##
|Contents|Reports||||||
|---|---|---|---|---|---|---|
||Reference and administrative|||details ofthe charity,|its||
||Management|Committee|and its advisers||||
||Welcome||||||
||Report ofthe|Management||Committee|||
||Independent|Auditor's
report to the members of|||||
||Race Equality|Foundation||||18|
||Financial Statements||||||
||Statement
of|Financial Activities||||22|
||BaIance sheet|||||23|
||Statement
of|Cash Flows||||24|
||Notes to the|Financial Statements||||25|
##
|Charity reference and administrative
information|Charity reference and administrative
information|Charity reference and administrative
information|Charity reference and administrative
information|Charity reference and administrative
information||||
|---|---|---|---|---|---|---|---|
|Legal Status||||The organisation
is a charitable
company||limited
by guarantee||
|||||registered
as a charity on 29 November||1995,and incorporated|on|
|||||20 March 1997.||||
|Management||Committee||Karin Woodley CBE —Trustee and Chair||(appointed
19'"May 2022)||
|||||Dr Clenton
Farquharson
CBE —Trustee||||
|||||Tajinder
Gill —Trustee and Treasurer||||
|||||Professor Gurch Randhawa —Trustee||||
|||||Melvina Woode Owusu —Trustee||||
|||||Reena Anand —Trustee (appointed
19'"||May 2022)||
|||||Professor Jagbi Jutti-Johal —Trustee (appointed
19'"May 2022)||||
|||||Patricia Lawson —Trustee (appointed|19'"May 2022)|||
|||||Donald Mbeutcha —Trustee (appointed||19'"May 2022)||
|||||Amanda
Pinto
KC —Trustee (appointed||19'"May 2022)||
|||||Constantia
Pennie —Trustee and Chair|(stood down 20'" July|||
|||||2022)||||
|||||Jane Lane —
Trustee and Vice Chair (stood down 20'" July 2022)||||
|||||Razia Karim —Trustee and Company
Secretary (stood down 20'"||||
|||||July 2022)||||
|||||Judi Dumont-Barter —Trustee (stood down 20'" July 2022)||||
|||||Abdul Chowdry —Trustee and Company||Secretary (stood down||
|||||20'" July 2022)||||
|Chief Executive||||Jabeer Butt OBE||||
|Registered|office and|||Unit 17Deane House Studios, 27 Greenwood
Place||||
|operational||address||London
NWS 1LB||||
|Company|registration|||03121679(England
and Wales)||||
|number||||||||
|Charity registration|||number|1051096||||
|Auditors||||McBrides Accountants
LLP||||
|Actuaries||||Barnett Waddingham
LLP||||
|Bankers||||Barclays Bank PLC||||
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||||||2023|2022|
|---|---|---|---|---|---|---|
||||Restricted|Unrestricted|Tote I|Total|
||||funds|funds|funds|funds|
|||Notes|E|E|6|E|
|Income|||||||
|Donations
and legacies|—Donations|||6,968|6,968|48,031|
|Income from charitable|activities||||||
|- Promoting
good race|relations||582,432|431,978|1,014,410|748,398|
|—Coronavirus
job retention
scheme||||||1,525|
|Investment
income||||596|596|36|
|Total income|||582,432|439,542|1,021,974|797,990|
|Expenditure|||||||
|Expenditure
on charitable
activities|||||||
|- Promoting
good race|relations||498,434|497,858|996,292|867,300|
|Total expenditure|||498,434|497,858|996,292|867,300|
|Net income/(expenditure)
for the year|||83,998|(58,316)|25,682|(69,310)|
|Transfer offunds|||2,010|(2,010)|||
|Other recognised
gains|and losses:||||||
|-Re-measurement
ofthe pension fund net defined|||||||
|liability/surplus|||||||
|—Change
in financial
assumptions||14||1,593,000|1,593,000|175,000|
|—Return on plan assets excluding||14||(105,000)|(105,000)|343,000|
|interest income|||||||
|—Asset ceiling adjustment||14||(1,390,815)|(1,390,815)|(431,000)|
|Net income and net movement||in funds for the|86,008|36,859|122,867|17,690|
|year|||||||
|Fund balances brought|forward|||308,388|308,388|290,698|
|Fund balances carried forward|||86,008|345,247|431,255|308,388|
|As at 31M|arch 2023|||||||
|---|---|---|---|---|---|---|---|
||||Notes|2023|2023|2022|2022|
|||||6|E|E|E|
|Fixed assets||||||||
|Tangible assets|||||218||794|
|Current assets||||||||
|Debtors due|within one year||10a|247,322||135,914||
|Debtors due|m more than|one year|10b|52,790||||
|Cash at bank|and in hand|||414,977||337,392||
|Total Current|Assets|||715,089||473,306||
|Liabilities||||||||
|Creditors falhng due within one year||||(284,052)||(165,712)||
|Net Current|Assets||||431,037||307,594|
|Total assets|less current|liabilities|||431,255||308,388|
|Tota I Net Assets|||||431,255||308,388|
|The funds of|the charity|||||||
|Restricted
income funds|||12||86,008|||
|Unrestricted|income funds|||||||
|General fund|||12||266,062||308,388|
|Pension reserve|||12,14||79,185|||
|Total Funds|||||431,255||308,388|
##
|For the year ending 3|1|Ma|rch 2023|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Notes||2023|2023|2022|2022|
|||||||6|6|6|6|
|Net income/(expenditure)|||||||25,682||(69,310)|
|Adjustments:||||||||||
|- Investment
mcome|||||||(596)||(36)|
|Depreciation|||||||576||576|
|Pension fund|||||||97,185||35,000|
|-(Increase) in debtors||||||(164,198)||(9,681)||
|- Increase in creditors||||||118,340|(45,858)|(80,146)|(89,827)|
|Net cash generated
by operating|||activities||||76,989||(123,597)|
|Cash provided
by investing|activities|||||||||
|- Investment
income|||||||596||36|
|-Capital expenditure||||||||||
|Increase/(Decrease)
in cash and|||cash equivalents||in the|year|77,585||(123,561)|
|Cash and cash equivalents|at the beginning|||ofthe|year||337,392||460,953|
|Cash and cash equivalents|atthe end ofthe|||year|||414,977||337,392|
|Cash on deposit (less than|3|months)|||||412,555||335,577|
|Cash on current account and||in hand|||||2,422||1,815|
|Total cash and cash equivalents|||||||414,977||337,392|
##
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##
##
|2.Income from|2.Income from|charitable|charitable|activities|activities||Restricted|Unrestricted|2023|2022|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||funds|funds|Total|Total|
||||||||||funds|funds|
||||||||||6|6|
|Grants|||||||||||
|Dept. of Health —Health|||and|Wellbeing|||92,681||92,681|92,681|
|London
Borough of Waltham||||Forest: Parental|||||||
|conflict|||||||42,000||42,000||
|Barnardo's
Trauma||and Racism Project|||||20,000||20,000||
|Burdett Trust|for Nursing||grant||||179,400||179,400||
|SFSCRandomised||Control Trial|||||93,693||93,693|84,050|
|SFSC London|Borough ofWaltham||||Forest|||||48,516|
|SFSC London|Borough ofWestminster||||||76,797||76,797|70,500|
|SFSCCookham Wood||||||||||1,660|
|SFSC City of London||||||||||300|
|SFSC —Other|||||||73,413||73,413|78,659|
|The Health
Foundation —Collaboration||||||for Wellbeing|||||
|and Health||||||||||24,216|
|ADAPT Study|||||||4,448||4,448|18,320|
|Other income|||||||||||
|SFSCTraining|and|reference||material||||172,438|172,438|176,586|
|Consultancy||||||||259,540|259,540|152,910|
||||||||582,432|431,978|1,014,410|748,398|
|||||||2022|418,902|329,496|748,398||
##
##
|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|3.Expenditure
on charitable||activities||||Central||Staff costs|Direct|2023|2022|
|||||||core costs||(Referto|operating|Total|Total|
|||||||(Referto||note 6)|costs|||
|||||||note|4)|||||
|||||||5||||||
|Dept. of Health —Health and|Wellbeing|||||16,818||71,623|4,281|92,722|92,802|
|London Borough ofWaltham
Parental
conflict|Forest:||||||5,667|24,133|13,305|43,105||
|Barnardo's
Trauma
and Racism||Project|||||3,809|16,221||20,030||
|Burdett Trust for Nursing
Grant|||||||5,373|22,880|65,139|93,392||
|NHS England —Learning disabilities|||||||||||47,945|
|SFSC Randomised
Control )rial|||||||9,980|42,500|41,328|93,808|84,753|
|SFSC London Borough of Waltham|||Forest||||||||48,986|
|SFSC London Borough of Westminster|||||||8,320|35,434|33,491|77,245|71,066|
|SFSCCookham Wood|||||||||||1,873|
|SFSCCity of London||||||||||||
|SFSC - Other||||||13,990||59,580||73,570|78,713|
|The Health Foundation —Collaboration||||for||||||||
|Wellbeingand
Health|||||||||||32,457|
|The Baring Foundation
—Inclusion|||in Arts|||||||||
|and Mental
Health activities|||||||||||7,022|
|ADAPT Study|||||||867|3,693||4,560|21,977|
|SFSCTraining and reference|material||||||2,970|12,647|88,274|103,891|41,089|
|Consultancy||||||81,561||270,686|41,722|393,969|335,261|
|Coronavirus
lob Retention Scheme||||||||||||
|furloughed
staff costs|||||||||||3,356|
|||||||149,355||559,397|287,540|996,292|867,300|
|||||2022||167,161||539,635|160,504|867,300||
|4.Support and governance||costs||||||||2023
E|2022
E|
|Further analysis||||||||||||
|Premises costs||||||||||80,952|85,540|
|Communication
costs||||||||||4,948|3,458|
|Legal and other professional|fees including||||consultancy|||||15,929|15,766|
|Pension scheme||||||||||||
|- Current service cost||||||||||68,000|71,000|
|- Interest cost (net ofreturn|on|scheme||assets)||||||(12,000)|1,000|
|- Contributions
paid &allocated||in|Staff|costs||||||(41,000)|(39,000)|
|-Administration
expense||||||||||3,000|2,000|
|Office costs||||||||||26,096|25,665|
|Depreciation||||||||||576|576|
|Other costs||||||||||2,854|1,156|
|||||||||||149,355|167,161|
##
##
|This is state|d after ch|a|rgin|g:|||||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||E|E|
|Depreciation|||||||576|576|
|Governance|Costs.'||||||||
|-Trustees'|expenses||||||765||
|- Auditors'|remuneration||(excluding||VAT)||5,850||
|- Independent
examination||||(excluding||VAT)||1,800|
|Rentals under operating|||leases:||||||
|- Property|(excluding|VAT)|||||55,258|55,258|
|- Equipment|(excluding||VA1|)|||666|666|
##
|||2023|2022|
|---|---|---|---|
|||6|E|
|salanes||460,540|448,551|
|Socialsecurity|costs|45,094|41,840|
|Pension costs||49,935|46,604|
|Staff training|&welfare costs|3,828|2,640|
|||559,397|539,635|
|The average|number of empl|oyees
during the year was as fo|llows:||
|---|---|---|---|---|
||||2023|2022|
||||No|No|
|Chief Executive Officer|||||
|Project staff||||12|
|Management|and administrative|staff||1|
||||13|14|
##
##
##
|9.Tangible|fixed assets|fixed assets|Leasehold|Furniture|&|Plant &|Officefquipment|Restricted|Total|
|---|---|---|---|---|---|---|---|---|---|
||||Improvements|Fixtures|Machinery|||Fund||
||||||||E|Equipment||
|||||||E||6||
|Cost||||||||||
|At 1April 2022|||44,018|3,631||10,932|13,919|4,870|77,370|
|Additions||||||||||
|Disposals||||||||||
|At 31March|2023||44,018|3,631||10,932|13,919|4,870|77,370|
|Depreciation||||||||||
|At 1April 2022|||44,017|3,631||10,932|13,126|4,870|76,576|
|Charge for year|||||||576||576|
|At 31March|2023||44,017|3,631||10,932|13,702|4,870|77,152|
|Net book values||||||||||
|At 31 March|2022||||||793||794|
|At 31March|2023||||||217||218|
|10.Debtors||||||||2023|2022|
|||||||||6|6|
|Fees receivable||||||||164,824|55,251|
|Prepayment|and other|debtors||||||56,103|80,663|
|Defined benefit pension||fund contributions||||||26,395||
|al
Debtors|due within|one year||||||247,322|135,914|
|b)
Debtors|due in more than one year; Defined|||benefit pension||fund contributions||52,790||
|11.Creditors:|amounts|amounts|falling due within one year|2023|2022|
|---|---|---|---|---|---|
|||||E|6|
|Trade creditors||||20,087|26,421|
|Social security and other taxes||||13,330|12,539|
|Value Added Tax||||22,366|6,268|
|Pension contributions||||6,003|5,790|
|Deferred income||||166,872|66,310|
|Accruals
and sundry||creditors||55,394|48,384|
|||||284,052|165,712|
##
|Notes to the Financial S|tate|m|ents|||||||
|---|---|---|---|---|---|---|---|---|---|
|11aDeferred income|||||||2023||2022|
||||||||E||E|
|Deferred Income brought forward|||||||66,310||107,494|
|Released to income
m the year|||||||(66,310)||(107,494)|
|Deferred income
in the year|||||||166,872||66,310|
|Deferred
Income carried forward||(See note 11)|||||166,872||66,310|
|12.Restricted and Unrestricted|||funds|||||||
|During the year to 31March 2023the funds||||ofthe charity included||restricted funds held on trusts|||to be|
|applied for specific purposes.||The Trustees||Report contains a fuller||description|ofthe individual|activities. The||
|programmes
delivered
were as follows:||||||||||
||||At 1April||Income|Expenditure|Transfer of Funds||At31March|
|||||2022|||||2023|
|||||E||E||6|E|
|Revenue funding||||||||||
|Dept. of Health —Health and|Wegbeing||||92,681|(92,722)|41|||
|(why wegbeing
is relevant to|health||policy)|||||||
|Barnardo's Trauma
and Raosm Project|||||20,000|(20,030)|30|||
|(investigate
the impact oftrauma||&|raosm|||||||
|on BAME young people, children||and||||||||
|families)||||||||||
|Burdett 1rust for Nursing|||||179,400|(93,392)|||86,008|
|(high blood pressure
amongst|Black||African|||||||
|and Caribbean
people)||||||||||
|SFSC Randomised
Control Trial|||||93,693|(93,808)|115|||
|(evaluating
the effectiveness|of parenting|||||||||
|programmes)||||||||||
|SFSCparenting
programmes|for|||||||||
|London Borough ofWaltham||Forest|||42,000|(43,105)|1,105|||
|London
Borough ofWestminster|||||76,797|(77,246)|449|||
|Other|||||73,413|(73,571)|158|||
|ADAPT Study|||||4,448|(4,560)|112|||
|Total restricted
funds|||||582,432|(498,434)|2,010||86,008|
|Total unrestricted
funds||||||||||
|- General fund||||308,388|439,542|(497,858)|15,990||266,062|
|- Pension reserve||||||97,185|(18,000)||79,185|
|Total funds||||308,388|1,021,974|(899,107)|||431,255|
|Fund balances at 31March||||||||||
|Are represented
by:||||||||||
|- Tangible fixed assets||||||218|218||794|
|- Current assets due within one year|||||86,008|576,291|662,299||473,306|
|- Current assets due in more|than|one year||||52,790|52,790|||
|- Creditors: amounts
falling due within one year||||||(284,052)|(284,052)||(165,712)|
|)otal net assets|||||86,008|345,2il7|431,255||308,388|
|||||2022||308,388|308,388|||
##
##
##
##
##
|The major assumptions|The major assumptions|The major assumptions|used by Barnett Waddingham|used by Barnett Waddingham|LLP were as follows:|2023|2022|
|---|---|---|---|---|---|---|---|
|Rate ofincrease||in saladies||||3.90|4.20|
|Rate ofincrease||in pensions||(CPII||2.90|3.20|
|Discount rate||||||4.80|2.60|
|The mortality|assumptions|||used were:||2023|2022|
|||||||Years|Years|
|Longevity at age||65 retiring||today||||
|- Males||||||21.1|21.6|
|Females||||||23.5|23.7|
|Longevity at age||65 retiring||in 20years||||
|- Males||||||22.3|23.0|
|- Females||||||25.0|25.1|
##
##
|14
Pension commitm|e|nts|(contlnued)|||
|---|---|---|---|---|---|
|The estimated
asset allocation||in the|scheme and present value ofscheme|2023|2022|
|liabilities were:||||EOOO|EOOO|
|Equities||||2,734|2,829|
|Gilts||||69|112|
|Other bonds||||0|206|
|Property||||389|386|
|Cash/temporary
investments||||153|120|
|Alternative
assets||||751|582|
|Other managed
funds||||650|476|
|Far value ofscheme assets (bid value)||||4,746|4,711|
|Present value ofscheme liabilities||||(2,845)|(4,280)|
|Net asset/(liability)||||1,901|431|
|The reconciliation
ofopening|and closing balances ofthe present value ofthe|||2023|2022|
|defined benefit obligation
is as||follows:||EOOO|EOOO|
|Opening
defined benefit obligation||||4,280|4,366|
|Current
service cost||||68|71|
|Interest cost||||110|87|
|Change
in Financial assumptions||||(1,384)|(183)|
|Change
in demographic
assumptions||||(67)||
|Experience loss/(gain)
on defined|benefit||obligation|(91)|8|
|Estimated
benefits paid (net oftransfers|||in)|(85)|(82)|
|Contribution
by scheme participants||||14|13|
|Closing defined benefit obligation||||2,845|4,280|
|projected
follows:|service cost, together
with a +/- 1y|ear age ratin|g adjustment
to|the mortality
|assumption|is as|
|---|---|---|---|---|---|---|
|||EOOO|EOOO|EOOO|EOOO|EOOO|
|Adjustment|to discount rate|+0.596|+0.1st|0.09'|-0.19'|-0.5%|
||Present value oftotal obligation|2,654|2,805|2,845|2,886|3,058|
||Projected service cost|33|36|37|38|42|
|Adjustment|to long term salary increase|+0.596|+0.1%|0.09S|-0.196|-0.5Y|
|assumptions|||||||
||Present value oftotal obligation|2,877|2,851|2,845|2,839|2,814|
||Projected service cost|37|37|37|37|37|
|Adjustment|to pension
increases and deferred|+0.59'|+0.19'|0.0%|-0.19'|-0.5%|
|revaluation|||||||
|Present value oftotal obligation||3,029|2,880|2,845|2,811|2,681|
|Projected service cost||42|38|37|36|33|
|Adkustment|to life expectancy
assumptions||+1year|None||-1year|
|Present value oftotal obligation|||2,949|2,845||2,745|
|Projected service cost|||38|37||36|
##
##
|The reconciliation
offair value|of|scheme assets is as follows:|scheme assets is as follows:|scheme assets is as follows:||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||6000|EOOO|
|Opening
fair value ofscheme assets||||||4,711|4,314|
|Interest on assets||||||122|86|
|Return on assets less interest||||||(105)|343|
|Other actuarial
gains/(losses)||||||51||
|Administration
expenses||||||(3)|(2)|
|Contributions
by employer
including||unfunded||||41|39|
|Contributions
by fund participants||||||14|13|
|Estimated
benefits paid (net oftransfers|||in and including|unfunded)||(85)|(82)|
|Far value ofscheme assets (bid value)||||||4,746|4,711|
|Asset ceiling adjustment||||||(1,822)|(431)|
|Closing fair value ofscheme assets||||||2,924|4,280|
|The reconciliation
ofscheme assets and liabilities||||is as|Assets|Liabilities|Total|
|follows:|||||EOOO|EOOO|EOOO|
|At 1April 2022|||||4,280|(4,280)||
|Benefits paid|||||(85)|85||
|Employer contributions|||||41||41|
|Fund participant
contributions|||||14|(14)||
|Current service cost||||||(68)|(68)|
|Admimstration
expense|||||(3)||(3)|
|Interest income/(expense)|||||122|(110)|12|
|Experience gain on defined
benefit|obligation|||||91|91|
|Other actuarial
gains/(losses)|||||51||51|
|Re-measurement
gains/(losses)||||||||
|- Change
in financial assumptions||||||1,384|1,384|
|-Change
in demographic
assumptions||||||67|67|
|- Return on plan assets excluding|interest income||||(105)||(105)|
|—Asset ceiling adjustment|||||(1,391)||(1,391)|
|At 31March 2023|||||2,924|(2,845)|79|
##
|||||Land and bwldings|||Other||
|---|---|---|---|---|---|---|---|---|
|Payments|due|||2023|2022|2023||2022|
|||||E|E|E||E|
|Not later|than|one year||||666||555|
|Later than|one year and not later than five years||||||||
|Total||||||666||555|
|Negotiations||with the landlord|continue for the continued|occupation ofthe offices|||||
##
##
##
##
||||||||2022|2021|
|---|---|---|---|---|---|---|---|---|
|||||Notes|Restricted|Unrestricted|Total|Total|
||||||funds|funds|funds|funds|
|Income|||||||||
|Donations
and legacies - Donations||||||48,031|48,031|21,082|
|Income from charitable
activities|||||||||
|- Promoting
good race relations|||||418,902|329,496|748,398|1,237,030|
|- Coronavirus job retention
scheme||||||1,525|1,525|38,676|
|Investment
income||||||36|36|205|
|Total income|||||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 income for the year|||||(68,692)|(618)|(69,310)|116,754|
|Transfer of Funds|||||8,550|(8,550)|||
|Other recognised
gains and losses:|||||||||
|- Re-measurement
ofthe pension||fund net defined||liability|||||
|-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|in|funds|for the||||||
|year|||||(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|