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← The Runnymede Trust

2024-12-31-accounts

RUNNYMEDE TRUST TRUSTEES' REPORT AND FINANCIAL STATEMENTS

2024

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TRUSTEES' REPORT

CONTENTS

Trustees' annual report (incorporating the Directors' report) 03
Strategic report 09
Reference and administrative details 32
Independent auditor's report to the members 34
Statement of financial activities 39
Statement of financial position 40
Statement of cash flows 41
Notes to the financial statements 42

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TRUSTEES' REPORT

2024

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 2024.

Reference and administrative information set out on page 32 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

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CHAIR'S OVERVIEW

Dear Friends,

I was delighted to be announced and confirmed into the post in early 2024 and to bring the experience I have had in leadership and governance to support the incredibly important work of the Runnymede Trust.

This year has proved that racial justice work is as important as it was when the charity was first founded nearly 60 years ago, in 1968. That year was also a time of considerable racial tension and marked by a preceding period of riots and increased discrimination towards people of colour.

That is why I am so pleased that the Runnymede Trust has continued to be the authoritative and courageous voice it needs to be. We have published on everything from GCSE art education to segregated asylum accommodation and Islamophobia - just a small selection of our many outputs this year, showcasing the breadth of our work and the varied needs that we must attend to.

One of my first priorities this year was to recruit for the permanent CEO position and we were delighted to appoint Dr Shabna Begum, who had served as the Interim CEO, through the competitive recruitment process.

The organisation was founded with a view to address those challenges and its founders were clear that there was a desperate need for an organisation to advocate through research and policy influencing for people at the sharp end of those experiences. In 2024, from a tense general election campaign and the increasing presence of far right narratives in our politics, to the summer’s racist riots - it is clear that we continue their foundational work and that the challenge of racism remains active and evolving.

She brings considerable experience from outside of the charity and thinktank sector as well as deep understanding of racial justice issues through her academic expertise. That appointment was particularly timely given the General Election was then called unexpectedly earlier than most had predicted and Dr Begum’s ability to offer stability and leadership through that period was incredibly valuable and welcome.

Through the election that followed in July, we saw a change of government and prioritised the development of a policy influencing approach and capacity that would enable us to actively advance our racial justice priorities. However, even with a new government there remains a wider hostile and challenging political environment, one that has connected closely with global events and in turn generated a deteriorated political conversation domestically.

This year, we ourselves have faced increased attacks on our work and social media has increasingly become a space where we confront powerful, regressive voices that seek to shut

down and discredit progressive, racial justice voices. This remains an area of ongoing careful navigation as we seek to protect our work and the causes that we promote, whilst attentive to the shifts in the shape of the conversation.

In doing this, we continue to value our partnerships with wider sector actors and the expertise and enhancement of our work that is achieved through them. We have been fortunate to retain and consolidate the support of our loyal funders and this has been particularly welcomed as we witness a period where the charity and NGO sector faces funding challenges that are both the outcome of ongoing funding challenges and increased political attacks on those pipelines.

We know that 2025 is likely to be another critical year for the organisation and we are pleased to have commenced a Board refreshment process that will enable us to recruit new trustees to enhance and secure the governance of the organisation, for the work that is to come. With those opportunities and challenges, I am pleased to present these accounts for 2024 which highlight the work we have done and our plans for moving forwards.

Sincerely, and with our thanks,

Professor Dame Donna Kinnair 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 APPROACH

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.

Research Research: We produce reliable and impartial evidence on racial inequalities in the UK, which is used to dismantle 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.

Collaboratio 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:

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

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

a. Working towards the elimination of discrimination on the grounds of race, nationality, ethnicity, religion, or socioeconomic background;

b. Advancing education and raising awareness in equality and diversity with a view to enhancing relations between persons of different racial, religious and socio-economic groups;

c. Promoting activities to increase knowledge of and to foster mutual understanding between people from diverse backgrounds;

d. Conducting or commissioning study and research on equality and diversity issues and their effect on society, and publishing the results of that research; and

e. Cultivating a sentiment amongst the public in favour of equality and diversity.

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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.

This report outlines how our achievements and performance during 2024 have contributed to the furtherance of our charitable purposes.

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.

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TRUSTEES' REPORT

2024

STRATEGIC REPORT

The following sections form the strategic report of the charity.

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ACHIEVEMENTS & PERFORMANCE

2024 was a year of both significant political change and heightened racism linked to both domestic and global events. At the same time it represented a year of both change and consolidation for the organisation.

We had several key priorities over the course of the year. One was the recruitment of a permanent CEO to secure the leadership of the organisation. We were also preparing for what we knew was a General Election year and recognised the challenges and opportunities that presented. We were also keen to strengthen our research portfolio around the core domains of our work including health, wealth, education, housing, migration, and climate justice and make sure we pushed racial justice priorities in each of these areas. And finally, we wanted to develop our communications and engagement strategy to strengthen and diversify our reach and ensure wider impact and benefit of our research and policy outputs.

How we did

After an extensive recruitment process which lasted some months and saw significant competition, the Runnymede Trust was pleased to appoint Dr Shabna Begum as its permanent CEO. Shabna had acted as the Interim CEO initially as a co-lead in the role for 6 months and then for 5 months as the solo interim leader.

Her appointment was confirmed in May 2024 and has been welcomed by all our partners, stakeholders and staff team who have worked with her over the past three years since she came to the organisation. She has led on some of our flagship work as well as developed new funding streams and projects and we are delighted to have her lead the organisation.

Events both expected and unexpected had a significant impact on our time, workload and outputs, but we are pleased to report that in terms of the objectives that were set last year, most of these were either met or are naturally ongoing streams of work for us.

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The stabilising impact this has had also meant the organisation was able to quickly approve and confirm a new strategy that is now active and supporting the organisational direction over the next five years.

We conducted internal training and organisational refreshers with all staff to prepare for our organisational activity during the election period. The election was announced and called earlier than most predictions and was held in May. However, given we had published our Racial Justice Priorities for Britain, a briefing which outlined key policy priorities to meet racial justice objectives that was aimed at political party manifesto development in autumn 2023, we were well prepared for the events and activities.

Part of that preparation was to develop our thinking about building our relational influencing approach. After the election, we made sure to reach out to all new MPs, and made targeted approaches to those new

MPs and ministers who came to be in positions of policy priority for us. We also worked on renewing and increasing membership of our Race and Community APPG with the new cohort of MPs.

We also continued with major projects on education through our work with Penguin and the Lit in Colour campaign, which this year saw the launch of the Pioneers research launch with Pearson Edexcel, which was an early impact assessment of changes flowing from the programme. We also published a groundbreaking report looking at art education in secondary schools, called Visualise and launched the project in Parliament.

We have continued with our work on health, with the development of work around understanding racism as a wider determinant of health, with our partners the Health Foundation and also took on a contract from Barnado’s looking at Black maternal health.

Our research on the relationship between housing tenure and wealth has continued and the report based on the research and advocacy work done with several London communities will be finalised and published in spring 2025. Our Power to Prosper programme, delivered with the New Economics Foundation went into the second year of its three-year timetable and has focused on activities in Nottingham, Manchester, Newham and Lambeth, as well as

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established a re-granting stream to support local grassroots organisations to support and coordinate with the overall programme objectives. The work which is rooted in challenging the problem of problem debt has been enhanced with a community wealth building vision that underpins the work.

We also concluded the Climate Inquiry that was run through our Race and Community APPG, which had sessions with experts from local, national and global organisations reflecting on some of the most urgent climate related issues and their disproportionate impact on people of colour. The report is due out in 2025.

We have made strong strides in progressing our ambition to connect migration and asylum justice to our racial justice work and have spent some time highlighting those connections through our work; in 2025 we published a report investigating increases in racialised anti-migrant rhetoric and their correlation to increases in racist hate crime.

We commissioned and published a report on Islamophobia, that spoke back to our previous reports from 1997 and 2017 and updated on the most recent manifestations of Islamophobia as they related to the catastrophic violence in Gaza, and ongoing mainstream demonisation of Muslim communities in the UK.

We produced a joint report with Amnesty International UK to the UN Committee on the Elimination of Racial Discrimination’s 113th Session. This report was endorsed by over 40 civil society organisations and we found that government legislation and policy is in breach of key articles of the United Nations treaty, the International Convention for the Elimination of Racial Discrimination (ICERD). We were pleased that several of our recommendations were then endorsed by the UN Rapporteurs who supported the suspension of the Prevent Duty, the banning of strip searching of children which we argued was deeply racialized and also supported the repeal of legislation that had impacted rights to protest.

We also worked closely with organisations in this sector and produced a briefing with Care for Calais, “Segregation by Nationality: The impact of large-scale asylum accommodation on asylum seekers of colour”, highlighting the harms posed by large scale accommodation on asylum seekers of colour which we argued, amounts to segregation by nationality.

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Finally, the racist riots that erupted in the summer - the worst we have seen in generations - was a reminder that the work we do is urgent and under increasing attack. We did a lot of communications work around the time including launching a short video highlighting the direct links between the riots and the mainstream political and media narratives that had become so hostile to Muslims, migrants and people seeking asylum, and which had been variously highlighted across our broad portfolio of work.

We have worked with partners across the social justice sector on everything from education to migration and this has enabled us to expand our reach and develop our expertise. We have continued to work with bigger corporate and sector partners like Penguin and the Health Foundation as well as smaller organisations like Community Empowerment Network and ALLFIE.

We have strengthened relationships with academics and utilised that to produce insightful and authoritative research outputs like Creating the Crisis, racism, immigration and the General Election, and Islamophobia: the intensification of racism against Muslims in the UK. We have worked with organisations at both a local and national level through our Power to Prosper programme and developed relationships with smaller grassroots organisations.

We have also begun to develop regional network partners in Bradford, Birmingham, Cumbria and Wales with a view to supporting dissemination and development of our research.

Our communications team has supported a year where we have had to launch both major reports and be able to respond quickly to emerging issues and news agendas.

The aftermath of the riots was particularly intense and we produced a compelling short video output to register our concerns. We also secured coverage in The Guardian, The Times, we have had OpEd pieces published with LBC, Tribune, Big Issue, Schools Week throughout the year. We have also featured in several prominent TV news programmes, including Shabna appearing as a guest on BBC Politics Live. We have also continued to do some fantastic work through our blog including pieces on hair discrimination and unsung heroes.

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OUR WORK IN 2024

Visualise

Visualise, the outcome of our partnership with Freelands Foundation to broaden the art curriculum, examines the current state of race and inclusion in art education in England.

We confirm what educators have been saying for years: that art education is at crisis point. GCSE exam papers remain incredibly limiting - just 2.3% of named stand alone artists referenced in GCSE Art exam papers are from Black (1.54%) or South Asian (0.74%) backgrounds. This is at stark odds with what both students and teachers are asking for. Nearly two thirds (66%) of secondary school students want to study artists from a wider range of ethnic backgrounds, rising to 80% among Black students.

We are currently doing an impact assessment to understand how this work has affected what students are studying and how artists of colour are referenced in assessment materials.

Runnymede polls: understanding Black and minority ethnic perspectives on protest rights and Palestine in 2024

In our survey of over 2,000 Black and minority ethnic people in the UK, 66% report supporting stronger calls for a ceasefire in Gaza, and more compassion for Palestinian people. Just 9% of Black and minority ethnic people oppose, with 21% reporting that they ‘neither support nor oppose’, and 4% that they ‘don’t know’, with regards to those statements.

We also recorded a strong desire amongst teachers to diversify their teaching content for the benefit of their students. But teachers are under pressure, overworked and underresourced. A third of teachers had not encountered the work of any minority ethnic artists in their own education, with 90% of teachers surveyed saying that supplementary teaching resources dedicated to the work of minority ethnic artists would aid their teaching.

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Our nationally representative polling shows that Black and minority ethnic people across the political spectrum support these calls. Three quarters (75%) of Black and minority ethnic people who voted Labour in the 2019 General Election, and two thirds (66%) of Black and minority ethnic people who voted Conservative, support stronger calls for a ceasefire and more compassion for Palestinian people in UK politics.

The racialised harm of police strip searches

A response from the Runnymede Trust to a Home Office consultation, outlining the racialised harm of police strip searches across England and Wales.

Racial segregation and the asylum system: the case of RAF Wethersfield

People of colour are bearing the brunt of shocking conditions in mass asylum accommodation, which amount to racial segregation, our briefing with Care4Calais says.

Civil Society report to the United Nations CERD

Our joint submission with Amnesty International UK to the UN Committee on the Elimination of Racial Discrimination’s 113th Session, found that government legislation and policy is in breach of key articles of the United Nations treaty, the International Convention for the Elimination of Racial Discrimination (ICERD).

Endorsed by over 40 civil society organisations, the report shows that people of colour have faced a worrying row back on their civil and political rights. Legislation, institutional practices and society’s customs continue to combine to harm people of colour. Considerable concern is raised about breaches of human rights obligations in recent immigration legislation, including the Illegal Migration Act (2023), which will likely disproportionately impact people of colour.

Testimonies from residents, volunteers and employees at RAF Wethersfield, an asylum accommodation site, detail the harrowing conditions in so-called ‘contingency’ asylum accommodation, demonstrating the harm that this form of accommodation causes on people of colour.

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Echoing concerns from the previous reporting period to ICERD (2021), we maintain deep concern over previous government legislation including the Police, Crime Sentencing and Courts Act (2022), Elections Act (2022), and the Nationality and Borders Act (2022), which, combined, offer the biggest and sustained threat to the civil and political rights of people of colour in a generation.

Beyond crisis: analysing responses to the racist riots

The racist riots were the worst we had seen in generations. We coordinated a sector wide response highlighting how the ‘culture wars’ narratives encouraged and enabled by politicians had created the conditions for the violence. We also published a policy response highlighting the need for attention to the structural conditions that led to the violence.

Islamophobia: the

intensification of racism against Muslim communities in the UK

Our latest report on Islamophobia shows that it is growing in the UK, and highlights its structural nature across British society. Islamophobia in the UK has deep roots that manifest in many forms.

The sense that Muslim people are a threat to Britain has become overt and direct. Whether it is politicians speaking from the benches in parliament, or mainstream headlines screaming about ‘Islamist extremists’ when describing peaceful protestors, Islamophobia has reached fever pitch in the UK. These narratives have cast British Muslims as ‘outsiders’ with foreign loyalties, as a menace to society. It is time that we put a rational conversation back on the agenda.

Representing ‘race’ and migration

We collaborated with Heard - a charity dedicated to working with people and the media to inspire content and communication that changes hearts and minds - to create this guide for media professionals and creators who want to tell powerful and nuanced stories about racism and migration.

In Inside, we explore the concept of intersectionality, and show how experiences of racism and migration intersect in people’s lives. The guide aims to provide people working in and with the media with the tools and confidence they need to address common misconceptions, promote inclusive language, and encourage more accurate and authentic representations of these experiences on screen.

Curriculum and Assessment Review

Our response to the government's Curriculum and Assessment Review,

in which we encourage the government to introduce amendments to the National Curriculum to embed statutory topics on race, migration and the British Empire, supplemented by the development and promotion of appropriate classroom resources and teaching guidance materials.

Alongside this, we urge the Department for Education to establish formal structures of training and accreditation for Initial Teacher Education on anti-racism.

Asylum in the UK: a frontline for racial justice

In this joint briefing with Refugee Action, we highlight the urgent need to address systemic racism in the UK’s hostile asylum and immigration policies, and call on political leaders to make a systemic shift on narrative, policy and practice, putting an end to the hostile environment.

All Party Parliamentary Group (APPG)

Following the general election, the APPG on Race and Community has been reinstated, with 23

Parliamentarians as Members and Officers and an ambitious programme focusing on diversifying the curriculum and the launch of the Climate Inquiry. We recently launched Amnesty International’s Automated Racism report, with speakers including Ilyas Nagdee, Director of Racial Justice at AI UK, and Dr Patrick Williams.

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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. Of particular note, Shabna Begum appeared on BBC Politics Live, and various team members wrote opinion pieces on topics ranging asylum policies, community cohesion in the wake of the racist riots, and the two-tier policing myth.

In 2024 we continued to develop our digital presence, maintaining over 117,000 active users for our website, a growing social media following of over 82,400 people, and a mailing list of just under 16,000 people.

supported. We increased our instagram following by almost 25% during this period. We are continuing to work to develop our brand and digital channels to attract and appeal to new, diverse audiences and supporters for racial justice work in the UK.

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 were subject to a right-wing media attack in the last quarter of the year, about a particular social media post which was published on the X platform and which resulted in the Board's decision to submit a serious

Following the outbreak of racist riots in August 2024, we coordinated a social media campaign to challenge the rhetoric that this violence was detached from our political leadership and mainstream media. We projected a video on to parliament, featuring Misan Harriman, which gained over 10,000 likes on Instagram, and generated news interest, and created other visual assets which were widely

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incident report to the Charity Commission. We conducted a review of our social media policy and withdrew from the X platform as had many other racial justice charities. The Charity Commission conducted their review and provided advice and guidance to the Trust. We welcomed the considered advice they provided alongside their decision that no further regulatory action was required.

Fundraising and partnerships

As with the previous year, 2024 has not been an easy year in the charity sector, and the cost of living crisis ripples out through the sector as funding becomes more competitive and the need is greater. Fortunately, we have continued to maintain our steady funding base and have prioritised developing our income generation and diversification targets as part of our new strategy.

We have continued to progress relationships with our partners Penguin Random House, Health Foundation and Oak Foundation as well as developed new relationships with Aziz Foundation, Islamic Relief and Diaspora Alliance.

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 Aquila Family Trust Aziz Foundation Esmee Fairbairn Freelands Foundation Joseph Rowntree Charitable Trust Joseph Rowntree Reform Trust New Economics Foundation Oak Foundation Paul Hamlyn Foundation Trust For London

We have been fortunate to renew funding from Esmee Fairbairn and Paul Hamlyn Foundation on new terms and with increased grant lengths. We are also in conversation with our funders Joseph Rowntree Charitable Trust and Unbound to renew grants that are due to come to an end in 2025. Sadly Aquila Trust will no longer fund us as their policy does not exceed a three year term of successive funding for any organisation.

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TRUSTEES' REPORT

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 deficit of £507k versus a net deficit of £250k in 2023. The net deficit for 2024 was £70k over the planned deficit of £437k. We are continuing to seek and gain new grants and partnerships to continue and expand our work and for 2025 there is a further planned operating deficit as the charity will continue and conclude multi-year projects with restricted funding.

Following a review of our reserve policy, we have designated £467k to an investment fund with a view to support some strategy development work in 2025 and 2026. 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 42-43 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.

Designated funds stand at £469k (2023: £916k). 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. As agreed during 2024 by the Trustees, we have designated £458k to support strategic development in 2025 and 2026. These designated funds are held as cash investments.

Income

Recognised income for the year was £986k which is a decrease of £138k from the prior year total of £1,125k.

Expenditure

Total resources expended increased to £1,493k (2023: £1,375k) reflecting the growth in organisational size and capacity and the completion of several restricted fund projects.

Funds

Net deficit of £507k (2023: £250k) resulted in total funds of £1,681k as at 31 December 2024 (2023: £2,181k).

As at 31 December 2024 the level of general unrestricted reserves was £760k (2023: £491k) which exceeds the reserve policy minimum target. We plan to expend additional unrestricted reserves as part of a phased drawdown of larger than usual donations in 2022 and we are working towards a planned deficit in FY2025.

Restricted funds as at 31 December 2024 stand at £452k (2023: £781k) which represent the fixed assets purchased with restricted funds along with several ongoing and multi-year projects. Details can be found in note 14 of the accounts.

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 £294k based on the

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budgeted average monthly unrestricted expenditure for 2025 (£98k). At 31 December 2024, the level of unrestricted reserves available for use was £760k which aligns with the current reserve policy. We are budgeting for a further planned deficit in 2025 which will further reduce reserves.

Post year-end, at the June 2025 Board meeting, trustees agreed to amend the reserves policy to provide at minimum, three months cover against all regular expenditure, across both unrestricted and restricted activities, to better mitigate the risks around income fluctuations across all our work. As a result of this change the free reserves required have increased to £435k.

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.

TRUSTEES' REPORT PAGE | 24 ~~Sts~~

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PLANS FOR 2025

Our upcoming plans in 2025 include the following:

Research

To counteract regressive attacks on anti-racist work and build the evidence base to demand structural racial justice changes.

Communications

To build the visibility of our work and appeal to a wider range of audiences in creative, accessible and engaging ways, in order to foster increased understanding and support for transformative racial justice work.

Engagement

Policy

To develop our insider/outsider policy influencing role to aid the development of short and long term legal and political frameworks that support racial justice priorities.

To create, maintain and nourish ‘communities of anti-racism’ through regional and issue based networks that can extend the reach and benefit of our work.

Operations

To consolidate and optimise internal systems and processes, and address staff development needs in order to enable the organisation to function effectively and become financially sustainable.

Key thematic areas of work in 2025:

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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 who are responsible for planning, directing, and controlling the day-to-day 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 2024, Trustees delegated the day-to-day management of Runnymede to Dr Shabna Begum, Interim Chief Executive until May 2024 and then to her in her permanent capacity for the remainder of the year. The ongoing day-to-day running of the organisation is delegated to members of the Runnymede leadership team.

Induction and 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 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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We aim to work with all stakeholders and political parties on matters of race and community and have developed robust media lines coupled with response plans to deal with negative or hostile coverage. Staff turnover including operational impact of the loss of key skills and additional recruitment and training costs - The trust aims to minimise this risk by providing clear role descriptions linked to a salary band coupled with a robust performance appraisal and feedback system. The Senior Leadership Team provides developmental and pastoral support alongside regular reviews of salary and other benefits. Future fundraising compromised by high reserves following higher than expected income in FY2023 and therefore higher reserves - Trustees have designated some reserves towards a strategy development budget to help support the delivery of the new 2025-2030 strategy.

Trustees/Directors Indemnity Insurance

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.

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.

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TRUSTEES' REPORT

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees (who are also directors of Runnymede for the purposes of company law) are responsible for preparing the trustees’ annual 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 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:

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.

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 2024 was 14 (compared to 9 in 2023). The trustees are members of the charity, but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

PAGE | 30

The trustees’ annual report and accounts has been approved by the trustees on 02 June 2025 and signed on their behalf by;

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

Name: Professor Dame Donna Kinnair Position: Chair, Board of Trustees

PAGE | 31

PAGE | 32

TRUSTEES' REPORT

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number: 03409935 (England and Wales)

Registered Charity number: 1063609 (England and Wales)

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

PAGE | 33

TRUSTEES' REPORT

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees

Dame Donna Kinnair (Appointed April 2024) Hossein Zahir KC

DAME DONNA

KINNAIR (CHAIR)

Dr Maya Goodfellow Farah Elahi Professor Iyiola Solanke Lai-Har Cheung

Resigned Trustees 2024

Sir Clive Jone (Chair) (Resigned April 2024) Professor Jason Arday (Resigned November 2024)

HOSSEIN ZAHIR KC

DR MAYA GOODFELLO W

Hepburn Harrison-Graham (resigned November 2024)

Newly appointed Trustees 2025

Kafui Tay (10th March 2025) Geethanjalie Rosemarie Paul (10th March 2025)

FARAH ELAHI

PROFESSOR IYIOLA SOLANKE

Dr Aaron Zave Winter (10th March 2025) OBE FRSA Patricia Keiko Hamzahee (10th March 2025) Victoria Wright (10th March 2025)

Senior Management

Shabna Begum (CEO) Shalena Haughton-Peters (Operations Director)

LAI-HAR CHEUNG

KAFUI TAY

Auditors

Sayer Vincent, 110 Golden Lane, London EC1Y 0TG

GEETHANJALIE ROSEMARIE PAUL

DR AARON ZAVE WINTER

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

PATRICIA KEIKO HAMZAHEE

VICTORIA WRIGHT

PAGE | 34

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 2024 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:

Have been prepared in accordance with the requirements of 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.

PAGE | 35

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.

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:

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

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:

PAGE | 36

Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

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

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

PAGE | 37

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:

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: 16 July 2025

for and on behalf of

Sayer Vincent LLP, Statutory Auditor� 110 Golden Lane, LONDON, EC1Y� 0TG

PAGE | 38

THE RUNNYMEDE TRUST

STATEMENT OF FINANCIAL ACTIVITIES - FOR THE YEAR ENDED 31 DECEMBER 2024 including an income and expenditure account

Notes
INCOME FROM:
Donations
2
Charitable activities
3
Policy & Research
Engagement & Communications
Investments
Legacy
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
£
£
92,348
-
394,413
386,571
4,167
-
43,785
-
59,656
-
5,499
-		 2024 Total
£
92,348
780,984
4,167
43,785
59,656
5,499
986,439
42,178
1,068,546
382,653
1,493,377
(506,938)
-
(506,938)
2,187,998
1,681,060		 Unrestricted
Restricted
£
£
114,837
-
342,203
550,779
74,394
2,713
37,903
-
-
-
1,991
-
571,328
553,492
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		 2023 Total
£
114,837
892,982
77,107
37,903
-
1,991
599,868
386,571		 1,124,820
42,178
-
350,592
717,954
382,653
-
775,423
717,954
(175,555)
(331,383)
(2,327)
2,327
(177,882)
(329,056)
1,406,893
781,105
1,229,011
452,049		 66,805
1,104,330
204,053
1,375,188
(250,368)
-
(250,368)
2,438,366
1,406,893
781,105		 2,187,998

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.

39

THE RUNNYMEDE TRUST

STATEMENT OF FINANCIAL POSITION - AS AT 31 DECEMBER 2024

Note
Fixed assets
Intangible assets
9
Tangible fixed assets
10
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		 £
8,798
18,574
146,383
1,610,351
1,756,734
(103,046)
469,115
759,896
2024		 £
27,372
1,653,688
1,681,060
452,049
1,229,011
1,681,060
 £
10,998
25,174
88,952
2,181,476
2,270,428
(118,602)
915,847
491,046
2		 £
36,172
2,151,826
023
2,187,998
781,105
1,406,893
2,187,998

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 02 June 2025 and signed on behalf of the board.

Dame Donna Kinnair Chair, Board of Trustees Date: 02/06/2025 The notes on pages 42-48 form part of these financial statements. Company no: 03409935 Charity no: 1063609

40

THE RUNNYMEDE TRUST

STATEMENT OF CASH FLOWS - FOR THE YEAR ENDED 31 DECEMBER 2024

Reconciliation of net movement in funds to net cash inflow from operating activities
Net (expenditure) / income for the year
Adjustments:
Depreciation charges
Increase 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
2024
2,181,476		 2024
£
(506,938)
8,799
(57,431)
(15,556)
(571,125)
-
-
-
-
(571,125)
2,181,476
1,610,351
Cash Flows
(571,125)
(571,125)		 2023
£
Restated
(250,368)
9,181
42,336
26,710
(172,141)
-
-
-
-
(172,141)
2,353,617
2,181,476
At 31 December
2024
1,610,351
2,181,476 1,610,351

41

THE RUNNYMEDE TRUST NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2024

b Basis of preparation 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.
c Public benefit entity
The charity meets the definition of a public benefit entity under FRS 102.
d Going concern
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.
e Income recognition
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.
f Donated services
Donated goods and services are included at the value to the charity where this can be quantified.
g Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon
notification of the interest paid or payable by the bank.
h Fund accounting
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.
i Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be
required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
Costs of raising funds relate to the Costs incurred by the charity in inducing third parties to make voluntary contributions to it, as well as the cost
of any activities with a fundraising purpose
Expenditure on charitable activities includes the costs of research projects, policy work, engagement and communicationsundertaken to further
the purposes of the charity and their associated support costs. Irrecoverable VAT has been analysed and apportioned within premises and support costs.
j Allocation support costs
Premises and support costs comprise all services centrally. Salaries included in support costs are allocated between charitable activities
and fundraising costs, using an estimate of time spent by staff on dealing with those areas.
Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and
statutory requirements and include any costs associated with the strategic management of the charity’s activities.
k Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
l Tangible assets, and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Assets are not capitalised below £1,000 per item. Depreciation
is provided at the following rates in order to write off the cost of the assets over their estimated useful lives:
Plant and Machinery
20% reducing balance
Fixtures and Fittings
20% reducing balance
Computer equipment
20% reducing balance
m Intangible assets and amortisation
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
n Fixed asset investments

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.

42

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2024

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.

Cash at bank and in hand includes cash and short-term, highly liquid investments with a maturity of three months or less from the date of opening of the deposit or similar account.

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.

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.

43

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2024

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)
12,792
Direct activity costs
1,578
Recruitment costs
-
Consultancy costs
-
Property costs
-
IT costs
1,063
Legal & professional fees
-
Office costs
-
Depreciation and amortisation
-
Irrecoverable VAT
-
Other costs
-
15,433
Support costs
23,867
Governance costs
2,877
Total expenditure 2024
42,178
Total expenditure 2023
66,805
4b
Analysis of expenditure (prior year)
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 2023
5
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		 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)
12,792
Direct activity costs
1,578
Recruitment costs
-
Consultancy costs
-
Property costs
-
IT costs
1,063
Legal & professional fees
-
Office costs
-
Depreciation and amortisation
-
Irrecoverable VAT
-
Other costs
-
15,433
Support costs
23,867
Governance costs
2,877
Total expenditure 2024
42,178
Total expenditure 2023
66,805
4b
Analysis of expenditure (prior year)
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 2023
5
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		 Unrestricted
£
92,348		 Restricted
£
-
-
Restricted
£
386,571
-
386,571
-
-
-
-
Engagement &
Communication
£
214,084
23,461
-
-
-
9,417
-
-
-
-
1,969
ble Activities		 2024 Total
£
92,348
92,348
2024 Total
£
664,071
116,913
780,984
-
4,167
-
4,167
Governance
£
8,475
-
28,450
-
-
-
20,624
-
-
-
-
57,549
-
(57,549)		 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
Support costs
2024 Total
£
£
309,598
1,097,234
-
143,968
20,757
51,116
5,375
23,050
33,773
33,773
21,381
34,999
-
20,624
9,555
9,555
8,799
8,799
33,462
33,462
34,641
36,798
477,340
1,493,377
(477,340)
-
-
-
-
1,493,377
-
-
Governance
Support costs
£
£
10,521
187,012
-
-
17,385
26,552
-
15,000
-
29,684
-
17,201
16,121
-
-
8,951
-
9,179
-
42,573
-
20,646
44,027
356,798
-
(356,798)
(44,027)
-
-
-
2024
£
8,799
31,549
1,830
14,000
-		 2023 Total
£
114,837
92,348 114,837
Unrestricted
£
277,500
116,913		 2023 Total
£
763,369
129,613
394,413 892,982
-
4,167		 70,623
5,487
997
4,167 77,107
Charita 2023 Total
£
956,373
111,238
56,021
77,364
29,684
36,960
16,121
8,951
9,179
42,573
30,724
Policy &
Research
£
552,285
118,929
1,909
17,675
-
3,138
-
-
-
-
188
15,433
23,867
2,877		 694,124
334,138
40,284		 248,931
119,335
14,387		 1,375,188
-
-
42,178 1,068,546 382,653 -
66,805 1,104,330 204,053 - 1,375,188
Raising funds
£
43,910
2,182
-
-
672
-
-
-
-
-		 Charitable Engagement &
Communication
£
85,013
12,868
-
1,357
-
1,672
-
-
-
-
2,937
Activities		 2023 Total
£
956,373
111,238
56,021
77,364
29,684
36,960
16,121
8,951
9,179
42,573
30,724
Policy & Research
£
629,917
96,188
12,084
61,007
-
17,415
-
-
-
-
7,141
46,764
17,840
2,201		 823,752
249,759
30,819		 103,847
89,199
11,007		 1,375,188
-
-
66,805 1,104,330 204,053 1,375,188
2023
£
9,181
27,486
2,190
14,000
-

44

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2024

6
Staff costs
2024
£
Salaries and wages
956,645
Social security costs
96,165
Pension costs
44,426
1,097,236
The following number of employees received employee benefits (excluding employer pension costs and employer national insurance) during the year
between:
2024
£60,000-£69,999
0
£70,000-£79,999
1		 2023
£
845,357
92,358
18,658
956,373
2023
2
0

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £168,858 (2023: £210,422).

No trustees received remuneration or any other benefits from employment with the charity in the year (2023: £nil). No trustee received payment for professional or other services supplied to the charity (2023: £nil).

Trustee expenses represent the payment or reimbursement of travel and subsistence costs totalling £nil (2023: £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 24 (2023: 23) which corresponds to 19 whole time equivalent employees (2023: 20). Staff are allocated across the activities of the charity as follows:

Research
Policy
Engagement
Communications
Operations
Fundraising		 2024
10.1
3.0
2.0
3.0
0.2
0.2
18.5		 2023
10.0
4.0
2.0
3.0
0.2
0.9
20.1

8 Related Party Transactions

There are no related party transactions to disclose for the financial year, except for a trusteee who is also a trustee of Joseph Rowntree Foundation for both the current year and previous year. Detail of any related transactions may be found in note 14a and 14b.

9 Intangible assets

Intangible assets
Cost at 1 January 2024
Additions
Disposals
Cost at 31 December 2024
Amortisation at 1 January 2024
Charge for the year
Disposals
Amortisation at 31 December 2024
Net book value as at 31 December 2024
Net book value as at 31 December 2023		 Website
£
16,152
-
-
16,152
5,154
2,200
-
7,354
8,798
10,998		 Total
£
16,152
-
-
16,152
5,154
2,200
-
7,354
8,798
10,998
Cost at 1 January 2024
Additions
Disposals
Cost at 31 December 2024
Depreciation at 1 January 2024
Charge for the year
Disposals
Depreciation at 31 December 2024
Net book value as at 31 December 2024
Net book value as at 31 December 2023		 Office
Equipment
£
4,589
-
(665)
3,924
1,991
783
(665)
2,109
1,815
2,598		 Computer
Equipment
£
33,071
-
(5,083)
27,988
10,496
5,816
(5,083)
11,229
16,759
22,576		 Total
£
37,660
-
(5,748)
31,912
12,487
6,599
(5,748)
13,338
18,574
25,174

All of the above assets are used for charitable purposes.

45

THE RUNNYMEDE TRUST NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2024

11
Debtors
Trade debtors
Other debtors
Prepayments
Accrued income
Social security and other taxation
All amounts shown under debtors fall due for payment within one year.
12
Creditors: Amounts falling due within one year
Trade creditors
Other creditors
Accruals
Deferred income
Social security and other taxation
13a
Analysis of net assets between funds (current year)
Restricted funds
Designated funds
General funds
13b
Analysis of net assets between funds (prior year)
Restricted funds
Designated funds
General funds		 Fixed Assets
£
16,257
11,115
-
27,372
Fixed Assets
£
20,325
15,847
-
36,172		 Investments
£
-
-
-		 2024
£
12,168
7,246
25,369
101,600
-
146,383
2024
£
6,999
-
58,082
-
37,965
103,046
Net Current
Assets
£
435,792
458,000
759,896
1,653,688
Net Current
Assets
£
760,780
900,000
491,046
2,151,826		 2023
£
48,174
9,059
31,589
130
-
88,952
2023
£
43,393
-
52,917
12,500
9,792
118,602
Net assets at 31
December 2024
£
452,049
469,115
759,896
- 1,681,060
Investments
£
-
-
-		 Net assets at
31 December
2023
£
781,105
915,847
491,046
- 2,187,998

46

THE RUNNYMEDE TRUST

NOTES TO THE ACCOUNTS - FOR THE YEAR ENDED 31 DECEMBER 2024

14a
Movement in funds (current year)
Restricted funds:
Fixed asset fund
Virgin - Policing
Virgin - Community Empowerment Network
Virgin - Migration
Trust for London
New Economics Foundation
Joseph Rowntree Charitable Trust
Aziz Foundation
Islamic Relief
Youth Futures Foundation
Unrestricted funds:
Designated funds:
Fixed asset fund
Communication Strategy
Operations & Governance
Research, Policy & Engagement
Investment fund
General funds
Total unrestricted funds
Total funds
14b
Movement in funds (prior 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		 At 1 January 2024
Income & gains
Expenditure &
losses
Transfers
At 31 December
2024
£
£
£
£
£
20,325
-
(4,064)
-
16,261
141,110
-
(94,661)
-
46,449
144,506
-
(115,772)
-
28,734
179,688
-
(139,859)
-
39,829
43,176
75,000
(64,578)
-
53,598
247,125
305,371
(285,318)
-
267,178
5,175
-
(5,175)
-
-
-
6,200
(6,521)
321
-
-
-
(1,908)
1,908
-
-
-
(98)
98
-
781,105
386,571
(717,954)
2,327
452,049
15,847
-
(4,732)
-
11,115
-
-
-
300,000
300,000
-
-
-
96,000
96,000
-
-
-
62,000
62,000
900,000
-
-
(900,000)
-
915,847
-
(4,732)
(442,000)
469,115
491,046
599,867
(770,690)
439,673
759,896
1,406,893
599,867
(775,422)
(2,327)
1,229,011
2,187,998
986,438
(1,493,376)
-
1,681,060
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

14c Purposes of designated funds

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.

47

14c Purposes of restricted funds

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

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

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

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

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

Azia Foundation - support towards work on Islamophobia

Islamic Relief - support towards work on Islamophobia

Youth Futures Foundation - support research into youth employment and racial inequalities

14c Purposes of general funds

General Funds - represent funds available for use at the charities discretion. During the year funds were released to support some restricted fund projects.

15 Financial Commitments

The operating lease charge for 2024 was £33,380 (2023: £29,676). At 31 December 2024 the charity's minimum commitments over the life of non-cancellable operating leases were as follows;

Less than one year
One to five years
Total		 2024
2023
£
£
12,133
33,043
-
13,199
12,133
46,242
Property		 2024
2023
£
£
5,865
2,190
19,862
535
25,727
2,725
Equipment		 2024
2023
£
£
5,865
2,190
19,862
535
25,727
2,725
Equipment
2,725

16 Prior Period Adjustment

The investments were re-analysed to cash as it is intended to use for operating costs and projects on an ongoing basis.

48

RU YMED= Intelligence for a multi-ethnic Britain