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|Reference and Administrative
Details of||the Charity, its Trustees and Advisers|||
|Trustees'
Report||||2-7|
|Independent
Auditors'|Report on the Financial Statements|||8-10|
|Statement of Financial|Activities||||
|Balance Sheet|||||
|Statement ofCash Flows||||'l3|
|Notes tothe Financial|Statements|||14-25|
|The following
pages do|not form part ofthe|statutory|financial statements:||
|Charity
Detailed Income and Expenditure||Account and Summaries|||
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|||||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
|||||2023|2023|2023|2022|
||||Note|||f.||
|INCOME FROM:||||||||
|Donations,
grants and legacies||||430,760|101,7&9|532,549|957,595|
|Charitable
activities|||||822,108|822,108|823,907|
|Investments|||||6,146|6,146|726|
|TOTAL INCOME||||430,760|930,043|1,360,803|1,782,228|
|EXPENDITURE ON:||||||||
|Raising funds: Management||||||||
|operations,
fundraising||and||||||
|communications|||||136,625|136,625|128,893|
|Charitable
activities||||368,303|909,126|1,277,428|1,206,030|
|TOTAL EXPENDITURE||||368,303|1,045,751|1,414,054|1,334,923|
|NET MOVEMENT|IN FUNDS|||62,457|(115,708)|(53,251)|447,305|
|RECONCILIATION|OF|FUNDS:||||||
|Total funds brought|forward|||421,796|934,448|1,356,244|908,939|
|Net movement
in funds||||62,457|(115,708)|(53,251)|447,305|
|TOTAL FUNDS CARRIED FORWARD||||484,253|818,740|1,302,993|1,356,244|
##
||BALANCE SHEET|BALANCE SHEET||||
|---|---|---|---|---|---|
||AS AT 31 MARCH 2023|||||
||||2023||2022|
||Note||f.||E|
|FIXEDASSETS||||||
|Tangible assets|10||12,025||6,261|
||||12„025||6,261|
|CURRENT ASSETS||||||
|Debtors||507,225||457,537||
|Cash at bank and in hand||966,644||1,080, 782||
|||1,473,869||1,538,319||
|Creditors: amounts
falling due within one
year|12|(182,899)||(188,336) .||
|NET CURRENT ASSETS|||1,290,970||'l,349,983|
|TOTAL ASSETS LESS CURRENT||||||
|LIABILITIES|||1,302,995||'l,356,244|
|NET ASSETS EXCLUDING PENSION
ASSET|||1,302,995||1,356,244|
|TOTAL NET ASSETS|||1,302,995||1,356,244|
|CHARITY FUNDS||||||
|Restricted funds|||484,253||421,796|
|Unrestricted
funds|||818,742||934,448|
|TOTAL FUNDS|||1,302,995||1,356,244|
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||||2023f|2022|
|---|---|---|---|---|
|CASH FLOWS FROM OPERATING ACTIVITIES|||||
|Net cash used
in operating|activities||(108,981)|256,284|
|CASH FLOWS FROM INVESTING ACTIVITIES|||||
|Purchase oftangible
fixed|assets||(11,304)|(3,729)|
|Interest from investments|||6,147|726|
|NET CASH USED IN INVESTING ACTIVITIES|||(5,157)|(3„003)|
|CHANGE
IN CASH AND|CASH EQUIVALENTS|IN THE YEAR|(114,138)|253,281|
|Cash and cash equivalents|at the beginning
ofthe year||1,080,782|827,501|
|CASH AND CASH EQUIVALENTS AT THE END||OF THE YEAR|966,644|1,080,782|
|The notes on pages 14to|25 form part ofthese financial statements||||
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|||Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|funds|funds|
|||2023|2023|2023f.|2022|
|Donations|and Grants||101,789|101,789|365,000|
|Restricted|Grants|430,760||430,760|592,595|
|||430,760|101,789|532,549|957,595|
|Total 2022||592,595|365,000|957,595||
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|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|fLlndS|
|||2023|2023|2022|
|||||E|
|Conference|and events|62,037|62,037|59,103|
|Allocation of|support costs (Note 8)|74,588|74,588|69,791|
|||136,625|136,625|128,894|
|Total 2022||128,894|128,894||
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|||||Restricted|Restricted|Unrestricted|Total|Total|
|---|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|funds|
||||||2023|2023|2023|2022|
||||||F||||
||Unbound
grant||||36,556||36,556|76,246|
||Nuffield
grant|||135,781|||135,781|163,697|
||Paul Hamlyn
grant||||19,945||19,945||
||Stichlng Benevolentia||grant||44,663||44,663|19,950|
||Research fees and Subscriptions|||||14,400|14,400|9,643|
||Sequoia Trust grant||||71,363||71,363||
||Dyson grant|||||||6,000|
||Middlesex
University|grant|||12,928||12,928|2,586|
||NIESR grant||||8,150||8,150|10,312|
||Welsh Government|grant|||26,794||26,794||
||Lord Nash grant||||5,279||5,279||
||Gareth Thomas grant||||6,599||6,599||
||Department
for Education||||245||245||
||Allocation ofsupport|costs (Note 8)||||894,726|894,726|915,596|
|||||368,303||909,126|1,277,429|1,206,030|
||Total 2022|||280,791||925,239|1,206,030||
|7.|Governance costs||||||||
||||||||2023|2022|
||||||||f.||
||Auditors'
rernunei. ation||||||8,000|7,679|
||Auditors
Remuneration||(Underprovision|for prior year)|||4,873||
||Accountancy,
payroll
vnderprovision)||fees, auto-enrolment|fees (including|prior year||8,743|6,462|
||Bookkeeping||||||3,165|3,125|
||Legal and professional||fees||||8,475|6,346|
||||||||33,256|23,612|
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||||||||Costs of||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||generating|Charitable|Total|Total|
||||||||funds|activities|funds|funds|
||||||||2023|2023f|2023|2022|
|Office Costs|||||||8,159|73,431|81,590|75,394|
|Website and ITcosts|||||||1,900|17,104|19,004|14,664|
|Miscellaneous|||||||473|4,255|4,728|3,651|
|Bank charges|||||||34|303|.337|330|
|Wages and salaries|||||||50,109|952,071|1,002,180|965,393|
|National
insurance|||||||5,291|100,533|105,824|100,091|
|Pension costs|||||||3,774|71,707|?5,481|7'/, 042|
|Advertising|and Promotional||||||968|8,708|9,6?6|6,401|
|Restricted|expenditure|Unbound|(Note|||6)||(36,556)|(36,556)|(78,246)|
|Restricted|expenditure|- Stiching Benevolentia|||||||||
|(Note 6)||||||||(44,663)|(44,663)|(l9,950)|
|Restricted|Expenditure|- Nuffield|(Note|||6)||(135,781)|(135,781)|(163,696)|
|Restricted|expenditure|- Dyson|foundation||||||||
|(Note 6)||||||||||(6,000)|
|Restricted|expenditure|- Middlesex||University|||||||
|(Note 6)||||||||(12,928)|(12,928)|(2,586)|
|Restricted|expenditure|- NIESR|(Note||6)|||(8,150)|(8,150)|(10,312)|
|Restricted|Expenditure|-Sequoia Trust (Note|||||||||
|6)||||||||(71,363)|(71,363)||
|Restricted|Expenditure|- Department|||for||||||
|Education|(Note 6)|||||||(244)|(244)||
|Restricted|Expenditure|- Paul Hamlyn|||||||||
|Foundation|(Note 6)|||||||(19,945)|(19,945)||
|Restricted|Expenditure|-Gareth|Thomas||||||||
|(Note 6)||||||||(6,599)|(6„599)||
|Restricted|Expenditure|- Lord Nash||(Note 6)||||(5,279)|(5,279)||
|Restricted|Expenditure|-Welsh|Government||||||||
|(Note 6)||||||||(26,794)|. (26,794)||
|Governance|costs (Note 7).||||||3,326|29,930|33,256|23,612|
|Depreciation|||||||554|4,986|5,540|5,598|
|Total|||||||74,588|894,726|969„314|985,386|
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|Staff costs|||||
|---|---|---|---|---|
||||2023|2022|
||||F.||
|Wages and|salaries||1,002,180|965,393|
|Social security costs|||105,824|1QQ,Q91|
|Contribution|to defined contribution|pension scheme|75,481|71,042|
||||1,183,485|' 1,136,526|
|The average|number
o|fpers|ons
employed
by the charity during|the year was as follows:||
|---|---|---|---|---|---|
|||||2023|2022|
|||||No|No|
|Management,|research|and|administrative||21|
|2023|2022|
|---|---|
|No|No|
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||||Fixtures and|Office||
|---|---|---|---|---|---|
||||fittings
f|equipment
F|Total|
|||Cost or valuation||||
||'|At 1 April 2022|8,'l96|44,868|53,064|
|||Additions||11,304|11,304|
|||At 31 March 2023|8,196|56,172|64,368|
|||Depreciation||||
|||At 1 April 2022|8,196|38,607|46;803|
|||Charge for the year||5,540|5,540|
|||At 31 March 2023|8,196|44,147|52,343|
|||Net book value||||
|||At 31 March 2023||12,025|12,025|
|||At 31 March 2022||6,261|6,261|
|11.||Debtors||||
|||||2023|2022|
|||Due within one year||||
|||Trade debtors||75,081|68,925|
|||Other debtors||31;612|31,912|
|||Prepayments
and accrued income||400,532|356,454|
|||Tax recoverable|||246|
|||||507,225|457,537|
##
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|||2023|2022|
|---|---|---|---|
|Trade creditors||4,104|31,350|
|Other taxation and social security||63,132|63,613|
|Other creditors||1,264|11,892|
|Accruals and deferred|income|114,399|81,481|
|||182,899|188,336|
|||2023|2022|
|Other taxation and social security||||
|PAYE / Nl control||30,246|31,732|
|VAT control||32,886|31,881|
|||63,132|63,613|
##
##
|Reconciliation
ofn|et|moveme|nt
in funds|to net cas|h flow from operat|ing
activities||
|---|---|---|---|---|---|---|---|
|||||||2023|2022|
|||||||f.||
|Net income/expenditure
Activities)||for the|year (as per|Statement|of Financial|(53,251)|447,305|
|Adjustments
for:||||||||
|Depreciation
charges||||||58540|5,598|
|Interest received||||||(6,146)|(726)|
|{Increase) / decrease||in debtors||||(49,687)|{222,939)|
|Increase
/ (decrease)||in creditors||||(5,437)|27,046|
|Net cash provided|by/(used||in) operating|activities||(108,981)|256,284|
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|||||||2023|2023|2022|2022|
|---|---|---|---|---|---|---|---|---|---|
|||||||E|K|||
|Income||||||||||
|Donations
and grants||||||101,789||365,000||
|Conference
and events||||||383,949||307,494||
|Research and projects||||||287,733||406,917||
|Restricted grants receivable||||||430,760||592,595||
|Subscriptions
and publications||||||149,883||97,575||
|Bank interest receivable||||||6,146||726||
|Miscellaneous
income||||||544||11,921||
|Gross income in the reporting||period|||||1,360,804||1,782,228|
|Less:||||||||||
|Costs ofgenerating
funds||||||||||
|Conference
and events||||||62,038||59,102||
|Research fees and subsciptions||||||14,400||9,643||
|Wages and salaries||||||1,002,180||965,393||
|Employer's
national
insurance||||||105,824||100,091||
|Pension costs||||||75,481||71,042||
|Ofhce costs||||||81,688||75,394||
|Website and IT costs||||||19,005||14,664||
|Advertising,
marketing
and|recruitment|||||9,675||6,401||
|Auditors'
remuneration
(including
underprovision)|||prior|year||12,873||7,679||
|Accountancy
and payroll fees (including
underprovision)||||prior year||8,743||6,462||
|Bookkeeping
(non-audit)||||||3,165||3, 125||
|Legal fees||||||8,475||6,347||
|Staff welfare||||||2,905||2,176||
|Bank charges||||||337||331||
|Travel||||||859||402||
|Mileage||||||51||||
|Depreciation||||||5,540||5,598||
|Entertainment||||||814||1,073||
|Total expenditure|||||||1,414,053||1,334,923|
|Net (expenditure)/income
reporting
period|before||taxatlon for the||||(53,249)||447,305|
|Net (expenditure)/income|for the||reporting||period||(53,249)||, 447,305|
|(Deficit)/Surplus
for the reporting|||period||||(53,249)||447305|
||||||||||Page 26|