SIONEWALI EQUAIIIY IIMITED TRUSTEES, REPORT ANO FININCIII STATEMENTS FORilllE.'PERIOD ENDEO 31 MARCN,2021 'A4KIY15E• 24112rd021 C¢)MPANIES H(YJSE A17 4115 Regi5teied Charity No. 1101255ffngland and Wales) Registeied ClwityNo. SC0396811Scotlan(D
Charity Informatlon Trustees. annual report Independent auditors, report 14 Statement of financial activities 18 Balan sheet 19 Statement of cash flows 20 Notes to the finanoal Statements 21 Stonewall Twstees, report and financialsiat@menr$ 2019121
Ml Trustees Dunni Alao (appointed 30June 2021) Reeha Alder luntil 16 December 2020} Simon Blake (until 30 June 2021) Jean WRnney Cordeiro (appointed 16 December 2020) Catherine Dixon Louise Downe (apptsinted 30 June 20211 Gbolahan Faleye (appointed 30 June 20211 Jan Gooding {untll 30 September 2020) Ayla Holdom (appointed 30 September 2020) Adam Lake (appointed 30June 20211 Sheldon Mills Michele Oliver Andrew Pakes Kyle Ring (appointed 30 June 20211 Rosalyn Parker {until 28 April 2020) Tim Toulmln (until 31January 2021) Meredith Williams (until 30 June 2021) Moh5in Zaidi Chair Jan Goodin8 (until 28 April 2020) Sheldon Mllls (appolnted 28 April 20201 Treasurer Rosalyn Parker (until 28 April 2020) Meredlth Wllliams (from 28 Aprll 2020 until 24 March 2021) Jean Cordeiro (appointed 24 March 20211 Stonewall Trusiees. reportand financkilstatemenrs 2019121
Chief Executive Paul Tw(xock (Interim) luntil l June 2020) Nancy Kelley (appointed l June 2020) Secretary Andrew Pakes Company number 02412299 Charity number 1101255 SC039681 {England and Wales) Iscotland) Registered offKe and business address 192 St John Street London ECIV 4JY Auditors Saffery Champness LLP 71 Queen WKtoria Street London EC4V 4BE Bankers Barclays Bank plc I Churthill Place London E14 5HP Stonewall Trysiees. teyt and fin¢)I statemehts x)19121
Tl1¢8$,RVort Stonewall's trustees present their report and final statements for the period ended 31 March 2021. The statements appear in the format required by the Statement of Recommended Prartlce for Accountin8 and Reportin8 by Charities. The report and financial statements also comply with the Companies Art 21x16 as the company was incorporated by guarantee on 9 August 1989 as Thestonewall Lobby Group Lirnited. It changed its name to Stonewall Equaltty Limited on 10 February 2004, and uses Stonewall. whlch it will be referred to in this report, a5 its workin8 nome. It is a company limited by guarantee without share capital and is a registered charity. The reporting date chan8ed from that previously reported130 September) to 31 March to be in line with our Funders. reporting timescales. and to be aligned with the new strategic plan; this report therefore covers an extended accounting perlod from 30 September 2019 to 31 March 2021. Objectives and activities The core aim of the charity is to advance the freedom. equity and potential for lesbian, gay, bi, trans, queer, questioning and ace (LGBTQ+) people in the UK and worldwlde In line with our charltable objects, whith are, in summary. to promote human rights throughout the world, to promote equallty and dfversity in the UK, to relieve poverty, and to promote other charftable purposes. In short. we tma8ine a worfd where LGBTQF people everywhere a free to be themselves and can INe their lives to the fvll. At Stonewall we organlse our work around thr& tore stratewc pillars. These are: Freedom Equity Potential Th15 18-month perlod was covered by Stonewaifs 2017-20 Acceptance Wlthout Exceptlon Strategic plan, in which the charitys vision was of a world where everyone, everywhere, can be themselves and our misslon was to ensure that lesbian, 8ay, bi and trans (LGBTI people across the world can participate fully in Society as free and equal citizens. The strategy orEanlsed our artivtties into four 5trate8lc approaches: Changing and proterting laws Changin8 hearts and minds Transforming institutions Empowering individuals Stonewall Trustees, rwrt ¥d r31315tateM0Dts 201*21
The 18-month period covered bythisAnnual Report also includes a global pandemic, a change in leadership, and the development of Stonewall's 2021-24 strate8y, Free To Be, which wa5 published on 24 May 2021. This Annual Report will use the termlnology of our PvIouS strate, whlch covered the relevant period, to describe our achievements. The trustees confirm thatthey have complied with the duty in Part I, Sertion 4 of the Charities Art 21XJ6 to have due regard to the Charity Commission's 8eneral guidance on public benefit, 'Charities and Publlc Bene. Principal achievements for the 18 month period ended 31 March 2021 We successfully ¢ampal8ned to th•nie and protect kn with UK Scottish and Welsh governments, includin8 securln8 commitment from all UK administrations to brin8 forward a legislative ban on conversion therapy (which the Government acknowledges particularly afferts LGBTQ+ people) and campai8nin8 for policy, guidance and training to support the Smplementation of LG8TQ+ inclusive education in En8land, Scotland and Wales. We also successfully campaigned against threats to trans people's rlghts throu8h legal and policy proposals whith would have undemilned the Equality AL1. Our workto change and protect laws and our work to dwn8e hearts and mlndswa5 informed by hlgh quality research on LG8TQ+ people's experlences of the pandemic with the LGBT Foundation (charity number 1070904). This informed ouradvocacyto pollcymakers to ensure that LG3TQ+ people get the mental health support they need durin8 the pandemlc. We published 81 in Britain report demonstratingthe particular experien5 of bi people alon8 With a range of policy recommendations to improve outcomes for bi communltles. We publlshed two major insight reports on trans people's experiences of healthcare and crlminal justice Systems through ourTransfomiing Futures projert, andthese finding5 will inform community- led programmes to improve services and support for trans people. Throu8h our Educatlon and Youth work to empower InIdual5 and transforni Instftutlons we focused on transfoTmin8 education and youth institutions to better support LGBTQ+ Children and young people. Our expert team supported almost 1.21X) Schoo15 and Colleges to create LGBTQ+ inclusive learnin8 envlr¢Jnments through Train the Trainer programme5 and the development of a sulte of E-learnin8 modules on LGBTQ+ inclusive teaching. We developed a comprehensive free resource on Implementing the new LGBTQ+ inclusive Relationships. Health and Sex Education curriculum in schools which was downloaded more than 3,000 times in a few months. We also dirertly empowered more than 60 LGBTQ+ youn8 people through three Young Campaigners programmes focused on trans young people, LGBTQ+ youn8 people who are disabled, and IGBTQ+ young people of colour. Through our workpla Pro8rammes we worked with more than 9(KJ major employers to transform theworkplace experfence of LG8TQ+ employees through our Diversity Champions programme. building incluslve workplace poltcies and cultures through coachln& benchmarkin& and tar8eted support. Separately, almost 450 organisations put themselves Stonewall Trvstees. report and fiffjantial Statement$ 2019ni
fonward to be benchmarked as part of our 2019 Workplace EqualTrty Index - the highest number ever. We empowered More than 5.OlJ) LGBTQ+ people and allies through a range of programrnes to ensure individua15 Within communities and institutions advocate effectively for LGBTQ+ inclusion. These include programmes on taking the first steps towards LGBTQ+ inclusion, buildin8 501idarity through altyship and creating inclusive leadershlp cultures. Our Sport campaigns and programmes have dwnged hearts and mlnds and empowered individuals at local and national levels. Both the 2019 and 2020 Rainbow Laces campaigns Teached one in three sport fans In Britaln and led to a dernonstrable shift In public attitudes and support for LGBTQ+ people in sport. Thts was supported by pro8rammes delivered in partnership with sport bodies. ranging from the Premier League to community cricket clubs, with the 8oal of empowerin8 individuals, dubs and governing bodies to create an inclusive environment for LGBTQ+ people at every level of sport. This included working with 200 YOLtth sport coaches to build LGBTQ+ Inclusion into their Sport for Development pro8rammes. We developed partnershFPS wlth LGBTQ+ community oryanisations in the UK aftd globally, supporting mutual learning and ensuring our networks and knowledge can benefit LGBTQ+ actlvlsts. This includes work with LGBT Consortium to deliver tampai8n training for more than 100 activists from community groups across the UK to enable them to create chan8e in their local areas. This also includes our TRANSforming Futures partnership, workin8 Wtth trans-led Of8anisations and trans people to address challenges fated bytrans people In healthcare and justice systems. We've built upon our relationship with UK Black Pride (UKBP), working with NYA to deliver research with the UKBP communlty. We also had over 40CKJ contacts via our Information service. providing signpostln8 for LGBTQ+ people in need of support to specialist services that serve our communities. The Stonewall Scotland team has successfully campaigned to secure support for LGBTQ+ people throu8h the Scottish Govemmenvs consultation on the draft Gender Recognition Reform (Scotland) Bill and the Hate Crime and Public Order (Scotland} Act 2021, which improves LGBTQ+ people's legal protertions from hatd. while securing cross-party support for key areas of LGBTQ+ equality through our engagement with parties and candidates In the build-up to the 2021 Scottish Parliament election. The Stonewall Scotland team is worklnB with 34 new Diversity Champions and has delivered a range of prograrnmes to empower LG8Ta+ people and allies, includin8 programmes focused on bi people and trans allyship. reaching more thaft 31]) people across Scotland. The Stonewall Cymru team worked with Wetsh Government and the LG8TQ+ Independent Expert Panel to produce Wales, first ever LG8TQ+ Equality Action Plan, ran a series of digital events through the Mas ar y Maes partnership. We published resources on preventing child Sexual abuse of LGBTQ+ children and young people in partnership with Stop It Nowl and GALOP. We are working with 18 new Diversity Champions in Wales, and the team has dellvered empowernient se55ions to almost 5,Q)O people in Wales includlng through our largest Cymru Workplace Conference in February 2020. Stonewall .TsteS' rewrt and finanoalstatsment$20J9121
Finally, our Global tearn worked to promote human rights across the globe. We launched a partnership with Keshav Suri Foundation and Pride Circle In India to develop a Workplace Equality Index, with 65 employers enterin8 the index in its first year. We were civil society CO- chairs of the Equal Rights Coalltlon, worklng with the UK Government to provlde leadership to a multilateral community of 42 states and civil society or8anisations, developing a strategy and buildinB an international fund to support LG8TQ+ people globally. We worked to deliver three grant-funded project5 With our partners in the Out of the Margins network 124 organlsations In 22 countries), using research developed in partnership for advocary at the local, natlonal and multilateral level. We launched a project on Tracking & Tacklin8 Hate Speech & Crime against LGBTT People in the Western Balkans & Turkey wlth our reglonally based partner, Equal Rlghts Association. improving hate crime reporting in nine countries. We also launched the Equal Workplaces, Equal Rights projert, developlng an e-learning tool, advocacy strategy and to support employers promoting LGBTQ+ inclusion across a range of legal contexts within Commonweafth countrie5. Structure, governance and management Stonewall's governing Board of Trustees met regularly during the reporting period to devise, oversee and review strategic direction. Elected for a three-year period, each Trustee may be re-elerted for a furtherconsecutive term, plus lin exceptional circumstances) a second further consecutive term, each of three years, duration, althou8h Trustees generally serve two terms. We are comrnitted to hw4in8 a diverse and talented Board. Our approach to recrultlnB new Trustees is based on skills and addressin8 OPPOrtunitles to improve the diversity of the Board. New Trustees are briefed on the Memorandum and Articles of A550ciation. risk reglster, policies and procedure, delegation of authority, recruitment, re5erve5, conflirt of interest and current and previous yearf financial performance. With respon5ibiltyfor the 5trate8ic dirertion of Stonewall, Trustees delegate management to the Chief Executive and Senior Leadership who report on perforn)ance in Ilne with operatlonal plans approved bythe Board. The Flnance, Audlt. Risk and Compliance Committee (FARC) and Remuneration Commlttee (Remcol. made up of Trustees and Senior Leadership. operate under term5 of reference which delegate certaln functions from the Board. The Chief Executive and Senior Leadership report regularly, through FARC on the financial position, including outturn against the bLtd8et. The Committee receives Management Accounts and variance reports on a quarterty basi Stonewall Trtsstte$' iewrt ènd financtsi#atemeAts2019121
Remuneration of key personnel With a view to paylng at the market rate. the remuneration of the Senior Leadership and Chief Executlve Is benchmarked indlvidually, with the benchmarked salaries reviewed and agreed by the Remuneratlon Committee. Stonewall regularly benchmarks executive pay to ensure it Is In Ilne wlth market nonns. Diversity We believe ft Is only through the skllls. creatlvlty and dedicatlon of our staff, trustees and volunteers that we can chan8e the world for LG8TQ+ people, and it is vttal that our workforce, trustees and volunteers reflect the communfties we serve. We take particular care to prioritise race equity and trans inclusion in how we work, with commitments and actions that help us focu5 on improving our culture and prartices. and building equity within Stonewall. We are seeking to further progress bl and ace Incluslon within the charity. The Chlef Executlve and Senior Leadership are responsible for implementin8 our Equality, Dlversity and Inclusion policy and report on it annvally to the Board. Wlth a vlew to keeping in line with best practice and redressin8 any Issues, the staff survey asks people to self-identify. 52% of our staff were women 18% of our staff identified as trans 17% of our staff identified as non-binary 26% of our staff were frorn BAME IBlacK Asian and minority ethnic) communities 20% of our staff considered themselves to have an impaimient, conditlon or disability 13% of our staff were strai8ht 34% of our staff were bl 4% of our staff were under the asexuallaromantic urnbrella 43% of our staff were gay or lesbian 67% of our staff are aged 34 and under Il% of our staff are over 45 23% of our stsff had a faith Volunteers Volunteers are cricical to our day-to-day operation and our work Without their fundraising and admlnlstrative efforts in our offices, finance department, Information Service and external events, we estimate we'd need to employ another 3 members of full-time staff. Stonewall Ttustees. report And linaDCLII 5tatemeNr5 2019121
Financial position The accounts show a deficit for the l&month period to 31 March 2021 of £1,221k compared to a deficit of £809k for the year to 30 September 2019. Income was £11,549k compared to £8,316k for the previous period. This would equate to a decrease of £617k rf we were to average an annualised period. Expendlture for the period was £12,770k, an increase of £3,645k over the last reported year. rellertin8 an annualised decrease In expendttufe. Reserves At 31 March 2021. total Reserves were £2,810k (30 September 2019: £4,031k). Of these. Restricted Funds were £245k130 Septernber 2019: £279k) and Unrestrlcted Funds £2.565k {30 September 2019: £3,753k). The Desi8nated Fixed Asset Fund, refiectlngthe net bookvalue of the capitallsed leasehold Improvements. now totals £50k (30 September 2019: £191k). The Trustees re8ularly revlew the reseNe policy. The current policy is to hold 8eneral funds, exduding the designated fixed asset fund, equivalent to six rnonths, forecast eypenditure. As at 31 March 2021, this not achieved with the general reserve equivalent to 3.5 months, expenditure130 September 2019: 4.7). The period ending 31 March 2021 dld see addttlonal transfer of funds from reserrfes to maintaln operational activity, due to the decrease of income received as a result of the Covid pandernic affectin8 donors and institutions worldwide. Investments continue to have been made during the year, predominantly In infrastructure, to enable Stonewall to meet its strategic objettives. The reserves posltlon continues to be an area of priorty for the Board. and action is being undertaken to address the reserves posltion and move towards meeting the policy. These reseeS are needed to meet future growth plans and workin8 capital requtrements should there be a materlal deficiency in fundin8 at any point in the future. Risk management A thorough risk assessment is conducted by the Trustees annually. Stonewall manages risks within the Charity as part of the regular course of operational actrvity. It involves identlfylng the types of risk the charlty faces. prioritising them in terms of potential impact and likelihood of occurrence and identifyin8 means of miti6atin8 risks. As part of this process the Trustees review the adequacy of the charitrfs intemal controls and ensure compllance with best practice. The Director of Finance and Operations is responsible for Identifying and escalatlng serious risks and issues to the Board of Trustees within a pre-agreed risk appetite framework. Each quarter, the Finance, Audit, Risk and Compliance Commtttee assesses and reviews key risk5 including those relating to the safety and security of our employees. reputational rlsk of the Charity a5 a result of adverse media covera8e and operational and political challenge5 which threaten Stonewall's objectives. io Stonewall Trustees, rtport and fini131 statemettt$2019121
Notwithstanding the need to meet the Reserves policy as noted above. the Trustees have identified the followin8 key risks facin8 the Charity: Econornlc dlmate and thange in polltical landscape leadin8 to loss of income. Increase in complexity of the regulatory environmenL Increase in antl-LGBTQ+ rhetoric In the media• politics and the wider pub14c sphere. Covid-19 reducing our impart and income throu8h adaptation of delivery methods Idi8ital/blended/face to face) whilst retaining effective approaches. Going concern and Covid-19 The 8k)bal pandemic heavily irnparted our artivities as it did those of most or8aniSation5 across the world. Several events promoted by the charity had to be cancelled, however a great percentage of sold tickets were converted into donations. Other activities were performed remotely through peer-ttrpeer video conference or throu8h an innovative online platform rolled out to meet demand for an alternative to pre-pandemic face to face activities. Several Coronavlrus support funds were secured In 2020 and 2021, alon8 with HMRCS Coronavlrus Job Retention Scheme-CIRS, to covef expendituresthat could not be postponed nor renegotiate such as payroll and majority of our creditors. Credit control and cashflows also continue to be closely monitored. Bytaking a conservatlve approach to busine55 plannin8 and seeking new ways to secure funds and deliver our charttable artivities. the trustees have greater confidence that the lon8-term budget presented to them Is realistic and athievable. In order to confirn) the approprlateness of the going concern assumptlon in these accounts, the charity has developed base line and downside scenarios for the period to 31 March 2023. These scenarios demonstrate the impact on cash flows of managemenys best estimate of results for the period to 31 March 2023 as well a5 considerin8 'perfe¢( storm. scenarios. The scenarlos take into account the rlsks to fundraised income and demonstrate that, through careful cost control and actlve cost saving measures. the tharity would continue to have cash headroom, with no requirement to seek additional bank facilities. Based on these scenarios and other matters considered by the Board during the year. the trustees have a aSonable expectation. at the time of appmvin8 financial statements, that the tharity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the 80in8 concern basis of accountin8 in preparing the financial statements. Stonewall Tfustees, report andfinan<ial sthtements2Qi9121
Fundraising practices statement Stonewall relies on the generous support of grant makers. corporate and individual donors. Without them, we would not be able to continue to pursue our vision of creatin8 a world where LGBTQ+ people everywhere are free to be themselves. Consequently, our fundralsing pollcies and procedures are robust and transparent, and are applled scrupulously In order to protert our donors and in particular people in vulnerable circumstances. Our promise to our supporters include5 makin8 the best use of their donations, being transparent In how donations are spent. informing donors about the dlfference their support makes, re5pectln8 privaci. and making it easy for donors to choose how we communlcate with them. We keep abreast of. and adapt to. all and any change5 in the regulatory framework and adhere to current regulations, including the General Data Protection Regulation, Data. Protedton Act 2018 and Televant guidance from the ICO. Our suppliers (telephone fundraisin8 agency, two SMS agenoes. postal agency and merchandise fulfjlment house) are all bound by and compliant with - formal contracts. and we hold our thiTd-party Suppliers to the same GDPR compliance standards we adhere to. The data protertion policie5 of each supplier are screened. and we ensure that they can demonstrate their tompliance with GDPR in their data sharing and processing agreements wlth Stonewall. We en8age professional fundraisers to carry out fvndraising on our behalf. The activities of our professional fvndraisers. including our Payroll Giving a8ency and telephone fundraisln8 a8ency are actively monitored, and they are contracted to provide dally reports and end of campaign reports whlch indude amounts raised, issues with erroneous data and any complaints. These agencie5 are members of the Fundraising Re8ulator and are bound by It5 Code. Stonewall Is re8i5tered with the Fundralsin8 Regulator and bound by Its Code of Fundra15ing Practice. We continue to engage with the Regulator as thls code is revised to ensure all our fundraislng activltles are compliant and operating to the highest 5tandard5. We are member5 of the Chartered Institute of Fundraisin& We have fulty complied wlth the Code during the reporting period. Stonewall Is deternilned to ensure we follow and adapt our processes to reflert the ever- changingfundraising landscape. We're cornmed to making sure our policies and procedure5 relating to our supporters are dear and transparent, and we make it easy for them to inform us of any Issues they have with our communications or data mana£ement. All our fundraisin8 staff undertake safeguarding trainin8 to protect vulnerable people and other members of the public, whilst we are fundrai5in& 12 Stonewall Trvsttt¥ reoort and financfjal ststements 2019121
We are members of the Telephone Preference Service and the Fundraising Preference Seryice. The number of complaints received in the year in relation to fvndraising was O. Trustees, responsibilities in relation to the financial statements The Trustees {who are also directors of the charitable company fw the purposes of companv law) are responsible for preparin8 the Trustee< Report and the financial statements In accordance with appllcable law and United Kin8dom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year which glve a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to: select suitable accountin8 pollcles and then applythem consistently • observe the methods and principles in the Charities Ststement of Recommended Practice (SORP) make Judgements and estimates that are reasonable and prndent 0 State whether applicable %countin8 Standards have been followed. subject to any material departures disclosed and explained in the financial statements prepare the financial statements on the going concern basis unless It is inapproprlate to presume that the charity will continue in business The Trustee5 are responsible for keepin8 proper accounting ordS 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 requirements of the Companies Act 2006, the Charltles and Trustee Investment (Scotland} Act 21J)5 and regulation 8 of the Charlties Accounts (Scotland) Regulatlons 2006 las amended). They are also respon51ble for 5afe8uardin8 the assets of the charttable company and hence for takin8 reasonable steps for the preventson and detectlon of fraud and other irregularities. As far as the Trustee5 are aware". there is no relevant audit infomiation of which the charitable companrfs auditors are unaware and; Stonewall TruStee5' report and finantial statemehtsxi19121
the Trustees have each tsken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establtsh that the auditors are aware of that information. This report, which incorporates the Strategic Report for the purposes of the Companies Act 2(106. was approved by the Board on 16 December 2021 and signed on their behalf by: Sheldon Mllls Chair of Trustees J4 Stonewall Trustees, report andfinancl si•¢eirients 201W21
Opinion We have audited the financial statements of Stonewall Equallty limited for the perlod ended 31 March 2021 whith comprise the statement of financial artivities, the balance sheet. the cash flow statement and notes to the flnancial statements, including a summary of significant accounting policies. The financial reportlng framework that ha5 been applied In their preparation is applicable law and United Kingdom Accountin8 Standard5, including Financial Reporting Standard 102. the Financial Reporting Standard appllcable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practi). In our opinion the financial statements: give a true and fair view of the charitable companvs state of affalrs as at 31 March 2021 and of its incoming resources and appllcation of resources, including its income and expenditure, for the period then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Prattice: and: have been prepared in accordantÈ with the requirements of the Companies Act 2006. the Charities and Trustee Investment (Scotland) Act 2(K15 and regulation 8 of the Charities Accounts (Scotland) Re8ulations 26 {as amended). Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI (ISA5 {UKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs responslbilities for the audlt of the financlal statements sertion of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evldence we have obtained is sufficient and appropriate to provide a basis for our opinlon. Conclusions relating to going concern We have nothin8 to report in respect of the followin8 matter5 in relation to which the ISAS IUKI require us to report to you where: the trustees, use of the going concern basi5 of accountlng in the preparation of the financial statements is not appropriate: or the trustee5 have not disclosed in the finanual statements any identified material uncertainties that may cast Significant doubt about the chariVs ability to conttnue to is St•newall Trustees. report aDd hnèncihl 5t¥iEments 2019121
.11 adopt the going concern basis of accounting for a period of at least twelve months from the date when the finanual statements are authorised for issue. Other information The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. Our opinion on the financial statements doe5 not cover the other Informatlon and. except to the extent otherwise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and. in doing so. consider whether the other information 15 materially inconsistent with the financial statements or our knowledge obtained in the audit OT otherwise appears to be materially misstated. If we identify such material inconstrstencies or apparent material misstaternents, we are required to determine whether there is a materlal misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of thls 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 opinlon. based on the work undertaken in the course of the audit: the information given in the Truste Annual Report which includes the Directors, Report and the Strategic Report for the finanaal period for which the financial statements are prepared is consistent with the financial statements; and the Truste Annual Report which Includes the DTrectorf Report and the Strateglc Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the li8ht of the knowledge and understandin8 of the charitable cofflpany and its environment obtained in the course of the audit, we have not identified material mlsstatements in the Trustee Annual Report and Strategic Report. We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotlandl Regulations 20{ {as amended) require us to report to you if, in our opinion: 16 Stonewall Trustees, report and fiAandalstitem?nts 1019ri1
."•".r. proper adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns" or certain disdosures of trustees, remuneration 5peufied by law are not made; or we have not received all the infomiation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of Trustees, Responsibilities set out on pages 13 and 14. 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 glve a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of the financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessingthe charitable compan(s abilityto continue as a 80in8 concem. disdosin& as applicable. matter5 related to going concern and using the 80ing concern basis of accounting unle55 the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative to do so. Auditorfs responsibilities for the audit of the financial statements We have been appointed as auditors under the Charities and Trustee Investment (Scotland) Act 2(K15 and underthe Companies Act 21K)6 and report in accordance with regulations made nder those Acts. Our objectlves are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstaternent, whether due to fraud or error. and to 155ue an auditorfs report that includes our opinion. Reasonable assuran 15 a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always dete a material misstatemerrt when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the a8gregate, they could reasonabty be experted to influence the economic decisions of users taken on the basis of these financial statements. A further descriptton of our responsibilities for the audlt of the financial statements is located on the Financial Reporting Council's website at: vJww.frc.or8.uVauditorsresponsibilities. Thls description fornis part of our auditorfs reporL Stonewall ' Trust¢e5' reptirt and fanCi01 stèietMtrt5 2019121
Llse of our report This report is made solely to the charitable compan5 members, as a body. in accordance vlith Chapter 3 of Part 16 of the Companies Act 2(M)6, and to the charitable company's trustees as a body, in accordance with Re8ulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable compan(s members and trustees those matters we are required to state to them In an auditor's report and for no other purpose. To the fvllest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company. the charitable companrfs members and trustees as a body, for our audit work. for this report, or for the opinions we have formed. Cara Turtington (Senior Statutory Auditor) for and on behalf of Saffery Champness LLP Chartered Accountants Statutory Auditors 71 Queen Virtoria Street, London EC4V 4BE Date 21 December 2021 Saffery Champness LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. J8 Stonewall Tiustees. rewt and fmèfvtrdlsiatem0ntsl91ll
Totsl 18 months 31 March 2021 Total Year 30 Sept 2019 Notes Unrestricted funds Restrirted funds Income from". l)onations and legacies 2,325.772 2,325,7n 1,738,289 Grants Fee income Programme income Sponsorship Events income Investments Other trading activities Total Income 68.8CKJ 4.920.675 536,900 493.667 396,531 14.968 458.952 2,332,359 2,401,159 4,920.675 536.900 493,667 396.531 14.968 458,952 11,548,624 1,049,568 3,269,477 633.954 458,061 685,875 46.095 434,676 8,315,995 9,216.265 2,332,359 Expenditure on: Raising funds: Fundraising 1,938,219 L938,219 1,624,874 Charitable artivities: Campaigns, policy and research Employment advi Empowerment programme5 4.505,8% 572,651 5.078.547 4.311.642 3.618.401 341,077 3,618.401 2.134.784 1,860,811 1.327,456 1,793,707 Total expenditure 10.403.593 2,366.358 12,769,951 9,124,783 Transfers between funds (66) 66 Net expendlture for the perlod (1.187,3941 {33.933) (1.221,3271 (808.788) Total fund5 brought fowward 15 3.752.513 278,641 4,03¥154 4,839,942 Total funds TrIed forward Is 2.565,119 244.708 2W9.827 4.031.154 There are no recogni5ed gains and losses other than those in the statement of financial artivities. All the above amounts relate to continuing artivities. The notes on pages 22 to 38 forni part of these financial Statements. 19 Stoftewall Tiusiees. repoft and fifian(ial starerneThis lQ19121
Notes 31 March 2021 30 Sept 2019 Flxed assets Tangible assets Investments io li 216,625 1.097.508 270,564 1,088,048 Total fixed assets 1.314133 1,358.612 Current assets Debtors Cash at bank 12 1477,266 765.994 1,305.919 2,299,593 Total current assets 3,243.260 3.605,512 Llabllltles Creditors: amounts falling due within one year 13 1.747,566 932.970 Net current assets 1,495.694 2,672,542 Total assets less current Ilabllltles 2.809J27 4,031,154 Totsl net assets 2.809.827 4,031.154 Funds of the tharity: Restricted funds Unrestritted funds: 244.708 278.641 Designated fijnds General funds 182.45Z 2,382.667 2,8092? 454.968 3,297,545 4.031,154 Total funds 15 The financial statements on pa8es 19 to 38 were approved by the Board of Trustees on 16 December 2021 and si8ned on its behalf by Sheldon Mllls Chalr of Trustees Jean Vlanney Cordeiro Trthtsurer The notes on pages 22 to 38 fomi part of these financial statements. Company number: 0241229 io Stonewall rrusiees. report ?Trd fiTr3no3lsi?temeftts Xy19ni
Total 18 months 31 Marth 2021 Total Year 30 Sept 2019 Cash flows from operating artIvie$. Net cash used in operating artivities 11,414.848) 1940.3901 Cash flows from investing artivities Interest from investments Purchase of fixed assets Investment income reinvested 14,968 {124,258) (9.4601 46,095 (41,0801 17,4361 Net cash used in investment attivities 1118.750) 12,421) Change in osh and cash equivalents in the year (1.533.599) (942.812) Cash and cash equivalents at beginning of the year 2.299.S94 3,242,405 Cash and cash equlvalents at the end of the year 765,994 2.299.594 Reconciliation of net movement in funds to net cash flow from operating activities.. Total 18 months 31 March 2021 Total Year Sept 2019 Net movement in fundsfor the year Investment incorne Depreciation charges (Increasell decrease in debtors Increase/ Idecreasel in creditors Net cash flow used in operating actlvities 11.221.327) 114,9681 178,198 (1.171.347) 814,596 11.414,848) {808,7881 (46,095} 121.468 222,913 (429,888) 1940,390) 21 Stonewall Trustees. ieport and financial sEèterDent5 20J9121
Accounting Polioes Accounting Convention These financial statements have been prepared in accordance with Accounting and Reporting by Charitie5.' 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 IFRS 1021 (Charitie5 SORP {FRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2C(16. The charity constitutes a public benèfrt entity as defined by FRSIO2. The financial statements are prepared in sterlin& whith is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. The financial statements have been prepared under the htOrIcal cost convention. These finaneial 5tatèment5 cover an 18-month period, being the period from l October 2019 to 31 March 2021, as we changed our period end to 31 March to be in line with our Funders, reporting timescales, and to be aligned with the new strategic plan. The comparative figures, including the related notes. are therefore not entirely comparable. The principal accounting policies adopted are set out below. Going concern The global pandernic heavily impacted our activities as it did those of most organisation5 acro55 the world. Several events promoted by the charity had to be cancelled, however a great percentage of sold ticket5 were converted into donations. Other activttie5 were performed remotely through peer- to-peer video conference or through an innovative online platform rolled out to meet demand for an alternative to prtrpandemic face to face activities. Several Coronavirus support funds were secured in 2020 and 2021. along with HMRCS Coronavirus Job Retention Scheme - QIRS, to cover expenditures that could not be postponed nor renegotiate such as payroll and majority of our creditors. Credit control and cashflows also continue to be closely monitored. By taking a conservative approach to busine55 planning and seeking new ways to secure funds and deliver our charitable artivities, the trustees have greater confidence that the long-term budget presented to them is realistic and achievable. In order to confirm the appropriateness of the going concern assumption in these accounts, the charity has developed base line and downside scenarios for the period to 31 March 2023. These scenarios demonstrate the impart on cash flows of management's best estimate of results for the period to 31 March 2023 35 well as considering 'perfect storm, scenarios. The scenarios take into account the ri5k5 to fundrai5ed income and demonstrate that. through careful cost control and active 2Z Stonewall Trusi*Ès' report fipèncièl 51¥1Èmenis 2019121
cost saving measures. the charity would continue to have cash headroom, with no requirement to seek additional bank facilities. Based on these scenari05 and other matters ¢on5idered by the Board during the year, the trustees have a reasonable expectation, at the time of approving financial statements, that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustee5 continue to adopt the going concem basis of accounting in preparing the financial statement5. Financial Instruments The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised initially in the accounts at transaction price, including any transaction costs. At the end of each accounting period. basic financial instruments are re¢ognised at amortised Cost. For debt instruments this is caltulated using the effective interest rate method. Crltlcal estimate and judgements and key sources of estimation uncertainty In the application of the chariws accounting polKies. the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readilv apparent from other sources. The estimates are recognised in the period in which the estimate is revised where the revision afferts only that period, or in the period of the revision and future periods where the revision effects both current and future periods. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the charitable objectives of the charity. Designated funds are unrestrieted funds earmarked by the trustees for particular purpose5. Restricted incorne funds are funds subject to specific restrictions imposed by donors. The purpose and use of the restricted funds is set out in the notes to the financial statement5. Government grants Revenue grants are credited to the statement of financial activities when there is entitlement and probability of receipt and when the amount can be reliably measured. Income All incorne is accounted for as soon a5 the charity has entitlementto the income and there is certainty of receipt and the amount is quantifiable. Membership income is recogni5ed in full at the beginning of the year to which it relate5. The value of services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers Can be found in the Trustees, Annual Report. 13 Stonewall TruStEE5' iepori and Iin3ncial 5lalement5 2019121
Gifts in kind Gifts in kind by way of donated services are recognised a5 an incoming resource where the provider of the service has incurred a financial cost. Donated services are recognised on the basis of the value to the charity, which is the amount the charity would have been willingto pay to obtain the services of equivalent economic benefit in the open market. A corresponding amount is then recognised in expenditure in the period of receipt. Pension policy The Charity operate5 a pensions policy in compliance with the Stakeholder pension requirernent5. The charity does not have its own pension scheme. Instead the charity contributes up to 9% to a private pension scheme chosen bythe individual concerned. As such, the arnount paid in respect of contributions to such schemes 15 included within the wages and salaries expense. Resources expended All expenditure is accounted for on an accruals basis and has been listed under headings that aggregate all the costs related to that activity. Where costs cannot be directly attributed they have been allocated to activities on a basis consistent wtth the use of the resources. Dirert costs. including directly attributable salaries. are allocated on an actual ba515 to the key strategic areas of activity. Overheads and other salaries are allocated between expense headings on the basis of staff numbers. Govemance costs are those inctsrred in connection with the management of the charit¢s assets, organi5ational administration and compliance with constitutional and statutory requirernent5. Fixed assets Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life from the point the asset is ready to be used, as follows: Fixtures, fittings and equipment 25%- 100% straight line Website c05ts capitalised 25% straight line 33% straight line Leasehold improvements 20% straight line/break clause of lease The charity does not capitalise individual expenditure ttems below £i.IXJO. Software costs capitalised Investments Cash balances held a5 part of the long-term resérves policy are dassified as fixed asset investments. as the trustees do not intend to release the funds in the next 12 months. These are included at cost. VAT Where appropriate. expenditure includes irrecoverable value added tax. 24 Stonewall Trusleps. report nd financial staterDents 2019ni
Donations 18 months 31 March 2021 Year 30 Sept 2019 Individual donations Corporate donations Legacies Donated services 1.392,485 499,881 425,406 8.000 1,068,599 222,205 377.749 69.736 2.325,772 1,738,289 Donated services comprise pro bono professional legal sUPPOrt, media senrfices and gifts for catering at events. Ail donations received for the year ended 30 September 2019 and the period ended 31 March 2021 were unre5trirted. 2S Stonewall
Income froffl charltable aLtivitie&' Grants Total 18 months 31 March 2021 Total Year 30 Sept 2019 Unrestricted Restricted Bank of America Merrill Lynth Baring Foundation BT Supporters Club C A Rodewald Charitable Settlement Catalyst and The National Lottery Community Fund City Bridge Trust Comic Relief Consortium Department for Education Foreign and Commonwealth Office Eleanor Rathbone Trust Government Equalities Office Coronavirus Job Retention Scheme National Lottery Community Fund- Awards for All National Lottery Community Fund - The Big Lottery Fund National Lottery Community Fund- Coronavirus Comrnunitysupport Fund NHS Scotland RG Foundation Scottish Government Tesco The JP Jacobs Charitable Trust The Openwork Foundation The Oakdale Trust The Persula Foundation Wales Council for Voluntary Action Welsh Government Worshipful Company of Chartered Accountants 38,101 4.500 62,888 4500 125,388 300 5.000 62.51J) 3(KJ 25.592 400 5.000 22.267 103.908 600 22.267 103.908 112,583 299,612 145,075 3,000 765,061 765.061 50.393 616.225 5.c(JO 50.393 616.225 5.000 148.445 148.445 98,966 98,911 98.911 47,380 io.cKK) 150,IX)O 47,380 10.000 150.000 46,000 loo.000 16,000 1,000 1.000 1.000 5.000 500 1,000 3,531 157.609 600 5.252 236,529 5.252 236,529 68,8 2,332,359 2.401,159 1,049,568 The above includes £1,865,589 received from government sources (2019: £702,29S), of which £742,403 related to Coronavirus Support Funding12019- £nil). 26 Stonewall Tiv$tee rewrt linènc1èlsi?lnTr5 7019121
Income from charftable aLtivities: Grants (contlnued) Comparative information for the year ended 30 September 2019: Total Year 30 Sept 2019 Unrestricted Restricted Bank of America Merrill Lynch Baring Foundation BT Supporters Club C A Rodewald Charitable Settlement Catalyst and The National Lottery Community Fund City Bridge Trust Cornic Relief Consortium Department for Education Foreign and Commonwealth Office Eleanor Rathbone Trust Government Equalities Offite Coronavirus Job Retention Scheme National Lottery Community Fund- Awards for All National Lottery Community Fund- The 8ig Lottery Fund National Lottery Community Fund- Coronavirus Community Support Fund NHS Scotland RG Foundation Scottish Government Tesco The JP Jacobs Charitable Trust The Openwork Foundation The Oakdale Trust The Persula Foundation Wales Council for Voluntary Action Welsh Government Worshipful Company of Chartered Accountant5 38.101 38,101 25,592 25,S92 400 4(YJ 112.583 112.583 299.612 145.075 3.000 299,612 145,075 3,CM)O 98.966 98.966 46.000 46,000 100.OCK) 16,(M)O io),000 16,000 1.000 500 soo 1.000 3,531 157.609 600 3,531 157,609 6LJ) 3,000 1,046,568 1,049,568 27 Stonewall Trustees. <eport financial statements 1019121
Fee5 Fee incorne consists of income from private. public and third sector organisations who join our Diversity Champions workplace inclusion proeramme or Global Founding Partners programme, annual contributions from schools or Local Authorities joining our School Champions or Education Champions programmes, and ¢harges made for providing Stonewall speakers for events or related to bespoke consultancy requests. Total fee income was £4.920.675 (2019: £3.269.477). Programmes Programmes income con5i5ts of income related to delegates attending any of Stonewall's empowerment (personal and professional developrnentl programmes (such as the LGBT Leadership programme. LGBT Role Model programme, Ally and/orTransAlly programmesl, as well as Train the Trainer programmes (such asthe Teacher Train theTrainer programmel and other programrnes. Total programmes income was £536,90012019: £633.9541. Event5 income 18 months 31 March 2021 Year 30 Sept 2019 Bespoke events Ticket sales Auction income Raffle 73.970 . 305.805 11,231 5.525 396,531 13,250 591.460 70,030 11,135 685,875 Other trading activities 18 mth5 31 March 2021 Year 30 Sept 2019 Advertising income Merehandise sales Other 141,650 305,732 11,570 458.952 208.111 221.136 5,429 434,676 28 Stonewall Trstee5. report finartcial statemp_tsts 2019nl
Total expenditure a) 18 month period ended 31 March Z021 Direct Activtties Support Governance Total Costs Costs 18 months 31 March 2021 Total Year 30 Sept 2019 Raising funds= Fundraising costs 1.417.925 510.721 9.573 1.938.219 1,624.874 Charitable activitie5= Campaigns, policy and research Employment advice Empowerment programmes Total charitable activities 3.996,748 1,061.894 19,905 5,078.547 4,311,642 2,660.237 940,535 17,629 3,618.401 1.860.811 I,3.188 1.110.775 20,821 2.134,784 1,327.455 7,660.173 3.113,204 58,355 10.831.732 7.499.909 Total expenditure 9,078.098 3,623,925 67,928 12.769.951 9.124.783 b) Year ended 30 September 2019 Direct Artivitie5 Support Governance Costs Costs Total Year 30 Sept 2019 Raising funds". Fundraising casts 1.127,031 487.562 10,281 1.624,874 Charitable activities: Campaigns, policy and research Employment advice Empowerment programmes Total charitable activities 2.942.574 1.340,797 28,271 4,311.642 1.562.106 292,537 6,618 1,860,811 I.IX)3,858 316.916 6.682 1,327.456 5,508,538 1,950,250 41.121 7,499,909 Total expendlture 6,635,569 2,437,812 51,402 9,124,783 29 Stonewall
Total expenditure (continued) a) Support costs for the 18 nionth period ended 31 March 2021 comprlse: Cost of Charitable generating artivitiÈs funds Total 18 months 31 March 2021 Total Year 30 Sept 2019 General Management Finance. operations. human resources and information technology 115,650 704.968 395.071 2.408.236 820.618 2.803.307 805.070 1,632,742 510.721 3,113.204 3,623,925 2,437,812 bl Support costs for the year ended 30 September 2019 comprise: Cost of Charitable generating activities funds Total Year 30 Sept 2019 General Management Finance, operations, human resources and information technology 161.014 644.056 805.070 326,548 1,306,194 1,632.742 487.562 1.950,250 2.437.812 Support costs are apportioned based on staff numbers. 30 Stonewall Trb51ees' report and fin•n¢ial slaleMeD15)9l?l
Net expenditure for the period 18 months 31 March 2021 Year 30 Sept 2019 Net expenditure is stated after charging: Auditors. remuneration lexcludinz VATI for - StatLrtory audit - A55urance service5: donor audits Depreciation Operatlng lease expense 22.275 1,560 178.198 473,682 14,850 5,580 121,468 365,084 io Tangible fixed assets Leasehold improve- rnents Fixtures Website Software frttings and costs costs Èquipment capitalised capttali5ed Total C05t At l October 2019 Additions 468,385 57.631 92.763 618,779 124.258 124.258 At 31 March 2021 468.385 57.631 124.258 92.763 743.037 Depreciation At l Ortober 2019 Charge for period 277,417 140.516 32.629 8.761 38,168 348,214 4,920 178,198 24,001 At 31 March 2021 417.933 41.390 24.001 43,088 526.412 Net book value At 31 March 2021 50,452 16.241 100,257 49,675 216.625 At 30 September 2019 190.968 25,002 54,594 270.564 The fixed assets are used to SUPPOrt all of the charitVs activities. Stonewall
li Investrnents Investments are cash balances held on deposit with Virgin Money. 12 Debtors 2021 2019 Fees receivable Prepayments and accrued income Other debtors 1.044,580 1.334,441 98,245 945.476 266,099 94.344 2,477.266 1,305,919 13 Creditors: Amounts falling due within one year 2021 2019 Accounts payable Taxation and social security costs Accruals Deferred income (Note 14) 438,669 668,246 291.380 349.271 125.222 376,712 143,965 287,071 1.747.566 932,970 14 Deferred income Deferred incorne is funding received in advance for programme activity delivered in a future financial period. Opening balance Amounts released Current Closing period balance funding deferred Deferred income 287.071 11.147.713) 1.209.912 349,271 32 Stonewall Tru5te*S' rÈPOrt ènd fitsanCl staienlenls 7019nl
15 Movement in funds a) 18 month period ended 31 Marth 2021 Balance at l Oct 2019 Balance at 31 March 2021 Income Expenditure Transfers General funds: Designated funds- Education fund 3.297.545 9.216.265 10.403,593 272.450 2.382,667 264,(KKI 1132,0001 132,000 Fixed asset fund 190.968 (140.5161 50.452 Total unrestrirted funds 3.752.513 9.216.265 10.403.593 (66) 2.565,119 Restrlcted funds: Campaigns, policy and research Empowerment programmes 19,912 581.316 572,651 28,578 258.729 1,751,043 1,793.707 216,130 Total restricted funds 278.641 2.332.359 2.366,358 66 244,708 Total funds 4.031.154 11.548,624 12.769.951 2.809,827 33 Stonewall Tru5tPE5' report and financial staterneDt5 2019121
15 Movement in funds (continued) b} Year ended 30 September 2019 Balance at l Oct Z018 Balance at Income Expenditure Transfers 30 £ September 2019 General funds". Designated fund5- Education fund 3,648.354 7.265,109 8,245.216 272.450 3.297.545 {536,OCKI) 264,0 Fixed asset fund 280.189 4.318 193,539) 190,968 Total unrestrlcted fund5 4,728.543 7.269.427 8.245.216 1241) 3,752.513 Restrirted fvnds: Campaign5. policy and research Empowerment programmes 26,360 261,139 267.587 19.912 85.039 785,429 611,980 241 258,729 Total restricted funds 111,399 1,046.568 879,567 241 278,641 Total fd$ 4.839,942 8.315.995 9.124,783 4.031,154 Designated funds Fixed ossetfund Represents the net book value of leasehold improvement capitalisation. The transfer reflects the depreciation charge for the year. Education Fund To fund our future education work. The transfer refiects reserves released to unrestricted funds to fund core activities of the charity including work on campaigns. policy and research. Restricted funds Restricted funds are used to nd Stonewall's core areas of work. Carried forward restricted funds represent either income received prior to the year end for which work has not commenced or income which is due for work which spans the year end. 34 Stonewall TrvsIe. and fiTrèrtpal stèieffteThiS 191
16 Analysis of net assets between funds a} Fund balances at 31 March 2021 are represented by: Unrestricted funds Re5trirted funds Total funds Fixed Assets Debtors Creditors Cash at bank 1.314.133 1,677.543 1951,1621 524.605 1.314,133 2.477.266 {1,747,5661 765.994 799.723 1796,404} 241,389 2,565,119 244,708 2,809,827 b) Fund balances at 30 September 2019 are represented by". Unrestrirted funds Restricted funds Total funds Fixed Assets Debtor5 Creditors Cash at bank 1,358,612 1,234,699 1904.9281 2,064.130 1.358,612 1.305,919 {932.9701 2.299,593 71,220 128.042) 235.463 3,752,513 278,641 4,031,154 17 Staff costs and numbers a) stsff costs 18 months 31 March 2021 Year 30 Sept 2019 Salaries Social security Pension Agency staff and other contractors 7.252.595 745.017 511.217 765.579 5,256.347 504,177 373,506 225,939 9.274.408 6,359,969 Js Stonewall
17 Staff costs (cortinued) The number of employees whose employee benefits (excluding ernployer pension costs) amounted to over £60.IXIO in any 12 month period within the 18-month financial period were as follows: 18 months 31 March 2021 Year 30 Sept 2019 £60,000 to £69.999 £70.000 to £79,999 £80.000 to £89,999 £IOO,000 to £109,999 The key management personnel of the organisation overthe 18-month period. comprised the Chief Executive and five Executive Directors as well as the former Chief Operating Officer and two former Executive Directors. The total employee benefits of key management personnel of the organisation were £8,729(20I9. £523.173). The average number of employees analysed by function was: 18 months 31 March 2021 107 17 li Year 30 Sept 2019 126 19 Direct charitable activities Fundraising Management and administration 135 151 The charity rnade payments in respect of termination payments in the year. The aggregated t05t in 2021 were £68.118 and related to 10 members of staff {2019: £23.768 relating to 3 members of staff}. b) Trustees Three trustees received a total of £335 in reirnbursed expenses throughout the year12019: £1,238). No trustees received a salary {2019: £nil}. The aggregate unrestrirted donations received from the trustees in the year was £10,000 (2019: £540}. 36 Stonewall TrtiStev.s' e[lorrand sfaternenti 19n22
18 Pension commitrnents The company makes contributions to personal pension schemes for its employees who have not opted out. Contributions in the period totalled £511,217 {2019= £373,506). 19 Charitable status Stonewall Equality knmited is a charity domiciled and incorporated in England and Wales. The registered office 15 192 St John Street. London. ECIV 4JY. The charity does not have share capital, but its liability is limited by the guarantèes of its members. Each member has agreed to accept liability of an amount not exceeding £1. should the charity be wound up. At 31 March 2021 the total of such guarantees amounted to £7. 20 Related party transactions Details of transactions with tru5tee5 are provided in note 17b. There were no other related partytransactions during the year. 21 Operatlng leases The companvs total commitment5 for rental payments due under non-cancellable operating leases at the period end are as follow5: 2021 2019 Payment due: Within one year Within two to five year5 Over five years 231,239 1.495.964 302.552 362,072 1,248,780 799,772 2,029.755 2,410,624 37 Stonewall Trustee5' report and fi*lanCial statements 2019121
22 Comparative Information Statement of Finanaal Artivities for the year ended 30 September 2019 Unrestricted funds Restricted funds Total 2019 Income from: Donations and legacies 1.738.289 1,738.289 Grants Fee incorne Programme income Sponsorship Events income Investments Other income 3,0(Kl 3,269.477 633,954 458.061 685.875 46.095 434,676 7,269,427 1.046,568 1,049.568 3,269,477 633.954 458,061 685,875 46,095 434,676 8.315,995 Total Income 1.046.568 Expenditu on: Raising funds: Fundraising 1,624.874 1.624,874 Charitable activities.. Campaigns, policy and researth Employment advice Empowerment programmes Coronavirus Support Funding 4,044.055 1,860,811 715.476 267,587 4,311.642 1,860.811 1,327,456 611,980 Total expenditu 8.245,216 879,567 9.124.783 Transfers between funds (2411 241 Net expenditure for the y 1976.030) 167.242 1808.788) Total funds brought forward 4,728,543 111,399 4.839.94Z Total funds carried forward 3,752,513 278,641 4.031.154 Stonewall Tfusl2e5' report and finamrrxlsfatements ]912?