|SFSCCookham
Wood||||||||370|1,503||1,873|29,810|
|SFSCCity of London||||||||||||26,646|
|SFSC - Other||||||||13,364|54,227|11,122|78,713|75,335|
|The Health
Foundation
Wellbeing
and Health|—Collaboration|||||for||4,514|18,319|9,624|32,457|43,119|
|The Baring Foundation
Mental
Health activities|—Inclusion||||in Arts and|||445|1,806|4,771|7,022|4,780|
|ADAPT Study||||||||2,408|9,769|9,800|21,977||
|SFSCTraining
and reference|||material|||||||41,089|41,089|21,719|
|Consultancy||||||||90,716|226,079|18,466|335,261|61,929|
|Coronavirus
lob Retention
staff costs|||Scheme furloughed||||||3,356||3,356|57,463|
|||||||||167,161|539,635|160,504|867,300|1,180,239|
||||||||2021|110,226|490,967|579,046|1,180,239||
||||||||||||2022|2021|
|4.Support and governance||||costs|||||||f|f|
|Further analysis|||||||||||||
|Premises costs|||||||||||85,540|58,914|
|Communication
costs|||||||||||3,458|1,640|
|Legal and ether professional|||fees||including||consultancy||||15,766|11,485|
|Pension scheme|||||||||||||
|-Current service cost|||||||||||71,000|50,000|
|- Interest cost (net of return|||on|scheme||assets)|||||1,000|3,000|
|—Contributions
paid
gr allocated||||in Staff||costs|||||(39,000)|(38,000)|
|-Administration
expense|||||||||||2,000|2,000|
|Office costs|||||||||||25,665|18,107|
|Depreciation|||||||||||576|671|
|Other costs|||||||||||1,156|2,409|
||||||||||||167,161|110,226|
##
|This is state|d after ch||arging|:|||||
|---|---|---|---|---|---|---|---|---|
||||||||2022|2021|
||||||||6|6|
|Depreciation|||||||576|671|
|Governance|Costs:||||||||
|—Trustees|expenses||||||||
|—Auditors|remuneration||(excludmg||VAT)|||4,750|
|—Independent
examination||||(excluding||VAT)|1,800||
|Rentals under operating|||leases:||||||
|—Property|(excluding|VAT)|||||55,258|34,787|
|—Equipment|||||||666|399|
|6.Staff costs and numbers|||||||||
|Staff costs|during the||year|were|as|follows:|||
||||||||2022|2021|
||||||||6|6|
|Salaries|||||||448,551|405,426|
|Social security costs|||||||41,840|36,823|
|Pension costs|||||||46,604|46,303|
|Staff training|&Welfare||costs||||2,640|2,415|
||||||||539,635|490,967|
|The average|number ofempl|oyees
during the year was as follow|s:||
|---|---|---|---|---|
||||2022|2021|
||||No|No|
|Chief Executive Officer|||1|1|
|Project staff|||12|11|
|Management|and administrative|staff|1|1|
||||14|13|
##
##
|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|9.Tangible|fixed assets|Leasehold|Furniture|&|Plant &|Office|Restricted||Total|
|||Improvements|Fixtures||Machinery|Equipment||Fund||
||||||||Equipment|||
|||||||||E||
|Cost||||||||||
|At 1April 2021||44,018|3,631||10,932|13,919|4,870||77,370|
|Additions||||||||||
|Disposals||||||||||
|At 31March|2022|44,018|3,631||10,932|13,919|4,870||77,370|
|Depreciation||||||||||
|At 1April 2021||44,017|3,631||10,932|12,550|4,870||76,000|
|Charge for year||||||576|||576|
|At 31March|2022|44,017|3,631||10,932|13,126|4,870||76,576|
|Net book values||||||||||
|At 31March|2021|||||1,369|||1,370|
|At 31March|2022|||||793|||794|
|10.Debtors|||||||2022||2021|
||||||||E||E|
|Fees receivable|||||||55,251||78,840|
|Prepayment|and other debtors||||||80,663||47,393|
||||||||135,914||126,233|
##
|||||||
|---|---|---|---|---|---|
|11.Creditors:|amounts||falling due within one year|2022|2021|
|||||E|E|
|Trade creditors||||26,421|39,971|
|Social security and other taxes||||12,539|11,549|
|Value Added Tax||||6,268||
|Pension contributions||||5,790|5,390|
|Deferred income||||66,310|107,494|
|Accruals and sundry||creditors||48,384|81,454|
|||||165,712|245,858|
||||||
|---|---|---|---|---|
|11aDeferred Income|||2022|2021|
||||E|E|
|Deferred Income|brought forward||107,494|57,316|
|Released to income
in the year|||(107,494)|(57,316)|
|Deferred income|in the year||66,310|107,494|
|Deferred Income|carried forward|(See note 11)|66,310|107,494|
##
|delivered
were as fo|l|lows:||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||At 1April|Income|Expenditure|Transfer of Funds|At 31March|
||||||||2021||||2022|
||||||||6||E|f|6|
|Revenue funding||||||||||||
|Dept. of Health —Health and|||Wellbeing|||||92,681|(92,802)|121||
|(why wellbeing
is relevant to|||health|policy)||||||||
|NHS England —Learning||disabilities|||||47,744||(47,945)|201||
|SFSCRandomised
Control Trial||||||||84,050|(84,753)|703||
|(evaluating
the effectiveness|||of parenting|||||||||
|programmes)||||||||||||
|SFSCparenting
programmes|||for|||||||||
|Waltham
Forest||||||||48,516|(48,986)|470||
|Westminster||||||||70,500|(71,066)|566||
|Cookham Wood||||||||1,660|(1,873)|213||
|City of London||||||||300||(300)||
|Other||||||||78,659|(78,713)|54||
|The Health Foundation||—Collaboration|||for|||||||
|Wellbeing
and Health|||||||7,178|24,216|(32,457)|1,063||
|(collective action to address the wider||||||||||||
|determinants
of health)||||||||||||
|The Baring Foundation||(issues around|||the|||||||
|inclusion of Ethnically|Diverse communities|||||in||||||
|Arts and Mental
Health||Activities)|||||5,220||(7,022)|1,802||
|ADAPT Study||||||||18,320|(21,977)|3,657||
|Total restricted
funds|||||||60,142|418,902|(487,594)|8,550||
|Total unrestricted
funds||||||||||||
|- General fund|||||||282,556|379,088|(379,706)|26,450|308,388|
|- Pension reserve|||||||(52,000)||87,000|(35,000)||
|Totalfunds|||||||290,698|797,990|(780,300)||308,388|
|13.Analysis of|13.Analysis of|net|assets between|funds||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|2022|2021|
|||||||f|f|f|f|
|Fund balances at||31|March|||||||
|Are represented||by:||||||||
|—Tangible|fixed assets||||||794|794|1,370|
|—Current|assets||||||473,306|473,306|587,186|
|Creditors: amounts|||falling due within|one year|||(165,712)|(165,712)|(245,858)|
|Pension|liability|provision|||||||(52,000)|
|Total net|assets||||||308,388|308,388|290,698|
||||||2021|00,142|230,556|290,698||
##
##
##
|The major assumptions|The major assumptions|The major assumptions|used by Barnett Waddingh|used by Barnett Waddingh|am|LLP were as follows:|2022|2021|
|---|---|---|---|---|---|---|---|---|
|Rate ofincrease||in salaries|||||4.20|3.80|
|Rate ofincrease||in pensions||(CPI)|||3.20|2.80|
|Discount rate|||||||2.60|2.00|
|Rate ofinflation||(20years|duration):||||||
|- CPiincreases|||||||3.20|2.80|
|RPlincreases|||||||3.55|3.20|
|The mortality|assumptions|||used were:|||2022|2021|
||||||||Yeai'5|Years|
|Longevity at age||65 retiring||today|||||
|- Males|||||||21.6|21.6|
|Females|||||||23.7|23.6|
|Longevity at age||65 retiring||in 20years|||||
|- Males|||||||23.0|22.9|
|Females|||||||25.1|25.1|
##
|||||||
|---|---|---|---|---|---|
|The estimated
asset allocation|in the|scheme and present value|ofscheme liabilities|2022|2021|
|were:||||f000's|f000's|
|Equities||||2,829|2,666|
|Gilts||||112|111|
|Other bonds||||206|216|
|Property||||386|307|
|Cash/temporary
investments||||120|204|
|Alternative
assets||||582|498|
|Other managed
funds||||476|312|
|Far value ofscheme assets (bid value)||||4,711|4,314|
|Present value ofscheme liabilities||||(4,280)|(4,366)|
|Net asset/(liability)||||431|(52)|
|The reconciliation
ofopening
and closing balances ofthe present
benefit obligation
is as follows:|||value ofthe defined|2022
f000's|2021
6000's|
|Opening
defined
benefit obligation||||4,366|3,504|
|Current service cost||||71|50|
|Interest cost||||87|82|
|Change
in financial
assumptions||||(183)|873|
|Change
in demographic
assumptions|||||(37)|
|Expenence loss/(gain)
on defined|benefit|obligation||8|(37)|
|Estimated
benefits
paid (net oftransfers||in)||(82)|(82)|
|Contribution
by scheme participants||||13|13|
|Closing defined benefit obligation||||4,280|4,366|
|service cost, together
with a +/- 1year ag|e rating adjustme|nt
to the mortality
a|ssumption
is as follows:||
|---|---|---|---|---|
|||f000's|6000's|6000's|
|Adjustment
to discount rate||+0.1%|0.0%|-0.190|
|Present value oftotal obligation||4,203|4,280|4,359|
|Projected service cost||64|66|68|
|Adjustment
to life expectancy
assumptions||+ 1year|None|-1year|
|Present value oftotal obligation||4,456|4,280|4,111|
|Projected service cost||69|66|63|
|Adjustment
to long term salary increase assumptions||401%|0.0/|-01%|
|Present value oftotal obligation||4,294|4,280|4,267|
|Projected service cost||66|66|66|
|Adjustment
to pension
increases and deferred|revaluation|+0.1%|0.0%|-0.19'|
|Present value oftotal obligation||4,432|4,280|4,217|
|projected service cost||71|66|64|
##
|14
Pension com|mitme|nt|s
(continued)|||||
|---|---|---|---|---|---|---|---|
|The reconciliation
offair|value|of|scheme assets is|as follows:||2022|2021|
|||||||EOOD's|EOOD's|
|Opening fair value ofscheme assets||||||4,314|3,383|
|Interest
on assets||||||86|79|
|Return on assets less interest||||||343|885|
|Administration
expenses||||||(2)|(2)|
|Contnbutions
by employer|including||unfunded|||39|38|
|Contributions
by fund participants||||||13|13|
|Estimated
benefits
paid (net oftransfers
in and including||||unfunded)||(82)|(82)|
|Far value ofscheme assets|(bid value)|||||4,711|4,314|
|Asset ceiling adjustment||||||(431)||
|Closing fair value ofscheme|assets|||||4,280|4,3)4|
|The reconciliation
ofscheme assets and liabilities||||is as|Assets|Liabilities|Total|
|follows:|||||EOOD's|EOOD's|f000's|
|At 1April 2021|||||4,314|(4,366)|(52)|
|Benefits paid|||||(82)|82||
|Employer contributions|||||39||39|
|Fund participant
contributions|||||13|(13)||
|Current service cost||||||(71)|(71)|
|Administration
expense|||||(2)||(2)|
|Interest income/(expense)|||||86|(87)|(1)|
|Experience gain on defined|benefit|obhgation||||(8)|(8)|
|Re-measurement
gains/(losses)||||||||
|- Change
in financial
assumptions||||||183|183|
|- Return
on plan assets excludmg||interest income|||343||343|
|- Asset ceiling adjustment|||||(431)||(431)|
|At 31March 2022|||||4,280|(4,280)||
##
|leases fo|r the following
periods:||||||
|---|---|---|---|---|---|---|
|||Land and buildings|||Other||
|Payments|due|2022|2021|2022||2021|
|||6|6|6||E|
|Not later|than one year|||555||599|
|Later than|one year and not later than five years||||||
|Total||||555||599|
##
##
##
##
##
|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||Restricted|Unrestricted|Total|Total|
|||||funds|funds|funds|funds|
|Income||||||||
|Donations
and legacies - Donations|||||21,082|21,082||
|Income from charitable
activities||||||||
|—Promoting
good race relations||||1,092,934|144,096|1,237,030|934,961|
|- Coronavirus
job retention
scheme|||||38,676|38,676||
|Investment
income|||||205|205||
|Total income||||1,092,934|204,059|1,296,993|934,961|
|Expenditure||||||||
|Expenditure
on charitable
activities||||||||
|- Promoting
good race relations||||1,039,128|141,111|1,180,239|922,448|
|Total expenditure||||1,039,128|141,111|1,180,239|922,448|
|Net income for the year||||53,806|62,948|116,754|12,513|
|Transfer of Funds||||6,336|(6,336)|||
|Other recognised
gains and losses:||||||||
|-Re-measurement
ofthe pension fund net defined|||liability|||||
|Change
in financial
assumptions|||||(799,000)|(799,000)|451,000|
|Return on plan assets excluding||interest income|||885,000|885,000|(269,000)|
|Net income and net movement|in funds for the|||||||
|year||||60,142|142,612|202,754|194,513|
|Fund balances brought forward|||||87,944|87,944|(106,569)|
|Fund balances carried forward||||60,142|230,556|290,698|87,944|