**THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **REPORT AND FINANCIAL STATEMENTS YEAR ENDING 31 MARCH 2021** **Company Registration No. 3340252 (England and Wales) Charity Registration No 1061584** ## **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** |**CONTENTS**|**Page**| |---|---| |Report of the Trustees|1–10| |Independent auditors’ report|11-14| |Statement of financial activities|15| |Balance sheet|16| |Statement of cash flows|17| |Notes to the financial statements|18–22| **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021** ## **Introduction** We are pleased to present the report of the Trustees and financial statements for The Whitehall and Industry Group (WIG), for the year ended 31 March 2021. Legal and administrative information set out on page 8 forms part of this report. The financial statements have been prepared in accordance with current statutory requirements, the Charity’s Memorandum and Articles of Association, FRS 102 and Statement of Recommended Practice for Charities, SORP (second edition, effective 1 January 2019). ## **Our vision** Our vision is to change the way organisations and key individuals think about the challenges they face and embrace the potential of learning from, and collaborating with, other sectors to produce better solutions. In order for our vision to be fulfilled, our aim is to be better recognised and more widely used by government, the private sector, universities and large charities, and seen as the essential membership organisation to engage effectively across the sectors on common challenges. ## **Objectives, public benefit and activities** ## _**Objectives**_ WIG’s charitable purpose is to improve mutual understanding, learning and constructive cooperation between government, industry and the not-for-profit sector. Our members are top FTSE companies and professional services organisations, Whitehall departments, devolved governments, government agencies and local authorities, along with a number of charities and universities. In our three-year strategy 2020-23, we have set out the following five key strategic objectives: - - 1 Rebalance private sector engagement by increasing: - engagement with existing members - membership in key industry sectors - influence through seniority levels - the spread of organisations engaging in leadership programmes - 2 Deliver more value to members - 3 Embed our WIG values, Creative, Open-Minded and Trusted - 4 Improve our operational effectiveness & efficiency and performance measurement - 5 Increased discipline on focused outputs ## _**Public Benefit**_ As Trustees, we confirm that we have complied with the duty in Section 4 of the Charities Act 2006 to have due regard to the Charity Commission’s general guidance on public benefit, “Charities and Public Benefit”. We believe in the fundamental importance of mutual understanding and constructive collaboration between leaders in the public, private and not-for-profit sectors. That is why we provide a safe, trusted and supportive space for individuals and organisations from these sectors to learn from each other in order to deliver a nation better governed, business better informed and, ultimately, a society better served. __________________________________________________________________________________________________ Page 1 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** **REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **Objectives, public benefit and activities – continued** Although we are a membership organisation, we keep our corporate membership fees low to maximise membership so that we have a broad base across all three sectors and from across the UK. The impact of our activities has a wide reach as individuals take back the learning and experience gained from our leadership programmes, placements and events into their organisations within the membership and beyond. ## _**Activities**_ We deliver on our charitable purpose through three main activities: - Events – briefings, workshops, roundtable discussions and networking events; - Talent – non-executive recruitment, secondments, insights and mentoring; - Leadership & Development – leadership programmes, development seminars and organisational ‘raids’. **Events** – our programme of events is on topical subjects of strategic importance to our members particularly focusing on challenges in common, whether global, national or at an organisational level, which are faced by all the sectors. In addition, our professional and special interest networks engage with a broad range of audiences including local authorities, policymakers, regulators, lawyers, heads of HR, learning & development, diversity & inclusion, sustainability, government/public affairs and finance, as well as senior management in general. **Talent** – our talent offering includes secondments, insights, mentoring and a recruitment service for non-executive directors (NED) and trustee roles focused on cross-sector appointments. Our biggest secondment programme is Charity Next, in which we arrange secondments for Civil Service fast-streamers with charities in conjunction with the Cabinet Office. **Leadership** – we run modular leadership programmes for five different levels and communities. We also offer a suite of one-day development seminars, and a bespoke offering of organisational ‘raids’ that enables a group from one organisation to undertake a structured visit to another organisation in a different sector to learn about their approach to a shared challenge. ## **Achievements and performance** Our achievements against our strategic objectives in the year, by each business area, were as follows: - ## _**Membership**_ Our 2020 – 2023 strategy sought a growth in members and an increase in private sector members to maintain the necessary balance in attendance for our offerings. The increase was to be achieved through maintaining our high retention rates which usually sit at between 90% and 92%, and adopting a more proactive and organised business development regime. By the end of March 2020, however, it was clear that the potentially devastating effects of the COVID-19 pandemic meant that the focus for the year would be on retaining members, many of whom were facing considerable financial uncertainty. Through concerted outreach, and demonstrating the considerable benefits of a swiftly developed digital events offering, we maintained 88% of our original membership – losing 20 members but saving another 15 that initially said they wanted to leave. While we did simultaneously manage to bring in 14 new members despite the challenges in the external environment, including Google, Direct Line, Honda and Vodafone, we did nevertheless fall slightly short of our planned membership numbers growth. __________________________________________________________________________________________________ Page 2 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **Achievements and performance – continued** ## _**Events**_ The adoption of digital delivery as a result of the pandemic revolutionised the WIG events and content offer. From April 2020March 2021, the Events and Content team produced 106 virtual briefings and panel discussions, along with 33 senior-level invitation-only roundtables and workshops. These sat alongside several ‘Workings of…’ seminar events, virtual networking sessions, a range of digital content and a D&I (Diversity & Inclusion) conference. In total, the team was responsible for 143 stakeholder engagement activities, which attracted sign-ups of over 21,000, and live participation from over 11,000 people in our member organisations. This compares to around 6,000 participants in the previous financial year where we only produced face-to-face events; the use of digital has led to an increase of 83% in engagement. Our Annual Interview flagship event was witnessed by record numbers (350+ watching live). Not only did the level of engagement improve across the majority of our membership, we also achieved a greater geographical reach to our members based outside London, broadening exposure to the benefit of our charitable purpose. Topics continued to align well with our seven core themes namely trade & international affairs, tech & digital, economic growth & prosperity, society, people, infrastructure, and energy & climate change. Progress was made in the launch of seven core job-specific roundtables for Chief Executives/Permanent Secretaries, CTOs, Directors of Sustainability, Directors of HR, Directors of Communications, Heads of Public Affairs and Chairs/Board members (Governance). There were speakers from every central government department, and a range of representatives from the private, higher education and not-for-profit sector. Although digital delivery has been shown to have very many advantages, it is acknowledged that face-toface interaction, particularly the ability for the membership to connect, did elude us, as it has everyone in this particular year. We found this a particular challenge with the Annual D&I conference when digital delivery did not see the same level of uptake as in previous years. In terms of revenue, there was underperformance on the D&I conference, but an increase in participation in the two ‘Workings of Whitehall’ courses, and with the launch of the ‘Workings of BEIS’ course. These courses benefited from digital delivery as we were able to increase the number of participants. ## _**Talent**_ We successfully placed 26 non-executive directors and trustees this year, including high-profile assignments on behalf of Jersey Audit Office and the Army ARAC. Four of our appointments (15%) were ethnic minority candidates, whilst 10 (38%) were female. Charity Next placed 54 Civil Service fast streamers on secondment into community and purpose-led organisations across the UK, to deliver high-profile, legacy leaving work and solidify long-term, mutually informed connections between the public sector's future leaders and the UK not-for-profit sector. In addition, we helped 27 individuals engage with another sector through brokering a mentor relationship or secondment enabling them to gain experience or establish connections in another sector. ## _**Leadership**_ WIG significantly increased its leadership programme offer during 2020/21 with over 296 leaders participating, a 70% increase on 2019/20. The programmes ranged from early career through to senior level in business and Directors General in the Civil Service. There was a wide spread of organisations represented at all leadership programme levels. We also supported broader organisational development objectives for a select number of members by designing and delivering bespoke leadership programmes for them, benefiting another 217 high potential leaders, a 45% increase from 2019/20. Our one-day development seminars supported over 1,000 participants from across the membership and assisted in developing their skillsets, a 10% __________________________________________________________________________________________________ Page 3 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** **REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **Achievements and performance – continued** increase from last year. We successfully pivoted all our face-to-face offers to engaging online offers and started investigating the best blend of digital and face-to-face delivery going forward. ## _**Marketing**_ The Marketing & Data team at WIG supports all areas of the organisation, from membership engagement and event marketing to the promotion of our leadership programmes and talent services. The team is responsible for WIG’s brand, profile and digital presence. During this financial year, the team has supported the delivery of multi-channel campaigns including membership renewal and our Annual D&I conference, using these as opportunities to test new digital advertising channels to improve our reach and effectiveness. Through such activity, this year we saw a 6% increase in website users (to over 121,000) and a 10% increase in website sessions (nearly 200,000). In order to better support our members moving forward, this year the Marketing & Data team started work on our website redevelopment, due for completion in December 2021. Supported by a project manager, the team led a comprehensive discovery phase and gained insight from a range of sources, including members, to help shape the requirements and design of the new website. The new website will improve the experience of our web visitors and provide greater flexibility for WIG to respond to the needs of our members in a post-pandemic, digital world. This year, there was also focus on building a data culture at WIG. Internal CRM (database) champions were recruited and trained, a regular ‘top tips’ data newsletter was launched for the WIG team, and we are starting to reap the benefits of significant data cleaning efforts with a 20% improvement in email deliverability through better data quality. ## _**Future activity**_ The implications of the COVID-19 pandemic, and both its global effects and consequences, have impacted the objectives set for the first year of our 2020 -2023 strategy as well as the ways and means of delivering the strategy as a whole. Although the mission set out is still fit for purpose, the future financial environment and the fundamental changes in ways of working have required adaptation and some modification. Maintaining and growing member value, rebalancing our membership, increasing our influence and improving our operational effectiveness remain our aims and, in almost all respects, such as the digital agenda, we have progressed far quicker than our strategy. By Q3 of financial year 2021/22, we will have redesigned and launched a new website and established a blended events and development offering. The challenge in the remainder of this year will be to gauge the requirements that sit around an ill-defined ‘new normal’ and prepare the ground for these changes, particularly in learning and development. Nevertheless, indications from financial year 2020/21 suggest that our membership base is solid and reliable enough for us to aspire to further growth. Emerging from the pandemic and the ambitious government policy agenda as well as government reform plans provide a helpful backdrop in increased public and private sector appetite for cooperation. The establishment off contractual arrangements with the prime L&D suppliers to the civil service should add certainty around our development programmes, which have proved reliably popular in the last year. The final stage of reorganisation and the full resourcing of delivery teams means, at the very least, consolidation in some areas but overall a reestablishment of our strategic growth path. __________________________________________________________________________________________________ Page 4 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES - continued THE YEAR ENDED 31 MARCH 2021** ## **Financial review** ## _**Financial position**_ The Charity recorded a deficit of £19,525 during the year (2020: surplus of £32,702). Income decreased by 9% to £2,347,241 (2020: £2,580,511) Direct costs reduced by 28.4% to £439,307 (2020: £614,262) Overhead expenditure decreased by 0.03% to £1,927,460 (2020: £1,933,547). As regards the future financial position, the current reserves indicate that the Charity can continue to operate fully over the next year but the Board will monitor closely as the year progresses and will take whatever actions as are necessary to ensure the continued viability of the Charity. ## _**Reserves policy**_ The Trustees have set a reserves policy for the unrestricted fund which represents funds arising from operating results to date which requires that they be maintained at a level which ensures that the Charity could continue during a period of unforeseen difficulty and that a proportion of reserves be maintained in a readily realisable form, easily converted into cash and designated as net current assets. The Trustees believe that, this level should be a minimum of approximately six months running costs (being employee, premises, office and management and administration costs). They will keep this policy under review. Our free reserves that are represented by net current assets are £1,018,300 representing 5.8 months of our budgeted overhead expense. The Trustees agree that this level is consistent with the reserves policy, acknowledging the decision to make strategic investment in the development of a new website for the benefit of the Charity and its members. The reserves policy has been reviewed by the board in light of the current Covid 19 pandemic, and agreed as appropriate. The total cash at 31 March 2021 was £2,038,207 all of which represents unrestricted funds. The results of the Charity for the year ended 31 March 2021 are set out on page 16. ## **Risk management** The risk assessment and management process is embedded in the general management of the Charity, and the Executive and Trustees regularly review risks which could affect the Charity’s ability to meet its strategic objectives and these are captured in the Risk Register. In particular, the residual impact of the COVID-19 pandemic and its future implications have been assessed and incorporated into the risk assessment. The Risk Register details identified risks against each strategic objective, and the steps taken to mitigate them. The principal risks identified by this process and the plans and strategies in place for managing those risks are detailed in the table below: __________________________________________________________________________________________________ Page 5 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ||**OBJECTIVE**|**RISKS**|**MITIGATION**| |---|---|---|---| |**1**|**Maintain and**
**grow the**
**membership**
**base**|
`o`
Financial pressures on members and prospective
members reduces market for 2021-22 membership
year, membership seen as an easily cut ‘discretionary
spend’
`o`
WIG’s events are not sufficiently interesting or relevant
for new organisations to become members
`o`
WIG’s choice of member benefits and design of events
leads to declining attendance and engagement from
members
`o`
Communications and marketing messages do not land
well leading to members opting out of events or their
membership altogether
`o`
Inability to replicate face-to-face networking in a digital
forum, leading to decline of interest
`o`
Lifting of restrictions leads to a half-way house of some
face-to-face, and some digital, with neither achieving
desired objectives
`o`
No clear understanding of how WIG members will
interact with the offer as restrictions ease. Difficult to
gauge the ‘new normal’|
`o`
Understanding our market particularly in the face of Covid-19
recovery and the role WIG can play
`o`
Concerted effort to ensure enhanced relationship management
with existing members, including adoption of new KPIs and
greater clarity on expectations
`o`
More process driven approach to business development with
proactive targeting of sectors deemed to have ‘grown’
throughout Covid-19
`o`
Constant review and refresh of products, including a greater
focus on senior-level roundtables, and policy discussions to
allow more two-way dialogue and networking
`o`
Review and respond to data on member activity to pick up
issues early
`o`
Develop senior contacts to ensure wider engagement and
endorsement
`o`
React quickly to member interests and changes in topical
interest areas
`o`
Deploy sufficient resource on marketing and business
development
`o`
Greater engagement with government departments, to ensure
we are on the front foot around breaking policy and critical
cross-sector issues
`o`
Use of key contacts and supporters to help in ambition to grow
membership
`o`
Early preparation for the return to face-to-face with fully tested
‘blended’ offer
`o`
Ongoing discussions and survey with members to understand
their appetite in‘new normal’| |**2**|**Ensure we**
**have an**
**engaged**
**team with the**
**skills and**
**capacity**
**needed to**
**deliver our**
**member offer**|
`o`
Culture or environment at WIG does not engage and
motivate staff resulting in reduced performance,
productivity and retention
`o`
Individuals with specific skills, contacts or knowledge
choose to leave, creating a gap which other
employees cannot fill and recruitment is not immediate
`o`
Staff benefits, management or roles are unappealing
leading to high turnover and cost/challenge of
recruitment|
`o`
Continually assess culture and mood and take appropriate
actions to make WIG a great place to work, with particular
focus on well-being during lockdown
`o`
Improve short and longer-term WIG induction programmes
`o`
Focus on ensuring positive development opportunities, using a
wide range of tools and interventions
`o`
Focus on ensuring high standards of consistent line
management
`o`
Ensure cultural values are developed and adopted throughout
WIG, including protecting culture during lockdown| |**3**|**Ensure the**
**safety and**
**comfort of**
**our staff and**
**members in**
**our premises**
**and at even**ts|

`o`
Impact of remote working and the continuing pandemic
situation on staff wellbeing and cultural cohesion leads
to disengagement and lost productivity at a critical time
for the organisation
`o`
H&S issues due to lack of oversight of home working
conditions
`o`
Growth of membership and offer creates new roles
leading to the existing premises becoming too small
`o`
Cost of current property increases leading to disruption
and cost of an office move
`o`
Terrorist attack ,fire or similar event leads to harm to
staff or members or effects delivery and performance|


`o`
Awareness of potential welfare issues, increased
communication and supervision
`o`
Remind staff what is already available (e.g. Employee
Assistance Programme) and ask them what further action
would help with engagement
`o`
Focus on maintaining working relationships and cultural
understanding, and providing opportunities for staff to have fun
together
`o`
5 year lease term in current premises with fixed rent
`o`
Forward planning for any staff growth by exploring flexible
working opportunities
`o`
Ensuring a contingency plan sufficiently covers major incidents
specifically for WIG HQ and event spaces
`o`
Ensuring staff awareness of Contingency/Major Incident
Response is understood - e.g. One pager checklist for teams in
the office in the case of a major incident, and one pager
checklist for teams at an event.
`o`
Training and continual awareness communication about health
and safety at home| __________________________________________________________________________________________________ Page 6 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** **REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **Structure, governance and management** The Board of Trustees, that meets four times a year, administers the Charity in accordance with the Articles of Association and the Charity Governance Code as applicable to the size of the company. Trustees serve for a term of three years and may be appointed for one further term or longer if agreed by the Board; normally posts are advertised on the Charity’s website and are also sent out to member organisations, inviting applications, with appointments being made after interview with the Chairman or delegated Trustee, CEO and at least one other Trustee. Newly appointed Trustees receive a letter of appointment and an induction pack and programme covering various aspects of the Charity’s activities. Since the last AGM, one trustee has resigned and three were appointed, as noted on page 8. The Board has a wide skills base and cross-sector experience. Each Board member is required to declare any interests, directorships or positions which may conflict with any actual or proposed arrangements with the charity. Such interests are reviewed and authorised annually and training needs are assessed and met as required. The Board has two formally-constituted sub-committees, each with specific terms of reference and functions delegated by the Board. Each sub-committee is chaired by a Trustee appointed by the Board. The Remuneration & Governance Committee is responsible for reviewing and approving the Charity’s Human Resources (HR) policies and associated policies and monitoring their implementation as well as approving remuneration policy and key remuneration decisions. It also ensures the appropriate governance of WIG. During the year, the Charity has adopted a new Governance and Performance Code and will be working continuously to refine this as well as ensuring its implementation. The Finance & Risk Committee oversees all financial aspects of the Charity, including budgets, forecasts and reserves policy, and monitors performance against them. It approves the presentation of financial information, and reviews the audited financial statements of the Charity and recommends them to the Board. It reviews reports from the auditors and reviews their performance every three years. The Committee also reviews formally all risk issues relevant to the Charity twice a year. The Chief Executive is appointed by the Trustees to manage the day-to-day operations of the Charity and attends by invitation, along with the Chief Operating Officer, both the Board and the Finance & Risk Committee meetings. The Chief Operating Officer and Head of Finance, when established, will also attend the Finance and Risk Committee by invitation. The Chief Executive attends, by invitation, the Remuneration & Governance Committee, along with the Chief Operating Officer, and the Office Manager who has responsibility for day-to-day HR matters. __________________________________________________________________________________________________ Page 7 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** **REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **Reference and administrative details** ## **Status** The Whitehall and Industry Group is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association dated 20 March 1997 (as amended 18 November 2009 and 16 February 2011.) Known also as WIG. ## **Charity number** 1061584 **Company number** 3340252 ## **Directors and Trustees** The directors of the charitable company (the Charity) are its trustees for the purpose of charity law. The trustees serving during the year and since the year-end were as follows: Phil Thomson – Chairman Debbie Alder (resigned Nov 2020) Eleanor Kelly David Dinsdale Janette Durbin Rachel Sandby-Thomas Bernadette Kelly Keith Mendez David Walker Neil Bentley-Gockmann (Appointed Oct 2020) Charu Gorasia (Appointed Mar 2021) Kate Stephens (Appointed Oct 2020) ## **Directors and Trustees** Phil Thomson and Rachel Sandby-Thomas retire by rotation, and being eligible, offer themselves for re-election. Debbie Alder is also retiring having completed a second term in office, and is not seeking re-election. **Chief Executive** Simon Ancona **Company Secretary** Adrian Bannington FCA, C.Dir, FIOD. Cert CII (retired on medical grounds, relinquished role June 2021) . Dr Alexandra Cran-McGreehin took on this role from June 2021. **Registered office** 80 Petty France, London, SW1H 9EX **Independent Auditors** Saffery Champness LLP, 71 Queen Victoria Street, London, EC4V 4BE **Solicitors** Bates Wells & Braithwaite London LLP, 10 Queen Street Place, London, WC4R 1BE __________________________________________________________________________________________________ Page 8 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **Other disclosures** ## _**Fundraising**_ The trustees take their responsibilities under the Charities (Protection and Social Investment) Act 2016 seriously and have considered the implications for their activities. The charity does not actively fundraise and therefore the trustees do not consider it necessary to have a formal fundraising policy in place. ## _**Remuneration Policy**_ In line with the National Council for Voluntary Organisations report on charity remuneration, we explain WIG’s policy on remuneration. WIG aims to remunerate its staff comparably to organisations based in London of similar size and operating model. We do not seek to be competitive with any specific sector. Pay is reviewed annually, and any pay increases take into account WIG’s financial performance. No individual performance-related bonuses are paid; a flat rate annual discretionary supplemental payment for which all staff are eligible may be paid if justified by WIG’s performance. In 2020/21, WIG contributed 5% towards employee pensions. Pay for WIG’s senior staff is set out in Note 6. ## **Trustees’ responsibilities in relation to the financial statements** The trustees (who are also directors of WIG for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP (FRS 102); - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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. __________________________________________________________________________________________________ Page 9 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2021** ## **Trustees’ responsibilities in relation to the financial statements - continued** In so far as the trustees are aware: - there is no relevant audit information of which the charitable company’s auditor is unaware; and - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## **Auditors** The Company has by elective resolution dispensed with the obligation to appoint auditors annually in accordance with Section 487(2) of the Companies Act 2006. The auditors, Saffery Champness LLP, will be considered, amongst others, for reappointment for future financial years. This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. By order of the board Phil Thomson Chairman Date: 1 November 2021 __________________________________________________________________________________________________ Page 10 ## **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS** ## **Opinion** We have audited the financial statements of The Whitehall and Industry Group for the year ended 31 March 2021 which comprise statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the charitable company’s state of affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. __________________________________________________________________________________________________ Page 11 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS - continued** Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the Trustees’ Annual Report which includes the Directors’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Trustees’ Annual Report which includes the Directors’ Report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies exemption in preparing the Trustees’ Annual Report and the Strategic Report. ## **Responsibilities of trustees** As explained more fully in the Trustees’ Responsibilities Statement set out on pages 9-10, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so. ## **Auditor’s responsibilities for the audit of the financial statements** We have been appointed as auditors under the Companies Act 2006 and report in accordance with that Act. __________________________________________________________________________________________________ Page 12 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS - continued** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below. ## Identifying and assessing risks related to irregularities: We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates. Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales. ## Audit response to risks identified: We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance. During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve noncompliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of noncompliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report. __________________________________________________________________________________________________ Page 13 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS - continued** ## **Use of our report** This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. Timothy Gregory (Senior Statutory Auditor) for and on behalf of Saffery Champness LLP 71 Queen Victoria Street Chartered Accountants London Statutory Auditors EC4V 4BE 9 November 2021 Date: Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 __________________________________________________________________________________________________ Page 14 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2021** |**Note**
**Income from charitable activities:**
Members’ subscriptions
Events
Talent
Leadership programmes
Other income
Total income from charitable activities
Investment income:
Bank Interest
Total incoming resources
**Expenditure on Charitable activities:**
**2**
Membership services
Events
Talent
Leadership
Total expenditure
Net (expenditure) / income and net movement in funds
Unrestricted Fund balance brought forward at 1 April 2020
Unrestricted Fund balance carried forward at 31 March 2021|**2021**
**£**
1,076,939
58,468
242,766
966,619
480
________
2,345,272
1,970
________
2,347,242
________
449,903
594,175
379,440
946,249
________
2,366,767
________
(19,525)
1,138,257
**________**
1,118,732
**________**|**2020**
**£**
1,093,865
108,634
264,629
1,109,959
-
________
2,577,087
3,424
________
2,580,511
________
408,778
792,270
271,215
1,075,546
________
2,547,809
________
32,702
1,105,555
**________**
1,138,257
**________**| |---|---|---| The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations. All recognised gains and losses are shown in the Statement of Financial Activities. The notes on pages 18 to 22 form part of these financial statements. All funds are unrestricted. __________________________________________________________________________________________________ Page 15 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** **Company no 3340252** ## **BALANCE SHEET AT 31 MARCH 2021** ||**Note**||**2021**||**2020**| |---|---|---|---|---|---| |||**£**|**£**|**£**|
**£**| |**Fixed assets**|||||| |Tangible assets|**8**||100,432||133,427| |**Current assets**|||||| |Debtors|**9**|963,188||1,069,822|| |Cash at bank and in hand|**1.12**|2,038,207||1,971,673|| |||________||________|| |||3,001,395||3,041,495|| |||________||________|| |**Current liabilities**|||||| |Creditors: Amounts falling due within one year:|||||| |Creditors and accrued charges|**10**|505,385||453,668|| |Deferred income|**10**|1,477,710||1,582,997|| |||________||________|| |||1,983,095||2,036,665|| |||________||________|| |**Net current assets**|||1,018,300||1,004,830| ||||________||________| |**Total assets less current liabilities**|||1,118,732||1,138,257| ||||**____ ___**||**____ ___**| |**Unrestricted fund**|||1,118,732||1,138,257| ||||**____ ___**||**____ ___**| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. The notes on pages 18 to 22 form part of these financial statements. The financial statements on pages 15 to 22 were approved by the directors and signed on their behalf on 1 November 2021 by: Phil Thomson Chairman **----- Start of picture text -----**
………………………….
**----- End of picture text -----**
…………………………. Eleanor Kelly Trustee __________________________________________________________________________________________________ Page 16 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021** |**Note**
**Net cash (used in)/provided by operating activities**
**Note 1 below**
**Cash flows from investing activities**
Purchase of tangible fixed assets
**8**

Net cash provided by (used in) investing activities
**Cash flows from financing activities**
Investment income
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period

Change in reporting period

Cash and cash equivalents at the end of the reporting period**Note 2 below**
**Notes to the Statement of Cash Flows**
**1.**
**Operating activities**
Net (expenditure) / income for the reporting period
Adjustments for:
Depreciation charges
Decrease/(increase) in debtors
(Decrease)/increase in creditors

Investment income
Net cash provided by operating activities
**2.**
**Analysis of cash and cash equivalents**
**11**
Cash at bank and in hand
Short term deposits|





**_**|**2021**
**£**
64,564
-

______
-
1,970
______
66,534
**______**
1,971,673
66,534
________
2,038,207
**________**
(19,525)
32,995
106,633
(53,569)
(1,970)
_______
64,564
**_______**
234,181
1,804,026
________
2,038,207
**________**|



|**2020**
**£**
452,774
11,094
_____
( 11,094)
3,424
_______
445,104
**______**
1,526,569
445,104
________
1,971,673
**________**
32,702
46,552
279,339
97,605
(3,424)
______
452,774
**_____ **
81,652
1,890,021
________
1,971,673
**_________**| |---|---|---|---|---| __________________________________________________________________________________________________ Page 17 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** **1. Accounting policies** ## **1.1 Status** The charity is a public benefit entity as defined by FRS102. ## **1.2 Basis of accounting** The financial statements have been prepared on a going concern basis under the historical cost convention and comply with the Companies Act 2006. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) second edition and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound sterling. The principal accounting policies adopted are set out below. ## **1.3 Going concern** After reviewing the charity’s forecasts and projections, particularly in light of the impact of the current Covid 19 pandemic, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing the financial statements. ## **1.4 Limited by guarantee** The Company does not have a share capital, but its liability is limited by the guarantees of its Trustee members. Each Trustee member has agreed to accept liability not exceeding £1 should the Company be wound up. At 31 March 2021, the total of such guarantees amounts to £10 (2020 - £10) ## **1.5 Income from Charitable activities** Membership income, and Events, Talent and Leadership Programme income are included in the year they are receivable. Income that relates to future periods is carried forward. Accrued bank interest is included in respect to interest earned on long term deposits which mature after the year end. ## **1.6 Expenditure on Charitable activities** All expenditure is included on an accruals basis and has been classified under appropriate headings in the accounts. Charitable activities expenditure including staff and other direct costs enables WIG to meet its aims and objectives. Support costs are those costs which enable charitable activities to be undertaken. These costs include premises, communications, HR, IT, governance and general administration and management costs. Staff costs have been apportioned over the various charitable activities on the basis of time spent. Direct costs are allocated on an actual basis. All other overheads are allocated among expense headings on the basis of time spent. ## **1.7 Retirement benefits** The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the Statement of Financial Activities in the year they are payable. ## **1.8 Operating Leases** Rentals payable under operating leases are charged against income on a straight line basis over the term of the lease. __________________________________________________________________________________________________ Page 18 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **1.9 Depreciation** Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on a straight line basis over the expected useful economic lives of the assets concerned. The annual rates generally used for this purpose are: |Leasehold Improvements|20.0%| |---|---| |Office equipment|33.33%| |Furniture, fixtures and fittings|10.0%| ## **1.10 Key assumptions of material relevance to the Financial statements** There were no material assumptions made concerning uncertainties which could lead to a material adjustment of assets and liabilities within the next reporting period. ## **1.11 Financial Instruments** The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. The charity did not have any bank loans during the year. ## **1.12 Cash at bank and in hand** Includes all cash, current accounts, short and long term deposit accounts and treasury deposit accounts which can all be made available in the short term. ## **2. Expenditure on Charitable activities** |**Membership services**
**Events**
**Talent**
**Leadership Programmes**
**Total expenditure**
**Membership services**
**Events**
**Talent**
**Leadership Programmes**
**Total expenditure**|**_**|**Total**
**Employee**
**2021**
**Costs**
**£**
**£**
446,903
205,765
594,175
271,217
379,440
174,107
946,249
236,360
**________**
**_______**
**2,366,767**
**887,449**
**________**
**_______**
**Total**
**Employee**
**2020**
**Costs**
**£**
**£**
408,778
183,744
792,270
341,581
271,215
120,732
1,075,546
223,064
**________**
**_______**
**2,547,809**
**869,121**
**________**
**_______**|**Direct Support Costs**
**Costs**
**(Note 3)**
**£**
**£**
-
241,138
5,116
317,842
1,295
204,038
432,896
276,993
**_______**
**_______**
**439,307**
**1,040,011**
**_______**
**________**
**Direct Support Costs**
**Costs**
**(Note 3)**
**£**
**£**
-
225,034
32,349
418,340
2,621
147,862
579,292
273,190
**_______**
**_______**
**614,262**
**1,064,426**
**_______**
**________**| |---|---|---|---| __________________________________________________________________________________________________ Page 19 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **3. Analysis of support costs** |
**Membership**
**Events**
**Talent**
**Leadership**
**Total 2021**

**Membership**
**Events**
**Talent**
**Leadership**
**Total 2020**|**Premises**
**Communication**
**IT &**
**Equipment**
**Financial**
**Management**
**& Admin**
27,262
42,790
55,937
26,901
24,246
35,933
56,401
73,731
35,458
31,958
23,067
36,207
47,331
22,762
20,515
31,315
49,152
64,255
30,901
27,851
**________**
**________**
**________**
**________**
**________**
**117,577**
**______**
**184,550**
**______**
**241,254**
**______**
**116,022**
**______**
**104,570**
**______**
**Premises**
**Communication**
**IT &**
**Equipment**
**Financial**
**Management**
**& Admin**
21,951
47,711
39,394
21,091
34,471
40,806
88,694
73,233
39,210
64,081
14,423
31,349
25,884
13,859
22,649
26,648
57,920
47,824
25,606
41,847
**________**
**________**
**________**
**________**
**________**
**103,828**
**______**
**225,674**
**______**
**186,335**
**______**
**99,766**
**______**
**163,048**
**______**|**HR**
**Governance**
26,101
30,251
34,404
39,874
22,086
25,597
29,982
34,748
**______**
**________**
**112,573**
**_____**
**130,470**
**______**
**HR**
**Governance**
23,812
26,763
44,267
49,752
15,646
17,585
28,908
32,490
**______**
**________**
**112,633**
**_____**
**126,590**
**______**|**Dep’n**
7,650
10,084
6,473
8,788
**________**
**32,995**
**______**
**Dep’n**
9,841
18,297
6,467
11,947
**________**
**46,552**
**______**|**Total**
**241,138**
**317,843**
**204,038**
**276,992**
**________**
**1,040,011**
**______**| |---|---|---|---|---| |||||**Total**
**225,034**
**418,340**
**147,862**
**273,190**
**________**
**1,064,426**
**______**| Support costs consist of direct costs of £545,578 (2020: £575,182) and salary costs of £506,486 (2020: £489,245). Both are allocated on the basis of direct staff costs but this does not necessarily provide a fair assessment of profitability by activity. Premises include Operating Lease and service charge costs of Land & Buildings £114,924 (2020: £89,964). ## **4. Operating (Loss)/Profit** Net expenditure/income and net movement in Funds during the year is stated after charging: |Depreciation of tangible assets
Operating lease rentals
Auditors’ remuneration
-
Audit fees for current year audit|**2021**
**£**
32,995
58,311
7,000
**_____ __**|**2020**
**£**
46,552
66,250
5,550
**_______**| |---|---|---| ## **5. Taxation** As a registered charity, The Whitehall and Industry Group is not liable to corporation tax on its wholly charitable activities. ## **6. Employees** |**Employees**||| |---|---|---| ||**2021**|**2020**| ||**£**|**£**| |Employee costs during the year were||| |Salaries|1,216,830|1,186,985| |Social Security|133,982|127,377| |Pension|43,122|44,003| ||________|_______| ||1,393,934|1,358,365| ||**_______**|**_______**| __________________________________________________________________________________________________ Page 20 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** ## **6. Employees (cont.)** ||**2021**|**2020**| |---|---|---| ||**£**|**£**| |Employee costs allocated to direct charitable purposes|887,449|869,120| |Employee costs allocated to support activities|506,486|489,245| The average monthly number of employees during the year was 27 including part time employees (2020: 26). The number of employees whose remuneration (including salary and benefits) fell in the following ranges was: ||**2021**|**2020**| |---|---|---| |£140,000 to £150,000|1|1| |£90,000 to £100,000|-|2| |£80,000 to £90,000|-|-| |£70,000 to £80,000|2|-| |£60,000 to £70,000|3|
4| Total remuneration, including pension contributions, of key management personnel in the period was £286,481 (2020: £333,200). ## **Trustees remuneration** No expenses were paid to the trustees during the year (2020: £10). ## **7. Retirement benefit schemes** Defined contribution schemes The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The charge to profit and loss in respect of defined contribution schemes was £44,003 (2020: £32,102). **8. Tangible fixed assets** |**8. Tangible fixed assets**||||| |---|---|---|---|---| ||**Leasehold**|**Furniture Fixtures**|**Office**|| ||**Improvements**|**and Fittings**|**equipment**|**Total**| |**Cost**|**£**|**£**|**£**|**£**| |At 1 April 2020|95,016|56,999|70,863|222,878| |Additions|-|-|-|-| |Disposals|-|-|-|-| ||_______|_______|_______|_______| |At 31 March 2021|95,016|56,999|70,863|222,878| ||_______|_______|_______|_______| |**Depreciation**||||| |At 1 April 2020|25,337|7,600|56,514|89,451| |Charge for the year|19,003|5,700|8,292|32,995| ||_______|_______|_______|_______| |At 31 March 2021|44,340|13,300|64,806|122,446| ||_______|_______|_______|_______| |**Net book value**||||| |At 31 March 2021|50,676|43,699|6,057|100,432| ||**______**|**______**|**______**|**______**| |At 31 March 2020|69,679|49,399|14,349|133,427| ||**______**|**______**|**______**|**______**| __________________________________________________________________________________________________ Page 21 **THE WHITEHALL AND INDUSTRY GROUP (A COMPANY LIMITED BY GUARANTEE)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021** |**9. Debtors**
Trade debtors
Other debtors
Prepayments and accrued income
**10. Creditors**
Trade creditors
Other taxation and social security costs
Accruals and deferred income
Other creditors
**Movement in deferred income**
Included within accruals and deferred income:
At 1 April 2020
Invoiced during year
Released to Income and Expenditure Account
At 31 March 2021
**11. Analysis of changes in net debt**
Cash
Cash equivalents
**Total**|(
**At start**

**of year**
1,771,673
200,000
**________**

1,971,673

|**2021**
**£**
878,716
-
84,472
**________**
963,188
**_____ __**
**2021**
**£**
82,586
274,606
1,611,053
14,850
**________**
1,983,095
**____ ___**
**2021**
**£**
1,582,997
1,962,332
2,067,619)
**________**
1,477,710
**________**
**Cash flow**
66,534
-
**________**
66,534
|**2020**
**£**
971,304
6,644
91,874
**________**
1,069,822
**________**
**2020**
**£**
67,347
311,910
1,657,408
-
**________**
2,036,665
**_______**
**2020**
**£**
1,393,366
1,582,997
(1,393,366)
**________**
1,582,997
**________**
**At end**
**of year**
1,838,207
200,000
**________**
2,038,207
| |---|---|---|---| ## **12. Lease commitments** At 31 March 2021, the Charity had outstanding commitments for future minimum payments under a non-cancellable operating lease as follows: |
operating lease as follows:||| |---|---|---| ||**2021**|**2020**| |**Land and buildings**|**£**|**£**| |Under 1 year|80,000|76,250| |2 – 5 years|140,000|220,000| |Over 5 years|nil|nil| ||**______**|**______**| ## **13. Related party transactions** There were no related party transactions during the year (2020: none). __________________________________________________________________________________________________ Page 22