RACE ON THE AGENDA Company No: 3425664 Charity No: 1064975 rota Financlal Statements and Trustees, Report forthe year ended 31 March 2024
Race on the Agenda Index Pa Contents Index Legal and Administrative Details Trustees Report Independent Examinerfs Report io Statement of Financial Activities li Balance Sheet 12-19 Notes to Accounts
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Race on the Agenda Status- Company Limited by Guarantee No. 3425664 Charity registration No. 1064975 The Company's governing document is its Memorandum and Articles of A550ciation dated 15 Dernber 2008 Secretary and registered office- Michael Buraimoh (left May 2024) Resource for London 356 Holloway Road London N7 6PA Tel: 020 7697 4093 Website: ww.rota.org.uk Email: rota@rota.org.uk Facebook: facebook.com/ROTA.orgl Twitter: twitter.comlraceonthea£enda Trustees: Ali Ahmed (Chair) Gifford Sutherland (Treasurer) Lorraine Dongo (Wice-Chair} Dr. Tele Amuludun Jasber Singh (Resigned 5 Sept 2024) Kadra Abdinasir Dr Ariel Breaux (Joined 5 Sept 2024) Bakari Ukuu {Joined 5 Sept 2024) Fevzi Hussein (Joined 5 Sept 2024) Michelle Daley (Joined 5 Sept 2024} Independent Examiner: A.A Boafo-Brewu. FCCI MBA Augustus & Co Chartered Certified Accountants 374 Ley Street Ilford, Essex IGI 4AE Bankers: Unity Trust Bank plc Nine 8rindleyplace Birmingham BI 2HB
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Race on the enda Trustees. report for the year ended 31 March 2024 The trustee5 are pleased to present their annual directors, report together with the financial statements of the charity for the year ended 31 March 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the tharities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015). Structure. governance and management ROTA is a registered charity (No. 1064975) and a company limited by guarantee (No. 3425664), governed by a memorandum and articles of association. The company has an executive committee, known as the board of tTUStees. of not less than three people including: the honorary officers, Chair. Vice Chair and Treasurer. trustees elected by ROTA members. trustees co-opted by the board of trustees. The business of the company is managed by the board of trustees. The board has also established three sukKommittees which meet in addition to scheduled general board meetings (bi-monthly). These are: Human re50urce5 sub-committee (meets ad hoc)- Finance sub-committee (meets bi-monthly): Communications sub-committee (meets at least twice a year). Governlng document The organisation is a charitable company limited by guarantee, incorporated on 27 August 1997 and registered as a charity on 22 October 1997. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Memorandum and Articles of Association were amended by Resolution dated IS December 2008. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Recruitment and appointment of trustees The directors of the company are also charity trustees for the purposes of charity law and under the companvs Articles are known as directors. At each annual general meeting one-third of the
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 directors or. if their number is not three or a multiple of three. the number nearest to one third must retire from office and offer themselves for re-election. The board has agreed a policy and procedure forthe recruitment and selection of new member5. Vacanciesforelected and co-opted Board members are advertised although candidates may also be identified through networking or contscts. Advertisements are based on the role description and any skills gaps identified through the most recent board skills audit. During the year 2023124, there were no new board members joining or any resignations. There were 6 registered Board members atthe end of the year, 31 March 2024. Trustee induction and training Board members are already familiar with the practical work of the charity having been on the board forseveral years and having had experience of working in or with the Third sector. Further policies and procedures for the induction and training of new trustees have been developed. agreed and implemented bythe Board. New members of the Board can attend courses in -Roles and Responsibilities of Trustee organised by the Directory of Social Change. Copies of ROTA publications are distributed to all new board members alongwith the Memorandum and Articles, the latest financial statements, The Charity Commission publication -Essential Trustee", the NCVO publication "Code of Good Governance", the ROTA business plan. the Charity Commission guide on conflict of interest Chaiity Commission Declaration Form and the ROTA flier. Rlsk management The board of trustees and Chief Executive regularly review ROTA'S activities and identify the risks to which it is exposed. those related to operations and finances. This process involves identifying the risks and prioritising them in terms of potential impact and likelihood of occurrence. Controls to prevent or minimize the risks are identified. together with deadlines for their implementation. The risk register is revtewed by the board of trustees annually. Objertives and activities Summary of the objects of the charity The object for which the company is established is: o work toward5 the eliminatton of nKial di5crimlnation and to promote equality ol opportunity. human rlght5 and good relations between persons of different groups" (ROTA memomndum olassoclatlonj. ROTA 15 one of Britain's leading expert organisations on -race- equality, focusing on issues that affect Black and Global Majority communities. Originally set up in 1984 as GLARE (Greater London Association for Race Equality) ROTA renamed itself and adopted a new constitution in 1997.
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRU5TEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 ROTA aims to create a just and equitsble Britain. working with communities to eliminate systemic racial injustices, We do this by carrying several strategic proJects and through action research on various aspects of the many the Black and Global Majority communities throughout the UK. Summary of the Tnain activities in the period of 2023 - 2024 ROTA retained its mission on the charitable objective by providing a unique combination of frontline and infrastructure services to all Black and Global Majority led organisations and Black and Global Majority people, paying particular attention to those who tend to be marginalised or excluded. ROTA focused its attention on exploring and securing fvnding new funding to sustain the organisation, without the leadership of a Chief Executive. for over half of the year. Some of ROTA'5 funding is restricted to London but we also operate more widely in England and our move to providing virtual setvices meant our reach was national. ROTA'S services in 2023 - 24 can be grouped under four categories: a) Policy Development. Volce and Representstion of issues affecting Britain's Black and Global Majority communities by developing responses to consultations and legislative changes, sitting on policy bodies and by 5UPPOrting staff of other Black and Global Majority and equality organisations to sit at the decision-making table. Attending steering group meeting at Equalty Ours and HEAR Network are prime examples of this. b) Infonnation. Research and Awareness Raising through innovative research and publications, producing articles. blogs and external papers. holding events, attending and speaking at external events and meetings. campaigning and providing specialised support. consultancy and advice. We held our annual conference. chaired by Professor Gus John and presented the finding from our research report oh Yhwarted Ambition<. c) Medla representation and thought leadership ROTA continued to be present in media. Our CEO made 2 media appearances. d) Projects for Capaclty-building and Skills Development We held 2 membership engagement session5 and analysed a membership survey Addttional information on objectives and activitles Volunteers Volunteers play a vital role in our work. During the year, our Education Poliry Researcher volunteer, supported ROTA who committed over 700 hours.
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 ROTA Membershi ROTA membership continuedtogrow. resulting tn a 0.07% increase. composed of both individual and organisational tnembership. 2023/24 saw 2 new membersjoin ROTA with the total the total ROTA membership at the year being 2.688. We continue to develop our online presence with over IOK Twitter followers and over 847 Fabook page followers. Fundraisin During the period we secured £49k of legacy donation and submitted a number of furbding prop05als. We renewed our contract with Airbnb to continue. as an part of their UKTrust and Safety Alliance. We secured Strategic Initiative funding from City Bridge Foundation and Paul Hamlyn to begin the recruitment of a new Chief Executive. We initiated our Propel Project by recruiting a Training and Engagement Manager and a Research and Policy Coordinator. We inttiated strategic planning for a new organisational strategy. We successfully recruited a new CEO in December. We secured a Planning Grant from Oak Foundation for the initiation of our Housing Project work. With our increased output of funding bids. we secured fvnding from W Bridge Foundation and Paul Hamlyn and recruiting a Chief Executive in December 2023. In January 2024, our Propel project began with the recruitment of a Research and Policy Coordinator, followed by the recruitment of a Training and Engagement Manager in March 2024. We continue to explore further long-term core funding. INFORMATION. RESEARCH AND AWARENESS RAISING= Our principal targetgroups continueto be The Black and Global Majority communities. anti-racist voluntary organisations. policy makers in government and public sector bodies. and funders. We believe in evidence-based policy. We disseminated information and increased awareness of issues affecting the Black and Global Majority communities and other equality groups through: In-house publications: Produced l email newsletter Research Publications, l online blogs and I Policy E-Newsletters. ROTA events: In May2023. Professor Gus John chaired ROTA'S conference on "Thwarted ambitions" Why do some students chooseto withdraw from Universtty?. The conference discussed ourPilot Studyon Higher Education indicatingthat UK-domiciled students from Global Majority and Gypsy, Roma and Travellercommunitxes are rnore likelyto withdraw from university than white students. Consultancy and advice- ROTA provided advice and support to public. private and third sector organisations and individuals. We advised on the development of most recent research project for the Herriot Watt University on the Race and Homelessness programme. where we served on the advisory board.
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 External events: ROTA staff continue to attend online and in-person events. SKILLS DEVELOPMENT: ROTA aims to Increase the capacity of Black and Global Majority and equality organisations to get engaged in policy. develop partnerships and learn from best practice. We also aim to increase the skills and knowledge of Black and Global Majority individuals to fight discrimination and become champions in helping to promote equality of opportunity. Financial revlewThe financial position of the charity, at the end of the financial year 15 a5 set out in the attached financial Statements. Investment policy The trustees are committed to using and maintaining reserves prudently. As a result of this and the current financial climate ROTA does not invest in medium- and long-term markets. Our reserves are placed in a 'risk free. savings account with Unity Trust Bank. The investment is monitored on a weekly ba515. Reserves policy The board of trustees has examined the ch3ritrf5 requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 and 6 Months of the annual expenditure. The reserves are needed to meet the working capital requirements of the charity. and the Board are confident that at this level they would be able to continue the current activities of the charity in the event of a significant drop in funding. At the year-end, unrestricted funds amounted to £120,387, of which £55,387 represented general funds. The trustees have designated the remaining £65.000 for the winding down Df the charity in an orderly manner. should it become necessary.
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Statement of trustees, responsibilities The trustees (who are directors of the charitable company for the purpose 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 requiresthe trustees to prepare financial ststements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources. including income and experKliture of the charitable company for that period. In preparing these financial statements, the trustees are required to: a) select suitable accounting policies and apply them consistently: b) observe the methods and principles in the Charities SORP. c) make judgements and estimates that are reasonable and prudent. dl state whether applicable UK accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements," e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting record5 that disclose with reasonable accuracy at any time the financial position of the charitsble 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. The trustees are responsible for the maintenance 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. Independent Examlner A resolution to reappoint AUgusS & Co, Chartered Certified Accountants, as the Independent Examiner of the company will be proposed at the Annual General Meeting. This report which has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the CompaniesAct 2006, was approved by the board on 28 October 2024 and signed on its behalf by: IAhmttlNtriI3.1024 13ylA&I Ali Ahmed {Chair and Trustee)
RACE ON TrIE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examlnerfs Report to the Directors of Race on the Agenda I report to the trustees {who are also Directors for the purpose of company law) on rny examination of the financial statements of Race On The Agenda ('the charitable companv) for the year ended 31 March 2024 whith comprise the Statement of Financial Activities, the Balance Sheet and related note5. This report is made soleEy to the charitfs trustees. as a body. in accordance with sertion 145 of the Charities Act 2011. My work has been undertaken so that I might state to the ch3riVs trustees those matters l am required to state to them in this rewrt and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charlS trustees as a body. for my worL for this report, or for the opinions I have formed. Responsibilities and basis of report As the trustees of charitsble company. you are responsible forthe preparation of the financial statements in accordance with the requirements of the Companies Act 2006 { the 2006 Act'l. Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respett of my examination of the charitable compan•ls financial statements carried out under section 145 of the Charities Act 2011 ('the 2011 Arf) and in carrying out my examination I have followed all the applicable Direttions given by the Charity Commission under Section 145(5)Ibl of the 2011 Act. An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not coverall the matters that an auditorconsider5 in givingtheiropinion on the financial ststements. The planning and conduct of an audit Eo beyond the limited assurance that an independent examination can provÉde. Consequently, l express no opinion a5 to whether the financial statements present a 'true and fairf view and my report 15 limtted to those specific matters set out in the independent examinerf5 StatemenL Independent examinerfs statement If the charitable companVs gross income exceeds £250,000 your examiner must be a member of a body listed in sertion 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a memberof ACC4, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have corne to my attention in connection with the examination grving me cause to believe that in any material respect: accounting record5 were not kept in respect of the charitable company as required by section 386 of the 2006 Act. or
the financial statements do not accord wtth those re£d$. or the financial Statements do not comply with the accounting requirements of section 396 of the 2006 Act otherthan any requirement that the financial statements give a 'trueand fairview which Is not a matter considered as part of an independent examination: or the financial statements have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accountlng and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}. I have no concern5 and have come across no other matters in connection with the examination to which attention should be drawn in this report In order to enable a proper understanding of the financial statements to be reached. A A Boafo-Brewu IFCCA MBA) 374 Ley Street Ilford Essex IGI 4AE Augustus & Co Dated: l * lil 2024
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Statement of Financlal Actlvltles (Incorporating the Income and Expendlture Account) for the year ended 31 March 2024 Year etwjed 31 Mah 224 Yeurended31 Morch 2023 Restricted Unrestrtcred Funds Funds Re5tTiCted U4ryre5tricted Fund5 Funds Notes Total Totol Income from.. Donatior15 and IEgaae5 51AS6 51A56 3,813 3,813 Income from charitable actlvltles: Voluntary incorne Income from other activities: Fees and sundry 217.737 217.737 129,455 129.455 Z5,980 25,980 Investment income Total Income £217.737 £51A56 £269.193 £129.455 E29,793 £159,249 Expenditure: Raising funds 2.756 7,914 7,914 Charitsble activitie5 63.787 81.811 145.599 139.532 38.537 178,069 TotsIenditUre £66.475 .567 £1.043 £147.446 £38537 £185,983 Net Income IlexpÈndltureJ and net moveThent In funds forthe year 151.261 {33.1111 I17.9) 18.744) 126,7341 Retonaliatlon of fund5 Total funds brou8ht fornvard 153.498 153.498 17.990 162.241 180.232 Total funds ¢arrled forvfard £151,261 E120,387 £271,648 E153.498 E153.498 The Statement of Financial Activtties indudes all gains and bsses recognised in the year. All income and expenditure derive from continuing activities. Movements in funds are di5c105ed in Note 16 to the financial statements. io
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Balance Sheet as at 31 March 2024 2024 2023 Fixed assets Tangible assets Totalflxedossets 356 356 859 859 Current assets Debtors Cash at bank and in harKI rotal current 055ets 11.022 145,623 156.645 278.859 280.407 Creditors: amounts falling due withln one v 14 (9,115) 14.0061 Net current ossets/fllobllltlesJ 271,292 152,639 Total assets le55 current liabllltles 271.648 153,498 Net assets 271.648 153.498 The funds of the charity: Restrlcted funds Unrestricted funds- Designated funds General fund Total unrestricted funds 16 151.261 15 65.1)00 55.386 65.000 88.498 16 120,387 153,498 Totoltharrtyfvnds 271.648 153,498 The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to srnall companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their resporbsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordan with the provisions applicable to sm311 companies subject to the small companies, regime and in accordance with FRS102 SORP. These financial statements were approved by the board on 28 October 2024 and signed on its behalf by: AbArLrnEdlPi{I3.202I i*esGNI Director- Ali Ahmed (Chair and Trustee) Dirertor- Gifford Sutherland (Treasurer) Registered Company number 3425664. The note5 on page5 12 to 19 lorm part ofthese financial statements. 11
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Notes to the Financial Statements ft)r the Year Ended 31 March 2024 Accounting policies The principal accountlng policies are summari*d below. The accounting policies have been applied consistently throughout the year and in the preceding year. Basis of accountin The financial statements have been prepared in accordan 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) (effective l January 20151- (Charities SORP (FRS 1021, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2iJJ6. Fund accountin Unrestricted funds are available for use at the discretion of the trustee5 in furtherance of the general objective5 of the charity. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds are subject to restrictions on their expenditure impld by the donor or through the terms of an appeal. (iii) Incomin resources All incoming resources are included in the statement of financial activitie5 when the charity 15 entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of inciKne- Voluntary income is received by way of grants. donatio£ and gifts and is included in full when receivable. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Investment income is included when receivable. (iv) Resources ex ended Expenditure is accounted for on an accrual basis as a liability is inturred. Expenditure includes anv VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs a550ciated with attratting voluntary income. Charitable expenditure comprises those costs tncurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Govemante costs include those tosts associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of 12
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 the charity. All costs are allocated between the expenditure categories of the statement of flnancial activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly. others are apportioned on an appropriate basis. (v) reciation of Fixed assets Tangible fjxed assets are stated at C05t less accumulated depreciation. The cost of minor addition5 or those costing below £500 are not capitalised. Depreaation is provided at rates calculated to write off the cost of each asset over its expected useful life. The rates used are as follows.. Office and IT equipment 25% straight line A full year's depreciation is charged in the first year of use of the asset. (vi) Pension costs The company provides a workplace pension thmugh The People's Pension. For employees who do not join the scheme. the company contributes into their private pension schemes. Donations Year to 31 March 2024 Restricted Unrestricte Funds d Funds Year to 31 March 2023 Restricted Unrestrirted Funds Funds Total Tot¢71 Donations Legaaes 2.256 49.200 2.256 49,200 3.813 3.813 £51.456 £51.456 £3.813 £3.813 Grants Year to 31 March 2024 Restricted Unrestricted Funds Funds Yeor to 31 March 2023 Restricted Unrestricted Fund5 Fund5 Total Totol City Bridge Trust. Cornerstone Fund lty 8ridge Foundation- Core I City Bridge Foundation- Core 2 City Bridge Foundation - Propel Barrow Cadbury Trust Runnymede Trust Oak Foundation Paul Hamlyn Foundation 27.333 26,883 27.333 26,883 15,737 30.000 162.OQO 15.737 30.01)0 162.000 352 5,786 69.101 352 5,786 69,101 iO,(KJO 10.000 £217,737 £217,737 £129,455 £129,455 13
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Fees and other Incoming resources from charitable activities Yearto 31 March 2024 Re5trirted Unrestricted Funds Funds Year to 31 March 2023 Restrirted Unrestricted Funds Funds Total Total Fees and other services 25,980 25,980 £25,980 £25,980 Anaty5is Qf expenditure Year to 31 March 2024 Restricted Unrestricted Funds Funds Yet7r to 31 March 2023 Restricted Unrestricted Ful5 Funds Basis of Allocation: Unless stated allocated on a usage basis Total Total Charltable Artivities Direct Costs.. Wages and Salaries Employerfs Nl contributions Pension Costs Staff recruitment Staff travel and subsistence staff training Sessional Staff Volunteer expenses Trainingjworkshops Equipment and materials Publications/Promotion Consultancy Events Partnership payments Evaluation Rent and service charges ITsupport Office costs Depreciation charges Governance costs Isee note 71 48,777 3,604 1.381 10,346 50,705 1.882 2,535 5.493 74 99.•183 5.486 3,916 15,838 74 107.816 6,053 4,808 60 21.585 1,238 1,611 194 129.401 7,290 6,418 254 174 174 183 170 783 270 1.846 21 100 1.846 423 728 6,570 653 1,109 1500 6.504 3.522 700 3,684 28 972 440 6,598 1.625 1,549 2,5 6,504 10.266 700 7,174 503 1,380 4.226 4,226 1.841 9.877 11.717 6.744 103 6.797 503 69)0 503 1,966 3,490 503 1,380 Total £66,475 £84,567 £1,043 £147A46 £38,537 E185,983 14
RACE ON THE AGENDA FINANCIALSTATEMENTS AND TRU5TEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024 Net Income (Expenditure) 2024 2023 Net incoming resour5 is Stated after charging. Depreciation and other amounts written off tsngible assets Independent Examlnerfs fees 503 1.200 503 1.200 Total £1.703 £1.703 Year to 31 March 2024 Yeor to 31 Morch 2023 Restricted Unrestricted Funds Funds Restricted Unrestricted Funds Funds Total rotal Governante tosts Trustees. Costs Independent examinerfs fees AGM and Annual Report 131 L2 131 1,200 1,200 1,200 635 635 13 13 £1.966 £1,966 £1,213 £1,213 Yearto 31 March 2024 Restricted Unrestricted Funds Funds Ye¢7r to 31 March 2023 Restricted Unrestricted Fund5 Funds Total Totol Cost of ralsln8 funds Staff costs Fundraiser 2.688 2,756 7.914 7,914 £2,688 £2,756 £7.914 £7,914 Trustees and key management personnel remuneratlon and expenses The trustees did not receive any remuneration. Reimbursed expenses during the year £13112023: £0). The chzrity considers its key management personnel comprise the Board of Trustee5 and Its CEO. The total amount of employee benefits including employerfs pension contributions reiVed by key management personnel were £24.786 (2023: £24.851). 15
RACE ON THE AGENDA FINANCIAL sfATEMENTS AND TRuEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 io. Staff costs and employee benefits Staff costs were as follows: Gr055 salaries Employerfs national insurance Pension costs 99.483 5,486 3,916 129.401 7,290 6A18 £108.885 £143.109 The average number of full-time equivalent employees during the year wa5 2.4 (2023: 3.51 No employee received emoluments of more than £60,000 pa {2023: Nonel 11 Pension cort5 The company operates a defined contribution pension stheme in respect of its employees and make contribution into private pension plans of employees who have not joined the company's scheme. The scheme and tts assets are held by independent managers. The pension scheme charge represents contributions due from the company and amounted to £3.91612023: £6.418). 12 Tangible fixed assets Fixtures Fittin andE ment Com ui uter Total Costs At l April 2023 Additions 4512 30.407 34.919 At 31 March 2024 £4.512 £30.407 £34,919 Depreciation At l April 2023 Charge for the Year 4.512 29,548 503 34,060 503 At 31 March 2024 £4.512 £30.051 £34.563 Net book value At 31 March 2024 356 356 At 31 Morch 2023 £0 £859 £859 16
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUEE5. REPORT FOR THE YEAR ENDED 31 MARCH 2024 13 Debtors 2024 2023 Rent debtors Other debtors Prepayments Accrued income 757 757 751 102 £10.163 £1,548 £11,022 Creditors: amounts falllng due to within one year 2024 2023 Other creditors Accruals Social security taxes & per)sions Deferred income 1,426 6.849 1.380 2.626 £9.115 £4,006 15 Analysis of net assets between fvnds General funds nated funds Re5trtcted fund5 Total funds Tangible fixed assets Net Current assets 356 356 55,030 65.0(K) 151.261 271.292 Net assets at 31 March 2024 £55.386 £65,IM)O £151,261 £271,648 The trustees have designated £65,0(K) for the winding down of the charity in an orderly manner. should it become necessary. 17
RACE ON THE AGENDA FINANCIAL STATEMEKfs AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 16 Movements In funds Incomin Resources Out oin Resources Atl 2023 Transfers At31 Mar 2024 RestTiCted Funds: City Bridge Foundation- Core I City Bridge Foundation- Core 2 City Bridge Foundation- Propel Paul Hamlyn Foundation 15,737 30.OLXI 162,0(M) ,000 15,737 21,759 8.241 143,020 10.000 Total Restricted Funds £217,737 £66,475 £151,261 Unrestrirted Funds Fixed asset Fund Designated Funds General Funds 859 65,OlX) 87.638 503 356 65.(*JO 55,030 51,456 T¢)tsl Unrestrlrted Funds £153.498 £51.456 £84.567 £120.387 Totsl Funds 53.498 £269.193 £151,043 £271,648 17 Movements In Funds (contlnued) Purposes of restricted funds: City Bridge Foundation - Core I: has provided funding as contribution towards the core c05t5 of the organisation City Bridge Foundation - Core 2-. this fund is contributing tolwrdrds salary costs of the CEO. City Bridge Foundation - Propel: ha5 provided £500.0(X) over three years (£162,000; E167.000., £171,000). This funding wtll enable ROTA to expand Its delivery of collaborative peer-led research. developing long-term community policy solutions to combat structural racism in London. It will also improve our capacity to train and upskill members of Black and Global Majority-led groups across London, siipporting their combined strength, Vol and impact. Paul Hamlyn Foundation: provided funding toward5 the recruitment of 0 to deliver our strategy as a racial equity infrastrutture organization and to advocate for our communities. The fixed assets fund represents the reducing net b(x)k value of fixed a55ets purchased from restricted funds. In the opinion of the Trustees there are sufficient resources held to enable each fund to be applied in accordance with the restrictions imposed by the donor. 18 Related party dlsclosures There are no related party transactions for theyearended 31 March 2024 (2023: £nil). 18
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 19 Legal status of the charlty The charity is a company limited by guarantee and has no share pItal. In the event of the charity being wound Upi the liability in respect of the guarantee is limited to £1 per member of the charity- 20 Corporation Taxation The chartty is exempt from tax on income and gains falling within section 505 of the Taxes Att 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable activities. 19
RACE ON THE AGENDA FINANCIAL STATEMENTS AND TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2024 rotcx Resource for London 356 Holloway Road London N7 6PA Tel- 020 7697 4093 Website.. vJww.rota.org.uk Email: rota@rota.org.uk Facebook: facebook.com/ROTA.or8 Twitter.. twitter.corn/raceontheagenda