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2023-12-31-accounts

THE RUNNYMEDE TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS

2023

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TRUSTEES' REPORT

CONTENTS

Trustees' annual report (incorporating the Directors' report) 03
Strategic report 10
Reference and administrative details 34
Independent auditor's report to the members 35
Statement of financial activities 40
Statement of financial position 41
Statement of cash flows 42
Notes to the financial statements 43

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TRUSTEES' REPORT

2023

TRUSTEES' ANNUAL REPORT

(INCORPORATING THE DIRECTORS' REPORT)

The trustees, who are also the directors for the purposes of company law, present their report with the financial statements of The Runnymede Trust (Runnymede) for the year ended 31st December 2023.

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CHAIR'S OVERVIEW

Dear Friends,

We are pleased to present the Runnymede Trust Annual Report 2023.

The Trust has worked on a number of important projects and contributed to a wide range of policy spaces this year. Whilst the noise around the cost of living crisis may have receded, we know that the structural inequalities that have been exacerbated by years of austerity and then compounded by the Covid19 health pandemic, are by no means in decline. In this context the Trust has relied on its expanded strength and refreshed organisational structures to ensure that we are able to champion the needs and interests of the communities we serve and to push for policies that offer a more prosperous and healthy society for us all.

That approach is one that has seen us take our work on education, policing and criminal justice, health and labour markets out to much broader audiences. The team is very proud of the projects and impacts outlined in this Report, and the way that we have optimised our partnerships to deliver meaningful outputs in terms of reports, policy influencing and engagement activities.

We have taken on a number of new projects this year and worked collaboratively with organisations across the social justice sector to make sure that we build networks of influence and extended impact

During the first quarter of the year, our CEO Halima Begum sadly announced that she was moving on but we were fortunate to be able to recruit our interim leadership from within the organisation by appointing Dr Shabna Begum and Laurence Jay as interim co-CEOs. With the support of the wider leadership team, the Trust has been stable and indeed flourished. We have developed a distinctive voice and position that coheres across all projects, making sure that the broad vision for racial justice is anchored to advocating for structural transformation.

That thinking has enabled us to keep a good reactive profile, offering quick response to emerging issues. We spoke on everything from migration to money, from education to environment and from Prevent Duty to policing. In the difficult context of events in Israel and Gaza, the Trust made some careful and considered

interventions around the right to protest and rising levels of antisemitism and Islamophobia. Those and wider contributions - whether as voices in the media or through conference and round table participation have helped us to keep attention to racial justice issues where they may otherwise have been neglected or misunderstood.

Our position has been particularly valuable and important in a wider political context where there is a burgeoning reliance on thin diversity and inclusion policies which give the appearance of change but fail to improve material and political conditions. At the same time we have also seen the resurgence of toxic ‘culture wars’ narratives and an aggressive agenda that seeks to block even the most modest of change. In that context, our respected presence has been critical in tethering the conversation to an evidence based programme.

This year also marks the end of my time with Runnymede, which now dates back more than two decades as a trustee and 15 years as Chairman. Good governance and my growing age demands that I step down, but I have to confess I will miss my close involvement with the Trust, such a vital force for good in modern Britain with its commitment and belief in justice, true diversity and equality. The UK would be a poorer place without Runnymede.

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I have worked with four Directors and three interim Directors in my time and every one of them brought passion, commitment and flair to the charity. I will always be in their debt. I pay tribute to every trustee and every member of the Runnymede staff I have worked with over the years and thank them for their steadfast belief in social justice and racial equality. I have formed friendships that I will always cherish and will continue.

My particular thanks to Dr Shabna Begum for her careful and inspirational leadership of Runnymede over my last six months and to Dame Donna Kinnair for agreeing to become the new Chair of Runnymede. I could not leave the most important social justice charity and race equalities think tank in the UK in safer hands.

I wish I was leaving the Trust knowing that racism in modern day Britain was a thing of the past and we could celebrate that we lived in a country that championed diversity and understood the complex nature of the injustice across a world that is forcing truly desperate asylum seekers to risk their lives in leaking rubber boats on hostile seas, sadly I cannot.

I know that I live in a much more inclusive and diverse Britain than when I joined the board of Runnymede in 2002 and I truly welcome and delight in that, but there is a lot more to do, understand and embrace.

We will get there and I am happy to quote Dr Martin Luther King Jr:

We shall overcome because the arc of the moral universe is long, but it bends towards justice.

Sincerely, and with our thanks,

Sir Clive Jones, CBE, Chair of Runnymede Trust

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ABOUT US

The Runnymede Trust was founded in 1968, the year of Martin Luther King’s assassination and Enoch Powell’s ‘Rivers of Blood’ speech. For more than 50 years we have worked tirelessly to build a Britain in which we all belong.

Our work is rooted in challenging structural racism and its impact on our communities. Our authoritative research-based policy interventions equip decision makers, practitioners and citizens with the knowledge and tools to deliver genuine progress towards racial equality in Britain.

OUR APPROACH

Research Research: We produce reliable and impartial evidence on racial inequalities in the UK, which is used to challenge systemic racism and barriers to opportunity across society.

Influence: Influence: We use the evidence we generate to inform decision makers and the wider public of how we can dismantle structural barriers and build a Britain in which we all belong.

Collaboration Collaboration: We believe in working collaboratively with grassroots organisations, policy makers, academics, thought leaders, businesses, and our public services to effectively challenge racial injustice. Through our partnerships we can amplify our voice and those around us and create change on a scale impossible for us alone.

Production Production: We create more than research reports. Our educational assets, policy briefings, stories and public engagement pieces provide the tools with which to challenge racial injustice.

OBJECTIVES & AIMS

Runnymede is a social policy research organisation focused on race equality and race relations. Our object is to promote racial harmony, equality and diversity through research, discussion, influencing and engagement. At any time there are many challenges to and solutions for race equality and good race relations and so Runnymede has to select those which are most urgent, important, susceptible to change and to which our own competencies are relevant.

The objects for which the Charity is established are for the public benefit to promote:

By teaching, lecturing or otherwise, studies in political, economic, social and natural sciences, the humanities and other subjects or disciplines suitable for education.

Racial harmony, equality and diversity including (without limitation) by:

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PUBLIC BENEFIT

The Runnymede Trust operates for public benefit and general charitable purposes according to the laws of England and Wales.

The trustees confirm that they have referred to the information contained in the Charity Commission’s general guidance on public benefit when reviewing The Runnymede Trust’s aims and objectives, and in planning activities and setting policies for the year ahead.

This report outlines how our achievements and performance during 2023 have contributed to the furtherance of our charitable purposes.

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TRUSTEES' REPORT

2023

STRATEGIC REPORT

The following sections form the strategic report of the charity.

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ACHIEVEMENTS & PERFORMANCE

We began 2023 with a wide portfolio of projects which continued to further some of the key objectives we had from the previous year and with developing plans for new streams of work. Despite challenges that related mainly to the announcement of the CEO, Halima Begum, moving on to a new position, we were able to secure interim executive leadership from within the existing team and managed to operate without significant disruption to projects or objectives.

The following is a summary of how we performed against the priorities we had set out.

continuing to develop strategic collaborations with org anisations around specific pieces of work

How we did: We welcomed the opportunity to return to in-person events and held a number of events through the APPG including, ‘Race, Elections and Political Participation, which looked at impacts of Voter ID, ‘Re-imaging Justice’ which examined the racial disproportionality present in policing and charging and judicial decisions and ‘Unearthing Invisible Seafaring Histories of Empire, Britishness and Belonging’,

1: Develop political support and win system policy change:

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which linked to our broader work on community histories and migration. There are a number of rule changes that the House of Commons Committee on Standards is bringing in which pose a threat to the viability of smaller APPGs like Race and Community - and we remain in active discussion with Clive Lewis MP and the Commissioners to make sure that those threats are mitigated.

Through our Racial Justice Priorities for Britain, we worked to review and collate our policies on our core domains of influence, working with a range of stakeholders and allies to ensure that these were sound and supportive of wider progressive agendas. This paper provides a strong backbone to our policy influencing and supports efficient crossfunctional working with the communications team, as issues emerge, and responses have to be generated.

Child Poverty Action Group and Oxfam on a child poverty briefing were important interventions in policy conversations, supported by collaborative working. The plans around developing integrated working across policy and engagement were less advanced during the year due to the resignation of the Head of Engagement and deferred recruitment for that role.

2: Expand and widen our reach and increase public engagement

We have also worked collaboratively when opportunities for maximising our voice have presented themselves, for instance rallying a cross-sector response to the ‘New Met for London’ plan. This along with other opportunities to work together with other organisations like Share Action on a policy briefing on Ethnicity Pay Gap reporting, and with Womens Budget Group,

How we did: All new project proposals and plans are now written with an engagement and impact strategy. We have developed a system by which new proposals are led by a member of the leadership team - and where that might routinely start with the Head of Research, we itemise and cost for engagement activity as part of the project.

The Lit in Colour programme has continued to advance our education engagement work with the Pearson Pioneers programme which is actively working in schools and the Lit in Colour teachers conference.

The Visualise project on art education ran behind schedule and though completed in terms of report writing, will only progress engagement activity in the next year.

We successfully partnered with the LSE Inequalities team to deliver ‘Building Bridges’ which engaged cross-sectoral groups in conversations around the hostile environment, policing, and the costof-living crisis.

The resignation of our Head of Engagement towards the first part of the year did stall plans for enlarging beyond our traditional engagement work into more youth-focused events and the digital and communicationsbased work that we had conceived. The decision was taken to reassess the remit of the role and the necessity of taking our time with these conversations meant that it was not until November 2023 that we recruited a new Head of Engagement who started with us in January 2024, and is now tasked with taking some of these initiatives forward.

3: Produce and coordinate highimpact research

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research methods in order to reach communities that are excluded by traditional research methods

How we did: We have funded quantitative research skills training for colleagues and created opportunities within projects for these skills to be applied and developed. Through recruitment we screened for data analysis skills and used this emerging capacity to help produce analytical outputs related to gender pay gaps and autumn budget announcement and the census. Through projects related to flexible working and

housing tenure we have begun to deploy more participatory action methodologies and have plans for further application of these methods in current projects.

We developed our academic partnerships and published two reports including ‘Against SVROs’ and ‘Creating a Crisis’ in partnership with scholars working in areas that we hope to develop our expertise. We are also reviving the ‘Runnymede Perspectives’ series and are in discussion with several academics around themes that include AI and Islamophobia.

Project planning protocols are considerably more systematised, and all new proposals include oversight across all team leaders to ensure that all aspects of a project pipeline are fully discussed. The work around sign-off processes and quality assurance are in draft form and is one of the key objectives for the Head of Research in 2024.

4: Increase the influence and impact of the organisation and its supporters

How we did: This year we have extended partnerships with several academic institutions like Queens University Belfast on the Geographies of Ethnic Diversity and Inequalities project and Loughborough University on their Mixed heritage project. We have also strengthened relationships with organisations like Community Empowerment Network and Crisis, where we have extended our influence and impact directly - but also by being supportive members of wider coalitions like Homes for Us, led by New Economics Foundation. We decided not to pursue the ambassador programme due to a decision that contracting ‘Runnymede Ambassadors’ in a generic sense did not align with the way we worked and that it was preferable to work to create spokespeople from the communities that are impacted by the issues we work on. The branding and website has been supplemented with an additional album of photographs that was commissioned to help support visual outputs, but further work in terms of rebrand is outstanding.

We secured a small grant from Joseph Rowntree Charitable Trust to help us review our fundraising strategy and one aspect of the report that we have commissioned is to develop our ability to increase income from individual donors.

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5: Build the organisation for future success and resilience

How we did: We have worked hard as a leadership team to ensure that all new and developing proposals are costed in a way that recognises all direct and indirect costs of emergent projects. This additional planning is supported by reporting and controls that are now well embedded and there is developing financial responsibility across the leadership team. We now have enough financial maturity to analyse our performance effectively and allow this to impact our long-term strategies. We have begun the journey to achieve

distributed financial accountability and will continue to work on this strand as the staff team develops and matures.

During the year we implemented a new Customer Relationship Management (CRM) system - Beacon and have successfully migrated organisational information to it. This now stands alongside our Project Management System (Asana) and will allow us to be more proactive in our external relationships as we seek to expand our engagement function. Although both systems are operational, more work is needed to embed them as default digital systems that support our work consistently across all teams and projects. This delay in progress is partly due to Operations Director capacity being directed to the interim-CEO, but it is an ongoing process.

All our existing core funders have kindly given grants that have run through 2023 and into 2024.

We also secured the Power to Prosper grant in collaboration with the New Economics Foundation and is integral to supporting us over the next 2.5 years. In addition, we undertook additional pieces of Consultancy work with Barnardo’s, The Health Foundation and Timewise Foundation. As per the difficult fundraising landscape we have struggled to gain corporate donations, however we did grow our individual gifts and will look to develop this further now we have an accurate CRM system. We attempted to recruit a fundraising manager to develop all of these streams but were unsuccessful. We have instead partnered with a consultant who is currently conducting an audit of our existing fundraising capacity and will report back to enable a more strategic approach to optimising our fundraising and income generation.

During the year we implemented an updated pay and progression framework and an updated performance and development process. We created new line management and support structures with a view to ensuring staff are supported in an appropriate way following a period of organisational growth. We also updated our recruitment and onboarding processes and used our regular staff away days to collect feedback and listen. We have more work to do in this regard recognising the need to create development opportunities in a relatively small organisation.

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OUR WORK IN 2023

Dear Stephen

In the lead up to the 30th anniversary of the murder of Stephen Lawrence, we made produced a short research report in collaboration with Stephen Lawrence Day Foundation. The aim was to mark the 30 years that have passed since Stephen’s murder and to offer a short report that both highlights the injustices that persist and require our continued attention, but to also trace the hope and ambition for something better.

In 'Dear Stephen', we revealed the points of hope and connection in our communities, at a time when the UK feels increasingly polarised. Using data from the British Social Attitudes Survey we showed that although people feel the world around them is becoming more hateful and prejudiced, people’s own attitudes are shifting in a much more positive trajectory, and that race, inclusion and belonging are not such divisive issues as we are led to believe.

Against SVROs

Serious Violence Reduction Orders (SVROs) are a new police stop and search power, being piloted by forces in England and Wales. In Against SVROs we outlined a vision that moves beyond endless cycles of punitive state interventions, towards new institutions, organisations, and networks of mutual care and support, that enable working-class communities of colour to have meaningful control and selfdetermination in the production of security, safety, and human flourishing.

Ethnicity Pay Gap

We produced a research and policy collaboration with ShareAction supporting the case for ethnicity pay gap (EPG) reporting. This culminated in a roundtable discussion in parliament, organised by our policy team. This was hosted by Anneliese Dodd’s office and chaired by Yasmin Qureshi MP, and involved over 20 FTSE and stakeholder organisation representatives, where our research was shared and the case for mandatory EPG reporting was progressed. This policy briefing set out recommendations to the Government to meaningfully roll out mandatory EPG reporting and addresses key concerns that are posed as barriers.

Racial Justice priorities for Britain

At a time when transformative change has never been more urgent, we outlined our policy agenda for racial justice in Britain. In “Priorities for racial justice in Britain”, we make close to 50 targeted policy recommendations which challenge embedded racial inequalities in areas including education, health, employment, policing, climate, and civil rights. Central to these policy priorities is our assertion that issues of racial justice should not be siloed or used as political tools for division, and that any meaningful efforts to tackle disparities must take a whole systems approach. We invited MPs from all political parties to engage with us on the briefing, and have briefed Lib Dem, Green and Labour leaderships on our priorities for 2024.

Climate Inquiry

As secretariat of the APPG Race and Community and in partnership with the APPG Green New Deal we have held an inquiry on ‘Racism and the Environmental Emergency’. This inquiry acts to bring the voices of the communities of colour most affected by the environmental emergency into parliament, with the aim of creating better, more inclusive, and intersectional environmental policy in the UK. We aim to give space to environmental professionals, activists, and leaders of colour from both the global North and the global South to speak and discuss their narratives and

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experiences of the environmental emergency with key UK policymakers. The Inquiry is due to conclude in 2024 and a report will have been published with specific policy recommendations, in March 2024. Our staff team continues to support high level strategic dialogue on matters relating to public policy such as Voter ID legislation, criminal justice, education and health.

Child Poverty Briefing

Alongside Child Poverty Action Group and the Women’s Budget Group, the Runnymede Trust co-authored a briefing highlighting the extent of racial inequalities in child poverty in London. The briefing explored how economic structures that reinforce gender inequality and entrench systemic racism impact Black and ethnic minority families, and children in particular. The Runnymede Trust co-hosted a roundtable with Parliamentarians to discuss these findings, which was Chaired by Rt Hon Dawn Butler MP.

Unearthing Invisible Seafaring Histories of Empire, Britishness and Belonging: A conversation between Asif Shakoor and Georgie Wemyss A facilitated conversation with historians Asif Shakoor and Georgie Wemyss about the histories of Indian Ocean seafarers employed to serve on board British Merchant ships since the 16th century. The conversation highlighted important insights into the conditions experienced by seafarers born under British colonial rule and their impact on present day issues of Britishness and belonging.

Race, Elections and Political Participation

An event looking at the gaps in democratic participation in the UK and the underrepresentation of some minority ethnic communities on Britain’s voting registers. At the event we heard from a panel of experts on what reforms are needed to build a more representative and meaningful democracy.

All Party Parliamentary

Group

The APPG on Race and Community has continued to go from strength to strength and held several high profile events this year, alongside the continued work of our Climate Inquiry. These included:

Charging, prosecution, and judicial decision-making: Racial

disproportionalities within the

criminal justice system

An event exploring disproportionalities in the criminal justice system, from experiences with frontline policing, custodial remands and charging and prosecution decisions. At the event we heard from Crown Prosecution Service, legal professionals, and civil society campaigners as to why these disparities exist and what can be done to mitigate them.

Communications and public engagement

Our communications work has been integral to the successful launch, publicity and subsequent rich public conversation around our research reports and policy outputs but has also allowed us to respond dynamically to breaking news and events.

We continue to be a voice in UK media, with spokespeople from the organisation regularly appearing on, or commenting on, national and international news related to race and ethnicity.

In 2023 we continued to develop our digital presence, maintaining over 130,000 users for our website and a social media following of over 75,000 people. On our social media channels we received particularly high engagement on a set of videos we produced to launch the ‘Dear Stephen’ report, marking the 30th anniversary of Stephen Lawrence’s murder, in which we asked members of the public to reflect on this difficult and significant moment, and for our explainer video on Serious Violence Reduction Orders.

Our editor is continuing to refresh our longstanding blog, “Race Matters”, which aims to bring new perspectives to matters of racial (in)justice, including topics which people may not associate with race. We encourage blogs that shed new light on an issue and are backed up by evidence. We value personal stories that illustrate impact and give perspective.

We are continuously working to keep and maintain our brand that we refreshed fully in 2022 and consider how we can expand our digital platforms and branding to attract and appeal to new audiences and supporters for racial justice work in the UK.

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Fundraising and partnerships highlights

As with the previous year, 2023 has not been an easy year in the charity sector, though we have continued to maintain our steady funding base.

The continuity in funding from Joseph Rowntree Charitable Trust, Esmee Fairbairn, Paul Hamlyn Foundation, Unbound Philanthropy and Aquilla Trust has allowed us to be flexible with the selection of timely and tactical evidence driven interventions.

We have continued to progress with our bespoke partners with Penguin Random House, Sony Music and the Freelands Foundation on producing research-based interventions in the arts and English literature educational landscapes respectively. We secured the Oak Foundation grant by agreeing a partnership with New Economics Foundation and are committed to developing a broader coalition through this programme of work.

We are extremely grateful to all our donors and partners who supported us over the last year and whose vital and often long-term support enables us to continue and grow our vital work.

Anthony Adeane Wilson Solicitors - £8,000 Aquila Family Trust - £25,000 Aziz Foundation - £20,000 Esmee Fairbairn - £70,350 Freelands Foundation - £41,925 Joseph Rowntree Charitable Trust - £113,333 Joseph Rowntree Reform Trust - £7,225 New Economics Foundation - £399,992 Paul Hamlyn Foundation - £75,000 Trust For London - £75,000

We are also extremely grateful to the Paul Hamlyn Foundation for giving us a grant of £15k at short notice to support the ‘Dear Stephen’ work.

TRUSTEES' REPORT Lk —_

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FINANCIAL REVIEW

Overview

It is thanks to the financial support of individual givers, corporations and Trusts and Foundations that we can continue to expand our work during a difficult time for charities. This year saw a net expenditure of £250,368 versus a net income of £935,371 in 2022. Over half of our 2022 income was restricted to future projects. We are continuing to seek and gain new grants and partnerships to continue and expand our work and for 2024 there is a further planned operating deficit as the charity will continue and conclude multi-year projects with restricted funding. During the year the trustees designated £900,000 to an investment fund with a view to generating a financial return to be used to fund and support future projects and core expenditure. These investments are held as cash in interest bearing deposit accounts in line with the organisation's Investment Policy.

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Financial Statements

The financial statements have been prepared in accordance with the accounting policies set out on pages 43 to 44 and comply with the charity’s Memorandum and Articles of Association and the Charities SORP (FRS 102) ‘Accounting and reporting by charities: Statement of recommended practice’ and the Companies Act 2006.

Income

Recognised income was £1,124,820 which is a decrease of £897,311 versus the prior year total of £2,022,131. Of the prior year income nearly 50% came as one-off donation from one funder (Virgin). Of the current year income £553,492 is restricted to specific project delivery.

At 31 December 2023 the level of general unrestricted reserves was £1,406,893 (2022: £1,568,400) which exceeds the reserve policy. We are aiming to reduce these reserves which are currently high due to donations in 2022 and are working towards a planned deficit in FY2024.

Designated funds stand at £915,847 (2022 - £19,950). This is made up of a fixed asset fund representing the unrestricted net book value of fixed assets including furniture, computers, and website development costs. Additionally, during the year the Trustees agreed to designate £900,000 as investments to generate a financial return and support future project work and core operations. These designated investment funds are held as cash investments.

Expenditure

Total resources expended increased to £1,375,188 (2022 - £1,086,760) reflecting the growth in organisational size and capacity and the completion of several restricted fund projects.

Funds

Restricted funds as at 31 December 2023 stand at £781,105 (2022 - £850,016) which represent the fixed assets purchased with restricted funds along with several ongoing and multiyear projects. Details can be found in note 14 of the accounts.

Net outgoing resources of £250,368 resulted in total funds of £2,187,998 as at 31 December 2023 (2022 - £2,438,366).

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Reserves Policy & Going Concern

The Board of Trustees considers it prudent to maintain a sum equivalent to three months core expenditure in unrestricted funds to maintain the ongoing operations of the Charity. This is considered an appropriate level of reserves to manage the risks to which the Charity is exposed in the course of its business, including, but not limited to, safeguarding against volatile voluntary income. Reserves available for use exclude restricted and designated funds.

Funds required to meet the reserve policy stand at £170,410 based on the budgeted average monthly unrestricted expenditure for 2024 (£56,803). At 31 December 2023, the level of unrestricted reserves available for use was £503,540 which exceeds the reserve policy. We are budgeting for a further planned deficit in 2024 in order to reduce reserves following a high-income year in 2022.

The Trustees are of the opinion that there are no material uncertainties that cast significant doubt about the ability of the Trust to continue as a going concern.

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TRUSTEES' REPORT

PLANS FOR 2024

Our upcoming plans in 2024 include the following:

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TRUSTEES' REPORT

STRUCTURE, GOVERNANCE & MANAGEMENT

The Runnymede Trust is constituted as a company limited by guarantee (No. 3409935) and is governed by a Memorandum and articles of Association of the Company adopted by special resolution on the 27th October 2022. We are led by our Board of Trustees.

Trustees

The Board of Trustees formally determines, in compliance with Charity Commission rules, matters such as disposal or acquisition of property, and approves the key operating policies of the charity. The Board is also responsible for the overall risk policy and for assessing the adequacy of the risk mitigation plans. Trustees give their time voluntarily and receive no personal benefit from Runnymede.

The Board approves the strategic and operational plans for Runnymede, including the annual budget, and monitors progress for each of these throughout the year by receiving quarterly reports from the leadership team summarising performance.

The Board normally meets formally at least four times per year. The executive team is hugely grateful for this level of support and commitment.

Committees of the Board

There are two standing Committees of the Board: Finance and Risk Committee and Governance and Nominations Committee.

Remuneration policy for Trustees and senior staff

The Charity’s Trustees give of their time freely. None received remuneration in the year. There are six key management personnel, including the Joint Interim Chief Executives who are responsible for planning, directing, and controlling the day-today activities of the charity. The remuneration of the key personnel is reviewed annually and normally increased by considering the Consumer Price Index (CPI) and the Retail Price Index (RPI). Changes to senior staff responsibilities are also considered when reviewing remuneration.

Executive Team

During 2023 Trustees delegated the dayto-day management of Runnymede to the Chief Executive until June 2023 and then to the joint Interim Chief Executives for the remainder of the year. The ongoing day-today running of the organisation is delegated to staff under the leadership of the joint Interim Chief Executives.

Induction, training of new Trustees, and succession planning

The Trustees have the power to appoint any person who is able and willing to do so to be a Trustee. Trustees are given an in-depth introduction to the organisation and the role of Trustee through meetings with other Trustees (including the Chair) and in meetings with staff (including all members of the leadership team). New Trustees are also given reference information including key policies of the organisation, recent research output, meeting minutes and annual reports as well as access to relevant guidance from the Charity Commission.

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Management of Risk

The risk management strategy comprises:

While overall accountability rests with the Trustees, our aim is to create a culture of effective risk management and mitigation throughout the organisation through regular reviews, training, and implementation of key policies. The risk management process covers both short and longterm risks and in particular concerns Runnymede’s financial sustainability, reputation, and ability to achieve impact.

The Trustees confirm that they are satisfied that strategies, systems, and controls are, as far as possible, in place to mitigate significant risks.

The key risks to the Trust and the actions being taken to mitigate those risks are:

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Trustees/Directors Indemnity Insurance

Fundraising statement

The Runnymede Trust is a member of the Chartered Institute of Fundraising and is compliant with the Fundraising Regulator's "Code of Fundraising Practice". The Runnymede Trust has never carried out any of the intrusive fundraising practices that have been reported in the media as causing annoyance and distress to many, such as fundraising by telephone or door to door. We have never employed third party fundraisers nor engaged with commercial participants, bought, or sold lists of personal data or mailing lists from any source. We have always tried to be open and honest in all our fundraising and never to apply undue pressure when requesting support. To support this transparency, we publish an annual list of all donors who have given over £5,000. Fundraising activities are undertaken by employees. We received no formal complaints during the period.

Runnymede provides insurance to its trustees against liability in respect of action brought by third parties, subject to the conditions set out in the Companies Act 2006. Such qualifying third-party indemnity insurance remains in force as of the date of approving the trustees’ annual report.

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TRUSTEES' REPORT

STATEMENT OF TRUSTEES’

The trustees (who are also directors of Runnymede for the purposes of company law) are responsible for preparing the trustees’ annual report including the strategic 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 that give a true and fair view of the state of affairs of the charitable company and the group, and of the incoming resources and application of resources, including the income and expenditure of the charitable company or group for that period. In preparing these financial statements, the trustees are required to:

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 the group 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 group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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 preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2023 was 9. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

The trustees’ annual report which includes the strategic report has been approved by the trustees on 15th April 2024 and signed on their behalf by;

................................................

Name: Sir Clive Jones CBE Position: Chair, Board of Trustees

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TRUSTEES' REPORT

2023

REFERENCE & ADMINISTRATIVE DETAILS

Registered charity name: The Runnymede Trust Registered Company number: 03409935 (England and Wales)

Registered Charity number: 1063609 Registered office: Bk 207, Brickfields, 37 Cremer Street, London, E2 8HD

Trustees

Sir Clive Jones (Chair) Professor Jason Arday Hepburn Harrison-Graham Hossein Zahir KC Dr Maya Goodfellow Farah Elahi Professor Iyiola Solanke Lai-Har Cheung Faraz Tasnim - resigned August 2023

Key Management Personnel

Shabna Begum (Joint Interim CEO) Laurence Jay (Joint Interim CEO) Halima Begum (CEO) - resigned June 2023

Auditors

Sayer Vincent , 110 Golden Lane, London EC1Y 0TG

Bankers

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ

Solicitors

Womble Bond Dickinson, 4 More London Riverside, London, UK SE1 2AU

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS

Opinion

We have audited the financial statements of The Runnymede Trust (the ‘charitable company’) for the year ended 31 December 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

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.

PAGE | 36

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 Runnymede Trust'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 other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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:

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 in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the 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 but to do so.

PAGE | 38

Auditor’s responsibilities for the audit of the financial statements

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 extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations,

our procedures included the following:

We reviewed any reports made to regulators.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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.

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.

Judith Miller (Senior statutory auditor) Date 23 April 2024

For and on behalf of Sayer Vincent LLP, Statutory Auditor 110 Golden Lane, LONDON, EC1Y 0TG

PAGE | 39

THE RUNNYMEDE TRUST

STATEMENT OF FINANCIAL ACTIVITIES - FOR THE YEAR ENDED 31 DECEMBER 2023 including an income and expenditure account

Notes
INCOME FROM:
Donations
2
Charitable activities
3
Policy & Research
Engagement & Communications
Investments
Other income
Total income
EXPENDITURE ON:
Raising funds
4a/4b
Charitable activities
4a/4b
Policy and Research
Engagement and Communications
Total expenditure
Net income/(expenditure) for the year
Transfer between funds
14a
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
£
£
114,837
-
342,203
550,779
74,394
2,713
37,903
-
1,991
-		 2023 Total
£
114,837
892,982
77,107
37,903
1,991
1,124,820
66,805
1,104,330
204,053
1,375,188
(250,368)
-
(250,368)
2,438,366
2,187,998		 Unrestricted
Restricted
£
£
restated
restated
616,477
600,000
287,381
437,032
76,400
-
4,503
-
338
-
985,099
1,037,032
29,828
-
313,530
586,849
155,137
1,416
498,495
588,265
486,604
448,767
(5,564)
5,564
481,040
454,331
1,107,309
395,685		 2022 Total
£
restated
1,216,477
724,413
76,400
4,503
338
571,328
553,492		 2,022,131
66,805
-
461,544
642,786
198,781
5,272
727,130
648,058
(155,802)
(94,566)
(25,655)
25,655
(181,457)
(68,911)
1,588,350
850,016
1,406,893
781,105		 29,828
900,379
156,553
1,086,760
935,371
-
935,371
1,502,994
1,588,350
850,016		 2,438,366

All of the results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are detailed in note 14.

40

THE RUNNYMEDE TRUST STATEMENT OF FINANCIAL POSITION - AS AT 31 DECEMBER 2023

Note
Fixed assets
Intangible assets
9
Tangible fixed assets
10
Investments
Current assets
Debtors
11
Cash at bank & in hand
Current liabilities
Creditors: Amounts falling
12
due within one year
Net current assets
Total net assets
Charitable funds
Restricted funds
13a
Designated funds
13a
General funds
13a
Total Unrestricted funds
Total funds		 £
10,998
25,174
900,000
88,952
1,281,476
1,370,428
(118,602)
915,847
491,046
2023		 £
936,172
1,251,826
2,187,998
781,105
1,406,893
2,187,998
 £
13,748
31,604
-
131,289
2,353,617
2,484,906
(91,892)
19,950
1,568,400
2
res		 £
45,352
2,393,014
022
tated
2,438,366
850,016
1,588,350
2,438,366

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of recommended practice' applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and the Companies Act 2006.

These financial statements were authorised for issue by the Board of Trustees on 15 April 2024 and signed on behalf of the board.

Sir Clive Jones CBE Chair, Board of Trustees Date: 15 April 2024 The notes on pages 43 to 49 form part of these financial statements. Company no: 03409935 Charity no: 1063609

41

THE RUNNYMEDE TRUST

STATEMENT OF CASH FLOWS - FOR THE YEAR ENDED 31 DECEMBER 2023

Reconciliation of net movement in funds to net cash inflow from operating activities

Reconciliation of net movement in funds to net cash inflow from operating activities
Net (expenditure) / income for the year
Adjustments:
Depreciation charges
Decrease in debtors
(Decrease) in creditors
Net cash provided by (used in) operating activities
Cash flows from investing activities
Investments
Purchase of intangible assets
Purchase of tangible assets
Net cash (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at beginning of reporting period
Cash and cash equivalents at the end of the reporting period
Analysis of changes in net funds
Cash		 At 01 January
2023
2,353,617		 2023
£
(250,368)
9,181
42,336
26,710
(172,141)
(900,000)
-
-
(900,000)
(1,072,141)
2,353,617
1,281,476
Cash Flows
(1,072,141)
(1,072,141)		 2022
£
restated
935,371
8,200
40,571
(16,839)
967,303
-
(10,817)
(29,841)
(40,658)
926,644
1,426,973
2,353,617
At 31 December
2023
1,281,476
2,353,617 1,281,476

42

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2023

The financial statements have been prepared in accordance with 'Accounting and Reporting by Charities: Statement of recommended practice' applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP FRS 102 ) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

The charity meets the definition of a public benefit entity under FRS 102.

The financial statements have been prepared on a going concern basis. Having considered the charity's reserves position, future plans and forecasts for at least twelve months, the trustees consider that on this basis the charity is a going concern. The trustees do not consider that there are any sources of estimation/uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds allocated by the trustees for particular purposes.

Expenditure on charitable activities includes the costs of research projects, policy work, engagement and communications undertaken to further the purposes of the charity and their associated support costs. Irrecoverable VAT has been analysed and apportioned within premises and support costs.

Plant and Machinery 20% reducing balance Fixtures and Fittings 20% reducing balance Computer equipment 20% reducing balance

Intangible fixed assets are stated at cost less amortisation. Assets are not capitalised below £1,000 per item. Amortisation is provided at the following rates in order to write off the cost of the assets over their estimated useful lives: Website 20% reducing balance

In line with the Trust Investment Policy the board of trustees has designated funds to be held in cash deposits in order to generate a financial return. It is the intention of the Trustees that these funds will not be required to meet operating requirements in the next 12 months.

43

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2023

o Debtors

Trade and other debtors are recognised at the settlement amount due after trade discount offered. Pre-payments are valued at the amount pre-paid net of any trade discounts due.

q Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

The charity enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Employees of the charity are entitled to join a defined contribution personal group pension plan; a qualifying pension scheme as defined by the Pension Regulator. The employee personal plan is managed by Nest and the plan invests contributions made by the employee and employer in a fund(s) of the employee's choice. The charity has no liability beyond making its contributions. The charity contribution is restricted to that disclosed in note 6. The pension costs charged in the Statement of Financial Activities represent the contributions payable by the charity during the year.

The charity is exempt from corporation tax on its charitable activities.

44

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2023

2
Donations
Donations
3
Income from charitable activities
Policy & Research
Grants
Consultancy & lecturing
Engagement & Communications
Grants
Consultancy & lecturing
Events
4a
Analysis of expenditure (current year)
Raising funds
£
Staff costs (note 6)
43,910
Direct activity costs
2,182
Recruitment costs
-
Consultancy costs
Property costs
-
IT costs
672
Legal & professional fees
-
Office costs
-
Depreciation and amortisation
-
Irrecoverable VAT
-
Other costs
-
46,764
Support costs
17,840
Governance costs
2,201
Total expenditure 2023
66,805
Total expenditure 2022
29,828		 2
Donations
Donations
3
Income from charitable activities
Policy & Research
Grants
Consultancy & lecturing
Engagement & Communications
Grants
Consultancy & lecturing
Events
4a
Analysis of expenditure (current year)
Raising funds
£
Staff costs (note 6)
43,910
Direct activity costs
2,182
Recruitment costs
-
Consultancy costs
Property costs
-
IT costs
672
Legal & professional fees
-
Office costs
-
Depreciation and amortisation
-
Irrecoverable VAT
-
Other costs
-
46,764
Support costs
17,840
Governance costs
2,201
Total expenditure 2023
66,805
Total expenditure 2022
29,828		 Unrestricted
Restricted
£
£
114,837
-
114,837
-
Unrestricted
Restricted
£
£
212,590
550,779
129,613
-
342,203
550,779
67,910
2,713
5,487
-
997
-
74,394
2,713
Policy &
Research
Engagement &
Communication
£
£
629,917
85,013
96,188
12,868
12,084
-
61,007
1,357
-
-
17,415
1,672
-
-
-
-
-
-
-
-
7,141
2,937
Charitable Activities		 2023 Total
£
114,837
114,837
2023 Total
£
763,369
129,613
892,982
70,623
5,487
997
77,107
Governance
£
10,521
-
17,385
-
-
-
16,121
-
-
-
-
44,027
-
(44,027)		 Unrestricted
Restricted
£
£
616,477
600,000
616,477
600,000
Unrestricted
Restricted
£
£
restated
182,441
437,032
104,940
-
287,381
437,032
50,202
-
2,925
-
23,273
-
76,400
-
Support costs
2023 Total
£
£
187,012
956,373
-
111,238
26,552
56,021
15,000
77,364
29,684
29,684
17,201
36,960
-
16,121
8,951
8,951
9,179
9,179
42,573
42,573
20,646
30,724
356,798
1,375,188
(356,798)
-
-
-
-
1,375,188		 2022 Total
£
1,216,477
1,216,477
2022 Total
£
restated
619,473
104,940
724,413
50,202
2,925
23,273
76,400
2022 Total
£
restated
725,009
152,764
29,962
51,206
25,604
30,847
11,994
9,805
8,200
27,497
13,872
46,764
17,840
2,201		 823,752
103,847
249,759
89,199
30,819
11,007		 1,086,760
-
-
66,805 1,104,330
204,053		 - 1,086,760
29,828 901,794
155,137		 -
Analysis of expenditure (prior year) - restated
Staff costs (note 6)
Direct activity costs
Recruitment costs
Consultancy costs
Property costs
IT costs
Legal & professional fees
Office costs
Depreciation and amortisation
Irrecoverable VAT
Other costs
Support costs
Governance costs
Total expenditure 2022
Net income / (expenditure) for the year
This is stated after charging / (crediting):
Depreciation & Amortisation
Operating lease rentals payable:
Property
Other
Auditors remuneration (excluding VAT):
Audit fees
Other services		 Raising funds
£
13,445
1,795
-
-
-
-
-
-
-
-
-		 Policy & Research
Engagement &
Communication
Governance
Support costs
£
£
£
£
456,565
60,058
3,897
191,044
113,702
37,267
-
-
-
-
7,500
22,462
-
-
-
51,206
-
-
-
25,604
-
-
-
30,847
-
-
11,981
13
-
-
-
9,805
-
-
-
8,200
-
-
-
27,497
-
-
913
12,959
Charitable Activities		 2022 Total
£
725,009
152,764
29,962
51,206
25,604
30,847
11,994
9,805
8,200
27,497
13,872
15,240
13,711
877		 570,267
97,325
24,291
379,637
311,590
54,335
-
(379,637)
19,937
3,477
(24,291)
901,794
155,137
-
-		 1,086,760
29,828 1,086,760
2023
£
9,181
27,486
2,190
14,000
-		 2022
£
8,200
23,480
2,190
6,750
2,280

45

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2023

6
Staff costs
2023
£
Salaries and wages
845,357
Social security costs
92,358
Pension costs
18,658
956,373
The following number of employees received employee benefits (excluding employer pension costs and employer national insurance) during the year
between:
2023
£60,000-£69,999
2		 2022
£
652,144
58,655
14,210
725,009
2022
1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £210,422 (2022: £145,049 - restated).

No trustees received remuneration or any other benefits from employment with the charity in the year (2022: £nil). No trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustee expenses represent the payment or reimbursement of travel and subsistence costs totalling £nil (2022: £nil) relating to attendance at meetings of the trustees.

7 Staff numbers

The average monthly number of employees employed by the charity during the year was 23 (2022: 20) which corresponds to 20 full time equivalent employees (2022: 17). Staff are allocated across the activities of the charity as follows:

Research
Policy
Engagement
Communications
Governance
Fundraising		 2023
10.0
4.0
2.0
3.0
0.2
0.9
20.1		 2022
8.0
5.0
1.0
2.0
0.1
0.9
17.0

There are no related party transactions to disclose for the financial year (2022: none).

9 Intangible assets

Intangible assets
Cost at 1 January 2023
Additions
Disposals
Cost at 31 December 2023
Amortisation at 1 January 2023
Charge for the year
Disposals
Amortisation at 31 December 2023
Net book value as at 31 December 2023
Net book value as at 31 December 2022		 Website
£
16,152
-
-
16,152
2,404
2,750
-
5,154
10,998
13,748		 Total
£
16,152
-
-
16,152
2,404
2,750
-
5,154
10,998
13,748
Cost at 1 January 2023
Additions
Disposals
Cost at 31 December 2023
Depreciation at 1 January 2023
Charge for the year
Disposals
Depreciation at 31 December 2023
Net book value as at 31 December 2023
Net book value as at 31 December 2022		 Office
Equipment
£
5,164
-
(575)		 Computer
Equipment
£
33,071
-
-
33,071
4,851
5,645
-
10,496
22,576
28,220		 Total
£
38,235
-
(575)
4,589
1,780
786
(575)
1,991
2,598
3,384		 37,660
6,631
6,431
(575)
12,487
25,174
31,604

All of the above assets are used for charitable purposes.

46

THE RUNNYMEDE TRUST NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2023

11
Debtors
Trade debtors
Other debtors
Prepayments
Accrued income
Social security and other taxation		 2023
£
48,174
9,059
31,589
130
-
88,952		 2022
£
restated
37,250
7,271
12,750
63,239
10,779
131,289

All amounts shown under debtors fall due for payment within one year.

Creditors: Amounts falling due within one year
Trade creditors
Other creditors
Accruals
Deferred income
Social security and other taxation		 2023
£
43,393
-
52,917
12,500
9,792
118,602		 2022
£
restated
6,063
2,150
62,117
-
21,562
91,892

12 Creditors: Amounts falling due within one year

13a Analysis of net assets between funds (current year)

Restricted funds
Designated funds
General funds
Analysis of net assets between funds (prior year)
Restricted funds
Designated funds
General funds		 Fixed Assets
£
20,325
15,847
-
36,172
Fixed Assets
£
25,405
19,950
-
45,355		 Investments
Net Current
Assets
£
£
-
760,780
900,000
-
-
491,046
900,000
1,251,826
Investments
Net Current
Assets
£
£
restated
-
824,611
-
-
-
1,568,400
-
2,393,011		 Net assets at 31
December 2023
£
781,105
915,847
491,046
2,187,998
Net assets at
31 December
2022
£
restated
850,016
19,950
1,568,400
2,438,366

13b Analysis of net assets between funds (prior year)

47

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2023

14a Movement in funds (current year)

Restricted funds:
Fixed asset fund
Charities Aid Foundation
Runnymede Unbound
Sony
Vanguard
Freelands Foundation
Virgin - Policing
Virgin - Community Empowerment Network
Virgin - Migration
Oak Foundation
Penguin Random House
National Education Union
Trust for London
Paul Hamlyn
New Economics Foundation
Joseph Rowntree Reform Trust
Arts and Humanities Research Council
Oxfam
Joseph Rowntree Charitable Trust
Unrestricted funds:
Designated funds:
Fixed asset fund
Investment fund
General funds
Total unrestricted funds
Total funds
Movement in funds (prior year)
Restricted funds:
Fixed asset fund
Charities Aid Foundation
Runnymede Unbound
Sony
Vanguard
Freelands Foundation
Greenpeace
Fawcett Society
Black & Veatch
Virgin
Oak Foundation
Penguin Random House
National Education Union
Living wage foundation
Unrestricted funds:
Designated funds:
Fixed asset fund
General funds
Total unrestricted funds
Total funds		 At 1 January 2023
Income & gains
Expenditure &
losses
Transfers
At 31 December
2023
£
£
£
£
£
25,405
-
(5,080)
-
20,325
10,244
-
(10,244)
-
-
35,770
-
(39,808)
4,038
-
44,961
-
(49,586)
4,625
-
19,964
-
(19,964)
-
-
56,773
41,925
(109,087)
10,389
-
200,000
-
(58,890)
-
141,110
200,000
-
(55,494)
-
144,506
200,000
-
(20,312)
-
179,688
26,537
-
(26,537)
-
-
15,951
-
(15,951)
-
-
14,411
-
(14,411)
-
-
-
75,000
(31,824)
-
43,176
-
15,000
(21,603)
6,603
-
-
399,992
(152,867)
-
247,125
-
7,225
(7,225)
-
-
-
3,000
(3,000)
-
-
-
1,000
(1,000)
-
-
-
10,350
(5,175)
-
5,175
850,016
553,492
(648,058)
25,655
781,105
19,950
-
(4,104)
-
15,847
-
-
-
900,000
900,000
19,950
-
(4,104)
900,000
915,847
1,568,400
571,328
(723,026)
(925,655)
491,046
1,588,350
571,328
(727,130)
(25,655)
1,406,893
2,438,366
1,124,820
(1,375,188)
-
2,187,998
At 1 January 2022
Income & gains
Expenditure &
losses
Transfers
At 31 December
2022
restated
restated
£
£
£
£
£
-
-
(1,334)
26,739
25,405
115,038
45,000
(123,055)
(26,739)
10,244
100,784
40,000
(105,014)
-
35,770
86,746
-
(41,785)
-
44,961
44,964
-
(25,000)
-
19,964
33,786
163,850
(140,863)
-
56,773
6,118
16,666
(22,784)
-
-
4,688
7,500
(12,188)
-
-
3,561
-
(9,125)
5,564
-
-
600,000
-
-
600,000
-
107,556
(81,019)
-
26,537
-
25,000
(9,049)
-
15,951
-
19,020
(4,609)
-
14,411
-
12,440
(12,440)
-
-
395,685
1,037,032
(588,265)
5,564
850,016
-
-
(6,861)
26,812
19,950
-
-
(6,861)
26,812
19,950
1,107,309
985,099
(491,632)
(32,376)
1,568,400
1,107,309
985,099
(498,493)
(5,564)
1,588,350
1,502,994
2,022,131
(1,086,758)
-
2,438,366

14b Movement in funds (prior year)

Fixed asset fund - represents the undepreciated balance of fixed assets excluding those included in restricted funds, which are held for the ongoing, charitable use of the trust.

Investment fund - funds held in cash deposit accounts , designated by trustees for future use on projects or core operating costs.

48

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2023

Fixed Asset fund - represents the undepreciated balance of funds received for the purchase of specific tangible fixed assets.

Runnymede Unbound - funding received to facilitate the running of the Unbound trainee programme.

Sony - research examining a lack of ethnic diversity across some musical genres.

Vanguard - funding for an economist to support our research team.

Freelands Foundation - funding research into access to the visual arts for Black, Asian and ethnically diverse students.

Virgin - funding to support projects focused on three themes: Policing, Migration and Communities.

Oak Foundation - funding to scope and develop a larger project focusing on toxic debt.

Penguin Randon House - partnership with Penguin books to develop the English Literature curriculum (Lit in Colour)

National Education Union - work to develop a model diversified history curriculum and promote anti-racist frameworks.

Trust for London - funding from the Racial Justice Fund to research barriers to home ownership and wealth for black and minoritized communities in London.

Paul Hamlyn - report, in collaboration with the Stephen Lawrence Day Trust, to coincide with the 30th anniversary of the murder of Stephen Lawrence.

New Economics Foundation - funding to support work on a multi year Pwer to Prosper project.

Joseph Rowntree Refrom Trust - research looking at the effect of new voter identification requirements.

Arts & Humanities Research Council - grant to support Runnymede's ongoing education work.

Oxfam - grant for Runnymede contribution to the 'Inequalities Amplified' project.

Joseph Rowntree Charitable Trust - funding to engage a consultant to look at future funding streams.

14c Purposes of general funds

General Funds - represent funds available for use at the charities discretion. During the year funds were designated to an Investment fund and funds were released to support several restricted fund projects.

15 Prior period adjustment

Reserves position
Funds previously reported
Adjustment on restatement:
Release of deferred income
Share Action consultancy
Funds restated
Impact on income and expenditure
Net income as previously reported
Adjustments on restatement
Release of deferred income
Share Action consultancy
Net income as restated		 Unrestricted Restricted
2022		 Total
£
2,350,866
87,500
-
2,438,366		 Unrestricted Restricted
2021		 Total
£
1,492,398
87,500
8,452
1,588,350		 £
858,468
-
(8,452)
850,016		 £
1,107,309
-
-
1,107,309
Unrestricted		 £
395,685
-
-
395,685
Restricted
2022		 £
1,502,994
-
-
1,502,994
Total
£
385,088
87,500
8,452
481,040		 £
462,783
-
(8,452)
454,331		 £
847,871
87,500
-
935,371

Details of adjustments

Release of deferred income - The Trust had previously deferred, on a time apportionment basis, an unrestricted core grant. An adjustment has been made to revise this treatment to recognise the grant in full in the year in which it was awarded.

Income and expenditure in the Etnicity Pay Gap project with Share Action had been treated as restricted rather than an unrestricted piece of consultancy work.

16 Financial Commitments The operating lease charge for 2023 was £29,676 (2022: £24,272). At 31 December 2023 the charity's minimum commitments over the life of noncancellable operating leases were as follows:

Less than one year
One to five years
Total		 2023
2022
£
£
restated
33,043
8,545
13,199
-
46,242
8,545
Property		 2023
2022
£
£
restated
2,190
2,190
535
2,725
2,725
4,915
Equipment		 2023
2022
£
£
restated
2,190
2,190
535
2,725
2,725
4,915
Equipment
4,915

49

RU YMED= For racial justice