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2023-03-31-accounts

Legal and administrative
information
Trustees Report incorporating
the Directors' report
Independent
auditor's report to the members of
Employers'
Networlc for Equality &Inclusion
Statement offinancial activities
Balance sheet
Statement ofcash flows
Notes tothe accounts

All unrestricted All unrestricted
Notes funds funds
2023 2022
Income from:
Investments 2,638 18
Charitable
activities		 1,894,570 1,895,079
Totalincome 1,897,208 1,895,097
Expenditure
on:
Charitable
activities		 1,692,074 1,297,542
Total expenditure 1,692,074 1,297,542
Net income for the year 205,134 597,555
Other recognised gains and losses
Actuarial
gains		 on defined benefit pension scheme 18 3,000
Net movement in funds 205,134 600,555
Funds balance at1April 967,410 366,855
Funds balance at31March 1,172,544 967,410

Notes 2023 2023 2022 2022
f f
Fixed assets
Intangible
assets		 11 43,775 12,875
Tangible assets 12 14,828
58,603 12,875
Current assets
Debtors 13 555,354 369,301
Cash at bank and in hand 1,939,194 1,682,573
2,494,548 2,051,874
Creditors
Amounts
falling due within one year		 14 (1,380,607) (1,097,339)
Net current assets 1,113,941 954,535
Net assets excluding pension liability 1,172,544 967,410
Defined benefit pension scheme liability 18
Total net assets 1,172,544 967,410
Represented
by
Unrestricted
funds
General funds 15 1,172,544 967,410
Pension reserve
1,172,544 967,410

2023 2023 2022 2022
6 6 E
Cash flow from operating activities
Net income 205,134 600,555
Adjustment
for:
Interest income (2,638) (18)
Actuarial
gains on defined		 benefit pension scheme (3,000)
Amortisation
and depreciation		 7p725 4,568
(Increase)/decrease
in debtors		 (186,053) 68,686
Increase
in creditors		 283,268 74,334
Net cash provided
by operating
activities		 307,436 745,125
Cash flow from investing
activities
Purchase oftangible assets (14,828)
Purchase of intangible
assets		 (38,625) (12,875)
investment
income - bank		 interest 2,638 18
Net cash used in provided by investing
activities		 (50,815) (12,857)
Change in cash and cash equivalents in the year 256,621 732,268
Cash and cash equivalents atthe beginning ofthe year 1,682p573 950,305
Cash and cash equivalents at the end ofthe year 1,939,194 1,682,573

All unrestricted All unrestricted
funds funds
2023 2022
f f
2,638 18

All unrestricted All unrestricted
funds funds
2023 2022
f f
Membership subscriptions 1,170,332 1,227,159
Consultancy 711,236 664,428
Event income 13,002 3,000
Government grants 492
1,894,570 1,895,079

Current Year-All unrestricted Current Year-All unrestricted Current Year-All unrestricted funds funds Staff & Other
Consultants (note 7& Support
(note 6) 8) Costs Total 2023
f f f f
Charitable activities: Membership &consultancy services 1,082,878 565,846 43)350 tp692~074
Support costs (inc. governance) 12,973 30,377 (43,350)
1,095,851 596,223 1,692,074
Prior Year- All unrestricted funds Staff & Other
Consultants (note 7& Support
(note 6) 8) Costs Tota I 2022
f f f f
Charitable activities: Membership &consultancy services 748,439 529,459 19,644 1,297,542
Support costs (inc. governance) 11,222 8,422 (19,644)
759,661 537,881 1,297,542

umber ofe m ploy ees
2023 2022
Number Number
The average number ofemployees during the year was: 18 16
AII All
unrestricted unrestricted
Employment IEConsultant costs funds funds
2023 2022
f f
Wages and salaries 894,595 668,117
Social security costs 99,195 69,175
Pension costs 30,384 22,369
Other employee benefits 22,286
1,046,460 759,661
Consultants IEtemporary staff 49,391
Total Employment &Consultant costs 1,095,851 759,661
2023 2022
Number Number
E60,001-E70,000 2
E70,001-E80,000
f80,001 —f90,000
f90p0001 f100~000
E110,001- E120,000

2023
E		 2022f
Other costs relating to charitable activities comprise:
Direct costs ofconsultancy 330,136 341,326
PR consultancy 6,000
Promotional material 18,029 29,753
Events and meetings 20,136 15,587
Office and other costs 95,576 96,905
Rent and service charge 37,379 14,402
Staff recruitment,
training		 and travel 58,590 31,486
565,846 529,459
Support —direct costs
2023 2022
f E
Other support costs comprise:
Audit 8,570 6,350
Other costs 21,807 2,072
30,377 8,422

This isstated after charging:
Auditor's
remuneration
Amortisation
Lease expenses:
Land and buildings
Other
2023f 2022
f
8,570 6,350
7,725 4,568
40,216 14,402

Website
f
Cost
At 1April 2022 12,875
Additions 38,625
At31March 2023 51,500
Amortisation
At1April 2022
Charge forthe year 7,725
At31March 2023 7,725
Net book value at31March 2023 43,775
Net book value at 1April 2022 12,875

2 Tangible fixed assets
Fixtures
fittings and
Equipment
E
Cost
At 1April 2022 13,705
Additions 14,828
At 31March 2023 28,533
Depreciation
At1April 2022 13,705
Charge forthe year
At31March 2023 13,705
Net book value at31March 2023 14,828
Net book value at 1April 2022

2023 2022
f f
Subscriptions, conference and events income receivable 509,536 346,989
Prepayments and accrued income 45'818 22,312
555,354 369,301

2023 2022
E
Trade creditors 104,616 105,107
Taxes and social security costs 110,686 99,741
Other creditors 6p008 6,035
Accruals
and deferred		 income 1,159,297 886,456
1,380,607 1,097,339

2023 2022
6 E
Bought forward 1April 692,280 673,307
Deferred in the year 2,172,328 673,364
Released in the year (1,915,800) (654,391)
Carried forward at31March 948,808 692,280

Current Year At1April At31March
2022 Income Expenditure 2023
E f E
Unrestricted reserves 967,410 1,897,208 (1,692,074) 1,172,544
Pension reserves
967410 1897208 (1692074) 1p172~544

5 Funds ana lysis (continued)
Prior Year At1April At 31March
2021
f		 Incomef Expenditure
f		 Gains/losses
f		 2022
f
Unrestricted reserves 369,855 1,895,097 (1,297,542) 967,410
Pension reserves (3,000) 3,000
366,855 1,895,097 (1,297,542) 3,000 967,410

Land and buildings
2023 2022
—within one year 48,342 10,771
-later than one year and not later than five years 33,314
81,656 10,771

2023 2022
%pa %pa
Main financial assumptions
RPI Inflation 3.25 3.60
CPI Inflation 2.45 2.80
Rate ofincrease in payment ofpre 2006 pensions 3.70 3.60
Rate ofincrease in payment ofpost 2006 pensions 2.10 2.50
Discount rate for Scheme liabilities 4.85 2.80

Reconciliation offunded status to balance sheet 2023 2022
f'000 E'000
Fair value ofassets 321 441
Present value offunded defined benefit obligations (301) (412)
Funded status 20 29
Unrecognised asset (20) (29)
Asset/(liability) recognised on the balance sheet
Present value ofunfunded defined benefit obligations

Amounts
recognised
in		 Statement ofFinancial Activities 2023 2022
E'000 E'000
Operating
cost:
Administration
expenses
Past service cost (incl. Curtailments)
Financing cost:
Interest on net defined benefit liability/(asset)
Pension expense recognised
in the Statement of Financial
Activities		 2 2
Amounts
recognised		 in Other Comprehensive Income (OCI) 2023 2022
E'000 E'000
Asset gains arising during the year (115) 19
Liability gains/(losses) arising during the year 105 12
Change in the effect ofthe asset ceiling 9 (29)
Total amount recognised
in OCI		 (1) 2

8 Pension Commitments
(continued		 )
Change to the present value ofthe defined benefit obligation during the year 2023 2022
E'000 E'000
Opening
defined benefit obligation		 (DBO) 412 429
Interest expense on DBO 11 9
Actuarial
Gains/losses
on Scheme liabilities		 (105) (12)
Net benefits paid out (12) (14)
Past service cost (incl. curtailments)
Closing defined benefit obligation 301 412
Change to the fair value ofScheme assets during the year 2023 2022
6'000 E'000
Opening fair value ofScheme assets 441 426
Interest income on Scheme assets 11 9
(Loss)/gain
on Scheme assets		 (115) 19
Contributions
by the Employer		 3 3
Net benefits paid out (17) (14)
Administration
costs incurred		 (2) (2)
Closing fair value ofScheme assets 321 441
Actual return on Scheme assets 2023 2022
E'000 E'000
Interest income on Scheme assets 11 9
(Loss)/gain
on Scheme assets		 (115) 19
Actual return on Scheme assets (104) 28