2022-12-31-accounts

MONEY 2022 Annual Report Charity Number: 1106941 Company Number: 05244075

The Money Charity Report & Financial State For the year ended 31 December 2022 Reference and Administrative Information. Chief Executive's Message........................................ Trustees, Annual Report................ Independent Examiner's Report................................28 Statement of Financial Activities. (incorporating an income and expenditure account) .30 Balance Sheet .31 Statement of Cash Flows..... .32 Notes to the Financial Statements............................33

The Money Charity Reference and Administrative Information Company Number: 05244075 Charity Number: 1106941 Registered Office and Operational Address: 15 Prescott Place, London SW4 6BS Country of Registration: England & Wales Country of Incorporation: United Kingdom Trustees: Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: L J Ellett J S M Basini J Bryan S P Butler R N Nicholls (From 20107122) (From 25101123) Company Secretary: A Leung Yoon Slung Key Management Personnel,. M Highman, Chief Executive Bankers.. The Co-operative Bank plc, 16 Saltergate, Lincoln LN2 IDG Independent Examiner: Joanna Pittman FCA, Sayer Vincent LLP, Chartered Accountants and Statutory Auditor, Invicta House, 108-114 Golden Lane, London ECIY OTL

The Money Charity Annual Report For the year ended 31 December 2022 Chief Executive's Message Thank you for taking the time lo read The Money Charity's Annual Report for 2022, a year which could only be defined by one highly prominent phrase, the 'cosl of living crisis,. Bul whereas during the preceding years the pandemic had caused significant harm and difficulties to our work and operation, this year's crisis presented u8 with a very different scenario, highlighting the urgent need for our Financial Wellbeing and Financial Education work and, with demand and recognition rapidly increasing, we saw real growih in our delivery and reach. It was truly impossible to get away last year from the subject of the cost of living crisis. From fuel prices lo shopping. mortgages to interest rates. il dominated the news agenda and the phrase was never far from appearing in most conversations. As extreme global and national circumstances combined with the ongoing recovery from the pandemic, we all experienced a year that was more financially challenging for most than any of us would have faced in some lime. In many ways, the heightened awareness of people's challenging financial circumstances was new, bul lo a large extent, the crisis was further exacerbating ingrained issues the UK already had with its own money, from overreliance on credit and unsustainable spending lo poor levels of financial understanding. the many varied challenges of insufficient incomes lo a lack of ability and engagement with effective, robust budgeting and planning. But while we never would have wished any of these circumstances or events on anyone, a rare bright spot to the risis was seeing greater Èmgagemenl with financial issues and money mallers, with those becoming much more common topics of national conversation and many people taking proactive steps to find ways lo manage their money as well as they can. We saw this growing awareness up front and centre with booking requests for our Workshop and Webinar delivery, with demand surging lo record levels for our Financial Wellbeing sessions for adults in workplaces and communities, alongside continued growth for our Financial Education delivery lo young people, recovering back towards pre-pandemic levels. Whether delivered face-to-face or virtually, our direct delivery is foLtndational to our work, getting groups of people of all ages together in a room and then 9elling them engaged with and enthused about managing their money well to achieve their life objectives. For Adults, we bring our delivery to their Workplace, the source of the majority of their income. or in their Community. often in their conlexi of need. Through 2022, we saw exceptional demand for our Financial Wellbeing Workshops and Webinars and il was a level of demand which our team worked incredibly hard lo meet, delivering record numbers of sessions month-on-monlh. Following the encouraging increases of 2021. our end of year figures leapt lo a remarkable total of 613 Hours of delivery to 7.797 People. through 260 organisationsl Alongside all this, the team even found time lo develop our session content, diligently curating the most up-lo-date information on the cost of living crisis, keeping all our sessions as immediately relevant as they could be forthose lo whom we were delivering. They also further developed and refined the structure and presentation of our offering to closely match the needs and requests we were hearing from booking organisalions. While we welcomed this growth. these significant increases really do illustrate a rapidly growing need for people of the services we offer, alongside a far greater awareness frow all sorts of organisations across the UK of their duly to look to support their people in every way possible. Ifft.MONEY C%K£wY

The Money Charity Annual Report For the year ended 31 December 2022 Meanwhile our work with Young People also continued apace, as we brought essential, engaging, interactive and fun learning to young people at the ages where they may make key financial decisions or form the behaviours which will have implications in their coming years. Through the year, we delivered 918 Hours of Workshops, reaching 21,803 Young People throughout England, Northern Ireland and Wales. Bul that only tells part of the story for our Young People's Team, because the major Financial Education headline was us passing the landmark of having reached 250,000 Young People through our Workshops since 20101 All the team and I were immensely proud of this achievement, which fell auspiciously during Talk Money Week (one of the most meaningful dates in our year) and we're still showing off about ill It's testament to the hard work and dedication of 8veryone involved in reaching this point and clearly demonstrates our deep commitment to reaching young people from right across the UK, regardless of background or cSrcumslances. In our Consultancy work, 2022 brought real diversity as we worked across a range of very interesting projects, pushing us for an increased use of innovation in the ways we seek to reach people, from tailoring our Refugee Programme for delivery to diverse groups of people from a refugee background lo working alongside an NHS Trust supporting front-line staff. We also went further in our positive relationship with the seafaring community, as our Consultancy work from 2021 yielded new connections from that community. Through the year, we further progressed our promotional material and website, with our social media presence and following increasing as well, in particular on Linkedln where our audience grew by a notable 60Q/.. Our monthly Money Statistics remains one of our most popular offerings. Through it. we looked at a wide range of topics, unsurprisingly dominated by the cost of living and ongoing Covid-recovery, but we were also able to cover diverse issues such as employment, wages, utility spending and Financial Resilience. Moreover, we saw record highs of response rates lo the report. Clearly, the interest in, or need for, the valuable insights our objective and impartial viewpoint provides is only growing, $0 if you aren't already a subscriber, there's no better lime to get it straight into your inbox, sign up! Our wider Policy influencing work also continued and we were pleased to contribute to a number of consultations on wider issues affecting peopl8's financial day-to-day, such as the new Consumer Duty, the Financial Resilience APPG or Authorised Push Payment Scams, as well as subjects we have long advocated against like bank branch and ATM closures. We will continue monitoring these areas with interest and speaking LJP in the coming year. Through all the challenges, our work remains underpinned and supported by our invaluable funders, without whom we would be able to achieve very little and our considerable thanks go out to them 811, both new and existing partners. With the early signs for 2023 being Ihal the crisis is not going away any time soon, the UK will need lo focus on Financial Wellbeing like never before, so it should be an exciting and impaclful time to join us in partnership. We hope Ihat Sn the rest of this report, you will see how hard we have worked through 2022, so that we can continue to see the UK increase ils Financial Wellbeing by managing its money well. by supporting people of all ages, backgrounds and abilities in making the most of their money, reducing their stress and the burden of financial worries so they can live happier, more fulfilled lives. If you would like to help us in this mission, in any way at all, please do gel in touch with us so we can start a conversation. We'd love to hear from youl Michelle Highman Chief Executive 1UMONEY CKaKLAJ

The Money Charity Annual Report For the year ended 31 Decetnber 2022 Trusteesy Annual Report The trustees present Iheir report and the financial statements forthe yearended 31 December 2022. Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles ofassocialion and the Statement of Recommended Practice Accounting and Reporting by Charities.. SORP applicable to charities preparing their accounts in accordance with FRS 102. Objectives and Activities Purposes and Aims The Money Charity is Ihe UK'S Financial Capabilily & Wellbeing Gharity, providing education, information, advice and guidance to all. Our vision is that everyone achieves Financial Wellbeing by managing their money well. We empower people across the UK to build the skills, knowledge, attitudes and behaviours to make the most of their money throughout their lives- helping them achieve their goals and live a happier, more posilive life as a result. Our charitable objectives were reviewed in 2018 and changed in 2019 to better reflect our focus. They are.. the prevenlion of linanoial hardship in Ihe United Kingdom for the public benefit, in particular, but not exGlusively, by providing money management education, advice and infonnation IftyMONEY

The Money Charity Annual Report For the year ended 31 December 2022 We do this primarily through our own delivery, but also through influencing and supporting others. We develop and deliver products and services that provide education, information and adviGe on money matters for those in Ihe Workplace, in our Communities and in Education. We also influence and support others to promote Financial Capability and Financial Wellbeing, through Consultancy, policy, research and media work. We will continue to develop our offering to find innovative and engaging ways to do this and to cover the whole of the UK more comprehensively. MONEY Our vlslon Is that everyone achleves FlTh#nelal Wtllbelng by managlng th•lr iji; money well. The trustees review the aims, objectives and activities of the charily each year. This report looks al what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people Ihat it is set up to help. The review also helps the trustees ensure that the charity's aims, objectives and activities remain foGused on its stated purposes. In Schools and Collegeq Workpl and Commu The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular. the trustees consider how planned activities will contribute to the aims and objectives that have been set. Everything the charity does focuses on improving the Financial Wellbeing of those in the Uniled Kingdom. Our long-term objectives are to increase individuals, ability to manage and make the mosl of their money. Day-to-day, our work is focused around four key areas: supporting adulls in Workplaces and Communities, supporting Young People, Consullancy work and Influencing others. Our main focus and the area that we spend the majority of our resourGes on. is the direct delivery of Financial Capability and Wellbeing products and services to people of all ages. 1•MONEY

The Money Charity Annual Report For the year ended 31 December 2022 Achievements and Performance The charity's main activities and who it tries to help are described further below. All its charitable activities focus on Financial Wellbeing and good money management., these are undertaken to further The Money Charity's charitable purposes for the public benefit. We measure our success in many ways. One of the most important is the number of people we reach with our support and messages, whether this is the number of participants at our Workshops and Webinars, those who read our Manuals andlor Money Statistics reports, or how many access our website orfollow our social media channels. We also look at the number and location of schools we work in, the numbers and types of not-for-profil organisations and community groups we partner with, as well as the range of commercial organisations whose staff we can reach with our training. The quality and impact of our delivery is another key benchmark for us. Alongside our independent evaluation agency Futureproof, we evaluate all our Workshops and Webinars each year to provide benchmarks for the impact we are having. In 2023 we will be publishing, for the first time, a full annual Impact Report on our website, further detailing the effectiveness of our work. We also put weight on the quality and reach of our communications, including consultations, participation in sector groups, alongside other policy and influencing work in the Financial Capability area. Details of some of the key benchmarks and outcomes during the year are described below and in the infographics which follow. Youn Peo We need to reach people with Financial Education well before they 'need' it. Financial Education has now been on the English curriculum since 2014, but there are still no central resources allocaled to supporting it, no clear and consistent positioning for where in the curriculum il belongs, nor any framework for its evaluation and implementation covered by Ofsted. This is the situation despite the evidence that good financial understanding and approaches, once embedded, can beller prepare young people for entering into adult life, changing their prospects and lives for the better while also being beneficial to wider society. Young people receiving some form of Financial Education at school is increasing. While the Money and Pensions Service reported in 2020 that only 480/0 of those aged 7-17 received basic Financial Education at home or at school, a 2021-22 LIBF report pul the total at 73./0 of young people, with a particular increase amongst 15-16 year-olds. However, other research shows disparities behind these rates, with those in more disadvantaged areas significantly less likely to have been reached with this type of input. 1fo. MON EY ClThKik-

The Money Charity Annual Report For the year ended 31 December 2022 Teachers, or those working with young people, often tell us how they feel ill-equipped and lacking confidence in helping them find out about how to manage Iheir finances in a rapidly changing world, where money is increasingly virtual and those who go on to university are likely to graduate into a challenging working world, with a starting point of heavy indebtedness. Against that backdrop. it is vital for young people's lives that they can grasp early the essential importance of budgeting, financial planning and making well-informed financial decisions. Financial Education Money Workshops The aim of The Money Charity's Money Workshops is to provide the building blocks to sound money management, helping young people to develop the skills, knowledge, attitLJdes and behaviours they will need so they Gan make the most oftheir money throughout Iheir lives. We offer unique and tailored Financial Education Workshops designed for young people aged between 11-19 years, as well as further sessions suitable for groups of students at Universily. Our Workshops are designed with flexibility so they can fit easily into timetables or schedules. with a modular approach which means that leachers and practitioners can pick and choose the topics they think are mosl relevant to their classes or groups. Delivered to groups of up lo 40. they coverthe essentials of staying on top of your money, including using money to achieve your goals, saving, tax, how to read a payslip, understanding credit as well as financial products like banking and student finance. EaGh Workshop includes a range of activities, the chance to debate and discuss, with relevant takeaways for the young people. We often deliver as part of designated lesson times, such as during Citizenship, Maths or PSHE, while our Workshops are mapped to the English, Northern Irish and Welsh Curricula. Our Money Workshops are available for schools, colleges, universities and also other youth settings such as charities and community groups that work with young people. Every session is delivered by one of our expert facilitators, either a member of staff or one of our freelanGe Consultants. who are based around the country and engage the organisations in their area through active promotion and ongoing relationships. Following recent years, challenges, we were delighted this year to continue rebuilding our delivery reach, wilh the significant majority of delivery now direct and face-to-face with pupils, where that vital interactivity and engagement is Ihat much easier to faGilitate. We continued to work through the year to expand and update our Workshop options, developing specific new content tailored to -* MONEY CknKLAJ

The Money Charity Annual Report For the year ended 31 December 2022 addressing the cost of living crisis, which will have affected families across the UK, as well as increasing awareness of financial issues and money conversations. Overall, Workshop demand continued to increase, with delivery levels moving mLJch closer towards their pre- pandemic levels. Through the year we delivered a lotal of 918 Hours of Workshops, which reached 21,803 Young People throughout England, Northern Ireland and Wales. Of the year's total delivery, 604 Hours were delivered to disadvantaged groups. including vulnerable groups of young people and those in Schools with an above average percentage receiving Free School Meals. 918 Hours of Workshops Delivered to 21,803 Young People However. the main story of the year for our Young People's Team could only be the passing of a major Financial Education milestone. During Talk Money Week in November, we delivered to our 250,OOOth young person since 20101 Reaching the landmark of Money Workshops for a quarter of a million young people was a source of incredible pride for us, as we calGulated this meant we had delivered to an average of around 20,000 young people each year, or the equivalent of an impressive 53 young people every day slnce 2010. We celebrated Ihis incredible achievement throughoul the week in style, across our website. socials and emails. Plus of course we also had to celebrate with Workshop attendees themselves, so all the various places we delivered to during that week also joined in the celebrations, with goody bags and giveaways for those attending Workshops. Following our work in 2021 in partnership with Teenage Cancer Trust, funded by the MaPS Children and Young People Financial Education Innovation Programme, we were encouraged by the strength of the project's final evaluation report. Having worked together to enable young people with cancer to better understand the ways that cancer might affect their financial lives, as well as how they could manage their money to overcome different challenges, it was great to see the report confirming the success of this partnership. It affirmed the need of the participants and Ihe project's Suc￿sS in achieving its aims, noting particularly increases in understanding and knowledge levels of participants, development of positive attitudes for the topic and increased self-confidence. Impact We always want to leam more about the effectiveness of our Workshops, as well as how they can be improved. Our evaluation agency helped us progress this and in 2022 we found that.. Young people reported a 23°/0 increase in their ability to manage their money after one of our Workshops, along with a 15°/0 improvement in their ability and willingness to talk about money matters with close contacts. 740/0 of young people said they would recommend our Workshops lo others. Teacherslbooking organisations reported a significant increase in young people's ability to manage their money, willingness to talk about money, as well as their confidence in making 10 -1t MONEY

The Money Charity Annual Report For the year ended 31 December 2022 financial decisions. 92 % would be interested in booking further sessions and over 970/0 would recommend us to their peers and colleagues. Teacher Resource Packs We believe that educating pupils at school about their finances, at an age where they are starting to encounter having their own money and making future decisions, is one of the most important things we can do. That's whyour Teacher Resource Packs remain a helpful part of our Financial Education offering. The paoks are styled as "lessons in a box" that can follow-on from and supplement one of our Workshops, or be sent to those who may find it difficult to schedule a session. Our full range of 13 packs focus on a wide range of accessible Financial Education subjeGts. suitable for KS3 and KS4 groups. EaGh pack is designed to fit into the curriculum, with the flexibility to fit into different lesson lengths, meaning teachers are facilitated in delivering engaging material, whiGh has been developed with the benefit of our expertise and experience, to their classes. Teachers nearly all understand the importance of impactful Financial Education for their classes, but for many, time pressures, lack of confidence or not feeling well enough informed themselves hold them back. Il's positive then that we distributed 356 Teacher Resource Packs in 2022. student Money Manual Many young people who may have received little or no Financial Education in school face managing their own money for the first time as students, against a backdrop of heavy and increasing student debt. One 2022 survey found that 82 /0 of students worried about making ends meet, with four out of five thinking about dropping out. We therefore produce our Student Money Manual (SMM) eaGh year as an essential, accessible guide to student finance and how to manage money at university. It provides key information both for young people who are considering going to university (and may be unsure if they can afford to), as well as those who are already there and are looking for more input into how they manage their finances at this new stage of financial independence. TMI gTuPINT MONIY MQNUQL 9198 ThIIUEIT14LiUIDE IO¥IRABIII¥OUOIIOhEV ATUIIA*i BEVCIJ Historically, the SMM has been unique in its status as an annually updated hard- copy resource. However, the last few years have made this impossible and impractical, meaning recent editions have been available as an interactive PDF download instead. Keeping this digilal-only also has the additional benefil of keeping the resource free and more easily distributed, greatly increasing its appeal for students being savvy about their cash, which is clearly one of our main goalsl MONEY -rf MONEY CknKLAu

The Money Charity Annual Report For the year ended 31 December 2022 Work lace and Communit We develop people's Financial Wellbeing regardless of their age, background and stage of life. Although now part of the curriculum, most adults never received any Financial EdLJcalion during sGhool, university, or as part of an apprenticeship scheme. According to The FCA in 2020, 28 % of adults had low confidence in managing their money, while MaPS found that 29 million {52 /0) of adults say they do nol feel comfortable talking about money and 63 % do not feel they can determine what happens in their lives when it comes to money. Increasingly, UK employers are also aGknowledging the link between employees, wellbeing and their performance at work, with stress now the number one work-related health problem. A Close Brothers survey found that 94 10 of UK employees admitted to worrying about money and 770/0 of those saying money worries impact them at work. Furthermore, employees value support in this area, with the CIPD reporting that 59,/0 of workers believe it is important that their current employer has a policy in place to improve their Financial Wellbeing. Clearly there are not only welfare, but also sound business reasons for providing Financial Wellbeing training al work. Plus with our independent, impartial viewpoint, employers can be assured they are equipping their staff with skills, knowledge and confidence, rather than straying into individualised financial advice. Workplace Financial Wellbeing Workshops Following encouraging growth we saw in 2021, demand for delivery of our Workshops and Webinars skyrocketed 2022. In the context of the cost of living crisis and as we continued to move on from the pandemic, we had certainly expected to see increases enquiries and bookings from Workplaces. However, we were still amazed by the sheer level of demand and month-on-month saw new records being set in our sessions delivered and reach of people. Through the year, we delivered an incredible total of 399 Hours of our Workshops and Webinars, reaching 5,826 People. This was almost four times as many delivery hours as in 2021. the Adults, Workplace- Delivery Hours 450 400 350 300 250 200 150 100 50 2018 2019 2020 2021 2022 12 -r• MONEY CIW

The Money Charity Annual Report For the year ended 31 December 2022 As the crisis continues in 2023 and as ever more organisations become better attuned to their need to support their employees, wellbein9 in whatever ways they can, we only anlicipate these numbers growing ever upwards. Our year's delivery was across a total of 182 commercial clients, with a number of very well-known organisalions from a diverse range of sectors amongst them, such as AJ Bell. B&Q, Haier EuropelHoover Candy, Hitachi, HyperJar, Jamie Oliver Group, MoneyBox, Network Rail, Octopus Energy, Organix, Ubisoft, UNISON and Unite, as well as with a number of local counGils, various NHS Trusts and central bodies plus universities. This diverse list truly demonstrates the quality and prestige of our offering. Alongside keeping up with this unprecedented demand, our WorkplaGe & Community team worked diligently to refresh and reshape all of our core content to better suit the requests we were re￿iving, proaGtively responding to the needs of clients. An essential part of this was compiling the most up-to-date and useful information available which directly spoke to the cost of living. This content included both the most recent picture of where things stood for many people, but also distilling the various options and support measures available and to whom. These aspects of our sessions have been especially well received, helping people navigate through the current times and feel as well equipped as they can. 399 Hours of Workplace Workshops delivered to 5,826 People This year also saw the launch of our new Money Mentoring Programme for the Workpla￿, adapted from a Programme delivered in Community settings in previous years. We delivered four cohorts of this four-part Programme in partnership with three pioneering national organisations, receiving exceptional feedback from attendees about their improved ability to support Golleagues and customers with money matters. Our Workplace delivery really is a critical ple￿ of our overall work. as it allows us to effectively reach a diverse and meaningful portion of the UK'S adult population during their working lives. As a commercial activity, it also generates valuable income which is then used in turn to support core operations of the charity, investing in people and in improved systems and processes. Notably, our team expanded from one to Ihree Training Officers, as well as building capacity and subject matter expertise with the hire of a new Financial Wellbeing Programmes Manager. Additionally, this income supplements the other charitable funding we receive, which can then be dedicated lo our work with 13 1•MONEY

The Money Charity Annual Report For the year ended 31 December 2022 young people and communities, as we aim to keep these areas of our work available for free or funded wherever possible. We know all too well how heavily affected the UK'S household finances have been by the upheaval of the last few years, meaning the subject of Financial Wellbeing will continue to increase its prominence in the wider conversations around wellbeing in the months and years to come. As 2022 showed, employers are becoming more acutely aware of their responsibility for, as well as the challenge and vilal importance of, their employee's wellbeing. We remain extremely well-placed lo meet those needs, due to the uniqueness of our fully independent and impartial offering. Community Financial Wellbeing Workshops Thanks to support from our funders, our Community Financial Wellbeing Workshops offer charities, community groups and voluntary organisations the opportunity to access valLJable training for their beneficiaries and volunteers which they would often be closed off from due lo budget constraints. We have a wealth of experience and expertise delivering Workshops, which enable these organisations to invest both in those they work with and those who deliver that work, as well as inspiring ihose passionate about financial issues to step into volunteering opportunities to further spread the word within their communities. Using relevant examples, delivery and materials, our Workshops cover a wide range of topics, including attitLJdes to money, aspirations, budgeting and planning your finances, managing everyday money, building FinanGial Resilience, pensions, borrowing and saving to achieve your goals. The Workshops are engaging and relevant, focusing on developing Financial Capability and therefore improving Financial Wellbeing. During Workshops, participants are introduced to a range of tools, techniques and other organisations offering information and support, to help Ihem lo manage their money belter. Alongside our Workplace sessions, there were similar requests from Community clients for the most up-to-date cost of living oontenl to enable Workshop attendees lo feel best placed in tackling the effects of the Grisis. We therefore rolled out these regular updates across all our delivery, leading to LJS delivering 184 Hours of Workshops in 2022 to and through 78 not-for-profit partner organisations, reaching 1,716 People. Again, these were totals comfortably beyond our year's targets and represented a great result on our vital commitment to reaching all sorts of adults in different life settings. As a charity ourselves, we know how deeply challenging recent years have been for charities and community organisations. That's why we saw so many keen to work with us in 2022, as well as why we intend to keep meeting this growing need for the many worthy organisations who will need il. 184 Hours of Community Workshops delivered to 1,716 People 14 1kn MONEY Ck£wtk

The Money Charity Annual Report For the year ended 31 December 2022 Groups reached in 2022 included those supporting people's mental health, working with people who are homeless (or at risk of homelessness), people who have experienced Ihe care system, those with caring responsibilities, residents of housing associalions. women's aid charities and health charities. Within the figures oullined we delivered 56 Hours of our refreshed Financial Wellbeing Programme for Refugee & Asylum Seekers, helping those who are new to Ihe UK to build their confidence to navigate the UK financial system, handle their day-to-day finan￿S, keep their money safe and manage their energy bills. Whomever it may be, we bring an ultimately positive message: that everyone can be in Gontrol of their finances and develop a positive relationship with money regardless of age, stage, background or situations. Impact Our impact and evaluation partner also helped us find Gompelling measures to demonstrate the quality of our work across both Workplaces and Communities. In the Workplace, Workshop participants reported a 240/0 improvement in their ability lo manage their money and their willingness to talk about money, while 97 /0 of participants said they would recommend our sessions to others. While on the Community side, these figures were 260/0 and 930/0 respectively. The Money Manual Our Money Manual sits Gomplementarily alongside our Student Money Manual as a really useful, additional-value resource for our Workplace & Community work, whether that's given out for free to all Workshop attendees orfor those ordering copies from our website. As we came towards the end of 2022, we were delighted to agree a new funding partnership to enable a full update and refresh of The Money Manual, a projeGI which will fully commence through 2023. IHEESSEKtIAL GUIDETOMANAGING YOUR MONEY Consultanc Our long history of Consultancy work means we can offer our unique perspective, experience and expertise to add real insight and value to organisations working on a project or product. An organisalion might need support in building a Financial Wellbeing hub for their employees, or they may want our input in producing strong, engaging Financial Education Gontent for a new resource helping parents who want to talk about money with their children. They may be looking to develop a new money management app, or need a critical friend who Gan help them ask the right questions about a new projecl or product. They might just want our help in gaining consumer and sector insights from our Financial Wellbeing perspeGtive. 15 1•MONEY CknLAu

The Money Charity Annual Report For the year ended 31 December 2022 Whether il's a one-off project or a whole suite of work, we have over 25 years of experience in the Financial Wellbeing, Financial Education and Financial Capability sectors, meaning our diverse staff leam and network of consultants can bring unique perspectives to any organisation. Those engaging with us in this way also allows us to bring positive, aspirational Financial Wellbeing messages to many more people. reaching them in appropriate ways through the organisations they already trust. 2022 saw real diversity across some very interesting projects, with an increased use of innovation in how we seek to reach people. Projects included working with World Jewish Relief to tailor our Refugee Programme for groups of women from a refugee background as part of their STEP Forward initiative. We also delivered numerous projects to get Financial Wellbeing support to speGific professions, partnering with an NHS Trust lo get pre-recorded webinar and tailored intranet content lo front-line staff in nursing, portering and other patient-facing roles, as well as continuing to engage with the seafaring community through a partnership with Seafarers Charity and the Merchant Navy Welfare Board. We were also a key partner on Homestart's Healthy Happy Homes Project, producing Financial Wellbeing e-learning modules for volunteers and staff working with young families across over 160 local branches. We also collaborated wilh Goldman Sachs, BNY Mellon and Centrepoint on an exciting projeGt called Be The Change, aimed at direct delivery of bespoke sessions to young people who are homeless (or at risk of being homeless), a5ongside sessions for Cenlrepoint staff and volunteers supporting those young people. While our Consultancy work is a key aspect of our income generation, it also truly benefits our clients too. While they gain access lo our expert support, clienls have the additional bonus of knowing that they're supporting the widerwork of The Money Charity, helping us deliver more Workshops lo those that most need them, enabling us to continue producing valuable resources and speaking up in Policy & Research so our society's financial systems deliver better outcomes for people every day. Polic Research and Communications Advocating, conlributing lo policy consultations and working with financial service providers to encourage developments that make money fairer, as well as easier to understand and manage, are vital elements of our work. As a small national charity with a big vision, these are ways we can influence decision-makers. encourage others to provide Financial Capability support and improve the financial lives of people across the UK. In 2022. we submitted responses to 13 Consultations. As ever, these were on a broad range of topics, from the new Consumer Duty to an APPG on Financial Resilience, Dormant Assets to APP Scams, alongside issues we have long spoken against suGh as bank branch and ATM closures. This range 16 -f• MON EY

The Money Charity Annual Report For the year ended 31 December 2022 of topics illustrates the many diverse factors that go into improving the UK'S Financial Wellbeing, along with the many Ghallenges people face in their day-to-day money management. We remain an active partlGipant within the Financial Capability sector, working wilh Golleagues in fellow organisations who share our vision and mission, including membership of groups such as the FCA'S Consumer Network. We also Gontinue to work with our fellow FinanGial EduGation charities within the Youth FinanGial Capability Group IYFCG) and a particular highlight of the yearwas developing. refining and releasing the YFCG Joint Policy Position on Financial Education, a clear and strategic Gall for the essential changes we believe need to be made in order to see more and belter Financial Education for all young peopl8 across the UK. 127BNK MONÈY As more events recommence being run in person, we have also been able to rebuild this aspect of our work. providing our presence and a key voice of expertise al events such as the APPG on Women and Work or the Financial Education APPG, the TISA Vulnerability Conference, or through our membership of MaPS' Financial Wellbeing delivery forum. We also participated in a number of awareness raising days and weeks which align with our work, such as the #PensionAttention campaign or the new UK Savings Week, as well as events which offer opportunities to highlight areas of our delivery, such as Refugees Week, Carers Week or National Apprenticeship Week. Our Website and Social Media The Money Charity's objective is that Financial Capability support should be available to everyone who needs it. As we can't provide direct face-to-face support for everyone, we publicise the issues of Financial Wellbeing and Financial Education through our press releases, website, social media and emails. With the world growing ever more digital, the challenge for all our channels is lo keep moving. ensuring they are the best shop window for our work that they can possibly be. Our website aims to offer straightfoNard, friendly information, as well as our resources, services and tools, receiving nearly 25,229 Visits to around 48,913 Pages from over 18,640 Unique Visitors throughout the year. It was great to see our traffic growing as we continued to dedicate resource, consideration and development time to improving, updating and developing vital user-focused aspects of our site. Our free online Budget Builder continued to engage many more people with taking their first steps into budgeting, with 1,384 New Users, taking the total to just over 9,300. 17 -Y•MONEY

The Money Charity Annual Report For the year ended 31 December 2022 Our social media channels continued to grow steadily and, while Twitter remains by far our biggest following, we saw particularly strong growth on Linkedln, which continued its upward Irend with around 60°/o growth. By year's end, our total social following had increased to just under 9,100, with our posts making il into the news feeds of around 123,500 People. The Money Statistics We trawl multiple statistical sources and crunch the data each month to produce the unique perspectives and fascinating facts of"The Money statistics" our objective round-up of the most important numbers in UK money, debt, credit, tax and benefits, housing and the economy. The power of The Money Statistics isn't just the varied and engaged audience they reach, bul the stories they allow us to tell about the UK'S Financial Wellbeing. They are a platform for objective and impartial information, compiling and presenting complex information in a way that can be used within press and online, highlighting a variety of vital issues. Unsurprisingly, the numbers illustrating the ongoing cost of living crisis dominated the narrative in 2022, bul we were also able to look at employment, wages, utility spending and Financial Resilience. The report remains one of our vital ways of raising complex and challenging issues and generating furlher positive discussion and hope for change. 2022 was also a particularly strong year for The Money Stals in terms of ils reach. While the overall readership did grow, we saw real increases in the rates of those who receive the report both opening it and then reading on. Clearly, even more of our audience are realising the value of our independent analysis and commentary and luning in for our insights. While the report is directly received by these people each month, the content then spreads far and wide beyond that, with a variety of sources sharing and making use of them in both their professional and personal lives. Many sites, media outlets and individuals will quote from them or use them as vital research or evidence. as well as key launching points into their own stories and presentations. The Money Statislics conlinue to be the most popular page on ourwebsite alongside the homepage, demonstrating both a strong desire for this information, as well as a clear indicator that this remains a vital thread of our work and one of the things for which we are best known. 18 1kn.MONEY (Jwik4

The Money Charity Annual Report For the year ended 31 December 2022 Highlights of our 2022 Achievements Workshop • Webinar Delivery in 2022 918 Hours of Workshops Young People 918 Hours Adults in the Community 175 Hours Delivered to 21,803 Young People Adults through Corlsultancy projects 30 Hours Adults in the Workplace 399 Hours 1,531 Hours TOTAL 184 Hours of Community Workshops delivered to 1,716 People 613 Hours of Workshops & Webinars 399 Hours of Workplace Workshops delivered to 5,826 People Delivered to 7,797 Adults in Workplaces & Communities 19 1EMONEY CkAKLAJ

The Money Charity Annual Report For the year ended 31 December 2022 Adults, Workplace - Delivery Hours 450 400 350 300 250 200 150 100 50 2018 2019 2020 2021 2022 25,229 Website 9,093 Followers on Social Media Visits Our Posts Reached Up To 123,528 People 13 Consultation Responses Submitted 1,384 NEW Budget Builder Users 9,308 TOTAL 20 1fo MONEY

The Money Charity Annual Report For the year ended 31 December 2022 Fundin We have continued to benefit from support from many of our much-valued existing funders, some ofwhom have supported ourwork for many years, such as Vanquis Banking Group and Clearscore. We also Continued in partnership with organisations like Bristow & Sutor. the National Lottery Community Fund, MSN Fund and Postcode Society Trust. In 2022 we warmly welcomed, amongst others, Aldermore, Asset Value Investors, RBC Brewin Dolphin, Community Foundation Wales, Garfield Weston Foundation, Institute and Faculty of Actuaries Foundation, Lowell, Longhurst, Octopus Energy, the Openwork Foundation and Topcashback, who were either new or returning funders. Beneficiaries of our Services The beneficiaries of our services are people of all ages and backgrounds across the UK. Our face- to-face and virtual delivery in schools, colleges, community groups and workplaces takes place in England. Northern Ireland, Scotland and Wales. Our digital and printed information and resourGes are available across the UK. Financial Review Overall income for Ihe year amounted to £721,307 (2021 £395,591) with an expenditure for the period of £523,838 (2021 £436,433). Net income was £197,470 compared with -£40,842 in 2021. Net unrestriGted income amounted to £30,661 (2021 £38). 21 MONEY

The Money Charity Annual Report For the year ended 31 December 2022 Net assets of the Gharily amounted to £442,418 {2021 £244,949) at 31 De￿mber 2022, comprising £149,598 {2021 £118,937) of unrestricted reserves and £292,820 (2021 £126,012) of restricted reserves. At year-end, there were no material commitments of unrestricted reserves not provided for as a liability in the accounts. 2022 showed a marked improvement in our finances with income up by £325,716from the previous year. For the five years pre-2020, we had received significant unrestricted donations from a number ofsources. This had not been the case in 2020 and 2021 and so we have continued to adapt to the steep drop in our unrestricted income by diversifying our income and increasing our earned income. The earned income we receive from selling Workplace training, plus an increased interest in our work more generally and with it, new funding partnerships, has meantthat we have been able lo make a reasonable profit for the first time in a few years. We continue to use a number of at-hand bank accounts and deposits to provide an appropriale mix of security, investment income and short-term access. At year-end, bank and cash balances were £483,119 (2021 £264,304) and no short-term deposits (2021 none). It has been the historical policy of the organisation to ensure expenditure is closely linked to income, although this Gan vary with the timing of significant projects and this principle will continue in the future. Our financial position in Ihe future will depend on a number of factors, primarily our ability lo Gontinue to raise funds, build our earned income and manage our cosl base, as well as to retain our staff and continue to achieve desirable outcomes for those we suppori. while evidencing this for our funders and the wider community. Principal Risks and Uncertainties There remains a risk that we will not be able to generate sufficient income ourselves lo cover our expenditure, either through paid-for training and Consultancy or restricted projects, without also receiving unrestricted donations to Gover our costs. This risk has reduced since 2020 as we have made real progress in generating income ourselves. In addition, we have found that the current cost of living crisis has helped make what we do topical and necessary and as a result we have also seen an increase in our donated funds. However it is still the case that it continues to be difficult lo raise funds in the Financial Capability & Wellbeing sector. Although what we do is valued by our beneficiaries and beyond, the debate as lo who should pay for it continues. The focus of the Money and Pensions Service continues lo be on crisis debt solutions, rather than the more preventative work we do. There is therefore still no sustainable long-term funding source for this sector. Secondly there is a risk in expanding the charity, particularly in a more commercial direction, to recruitment. retention and expertise in these newer and expanding areas. We are working with 22 -T• MONEY Ckniky

The Money Charity Annual Report For the year ended 31 December 2022 external partners to provide markeling expertise to create a plan to take this forward in a cautious manner over the next few years. We are also aware that our slaff are the backbone of the charity. We have recently completed a benchmarking exercise and created a pay framework to ensure all staff are appropriately rewarded. We awarded an across-the-board pay rise in response to the cost of living crisis in April. Reserves Policy and Going Concern It is the policy of the charity that the unreslricted funds not committed or invested in tangible fixed assets (the free reserves) held, should equale to a minimum of three months of our unrestricted expenditure. In December 2022, unrestricted free reserves had increased to £145,893 (2021 £116,511), which represents 2.8 months worth of reserves. We have calculated this number on a cautious and forward-looking basis by using unrestricted free reserves as at the end of 2022 and average predicted unrestriGted expendilure for the next 12 months from the date of signing this report. Therefore we are Comfortable with our level of reserves at this stage, even though they are slightly below our target. If we ever need to use our reserves in the future. we will first consider reducing unrestricted expenditure, hence increasing the number of months our reserves are worth. Increasingly we are generating income through Consultancy and training delivery and whilst this is welcome, it is not secured much in advance of delivery, so makes forecasting with certainty more difficult. However. the cost of living crisis and an increased focus on Financial Wellbeing leads us to believe that there is an appetite for what we do and that we can continue to attract income at an increasing rate. In addition, we have recently secured some new restricted project funding including a number of multi-year partnerships. meaning our ability to deliver in this area with certainty is also reasonably secure. Should our hopes for maintaining income over the next 12 months not be met, our reserves are sufficient to cover the difference in the short-term. Overall we are cornforlable that the charity is a going concern for at least the next 12 months with no material uncertainties. Fundraising Appointed in 2019 as our fundraising agenGy, Oaks Consultancy Gontinued their work throughout 2022 and we spent£25,297 on fundraising in this way {2021 £25,842). Management ofourcorporate fundraising was done by the senior management team. 23 -f•MONEY

The Money Charity Annual Report For the year ended 31 December 2022 We do not fundraise directly from the public, other than facilitating this on our websile. In addition, we have a small number of individuals who choose to donate annually or monthly. We do not market to our donors and so we are not registered with the Fundraising Regulator. We have received no complaints about our fundraising. Plans for the Future In 2021 we conducted a strategic review of the charity to set a strategic and forward direction for 2022 to 2024. This reaffirmed our commitment to focusing on achieving Financial Wellbeing for all those we work with, through our tried and tested melhods, such as Workshops and other resources, whilst adapting and innovating to ensure our relevance and that we remain engaging. We intend to focus on: increasing restricted income and delivery for our Young People Money Workshops., increasing earned income through Financial Wellbeing training for Employers., increasing earned income through the provision of Consultancy services. and maintaining, or increasing slightly, restricted income and delivery for our Adults in the Community Financial Wellbeing Workshops and our influencing work. It is likely that at this high level, those areas of focus continue to be relevant, however the Financial Wellbeing training for Employers in particular has been more successful than we imagined and that without doing any marketing significantly more than our usual level of activity. In 2023 we will therefore deliver a piece of work to Greate a more in-depth marketing plan for this area and potentially to resel our expectations in this space. We will also consider the consequences for the wider charity. As a result we may create a new 3 year plan earlier than initially anticipated, in order to adapt and reflect these changes. Structure, Governance and Management The organisation is a charitable company limited by guarantee, incorporated on 2810912004 and registered as a charity on 2311112004. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed 24 1kn. MONEY (JLLWLty

The Money Charity Annual Report For the year ended 31 December 2022 under its articles of association. All trustees give their lime voluntarily and receive no benefits from the charity. In 2022, there were no expenses reclaimed from the charity. The governing body is the board of trustees. Four board meetings were held during the year, one by video conference call, two at The Money Charity's office and one hybrid meeting. The charity's trustees and senior management attended these meetings. The Chief Execulive (Michelle Highman) who is appointed by the trustees, manages the day-to-day operation of The Money Charity's activities under delegated authority. The Chief Executive is responsible for mainlaining the direGtion of the organisation thus ensuring the charity's objectives are achieved. At year-end, the Chief Executive was supported by nine staff, of whom six were part-time. The charity's staff are all based at our head office in Clapham, London bul are all currently working in a hybrid way. Appointment of Trustees The directors of the Gompany are charity trustees for the purpose of charity law and under the Gompany's Articles are known as members of Ihe board. The board ensures that when admitting trustees, it takes into account the need for trustees to Gontribute to the skills and ba5ance of the board as a whole. Recruitment is normalSy conducted on an open basis, unless a particular skill or need is identified which is best fulfilled by a known individual. Trustees are formally eleGted to post by the Gurrent trustees. In 2022 we recruited one new trustee. Trustee Induction and Training New trustees are inducted Ihrough a combination of face-to-face or virtual meetings and the provision of an induction pack. Remuneration Policy for Key Management Personnel The Chief Executive's remuneration was set by the trustees on appointment in 2011 and had not increased since then. This year for the first time since her appointment. because of the cost of living crisis, we decided lo award an across the board 5°/0 pay award which included the Chief Executive. 25 1kn.MONEY

The Money Charity Annual Report For the year ended 31 December 2022

Statement of Responsibilities of the Trustees

The trustees (who are also directors of The Money Charity for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• ●Select suitable accounting policies and then apply them consistently

• ●Observe the methods and principles in the Charities SORP

• ●Make judgements and estimates that are reasonable and prudent

• ●State whether applicable UK Accounting Standards and statements of recommended practice 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 inappropriate to presume that the charity will continue in operation

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 December 2022 was 4 (2021: 3). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on date 19 April 2023 and signed on their behalf by

Justin Basini

Trustee Date: 19 April 2023

26

The Money Charity Thank You to all our friends and supporters, including: Alan Boswell Group Charitable Trust Aldermore Asset Value Investors RBC Brewin Dolphin Bristow & Sutor Buzzfire Ltd CECA Southern Clearscore Community Foundation Wales Experian Garfield Weston Foundation The Ideas Exchange Institute and Faculty of Actuaries Foundation The John Coates Charitable Trust Longhurst Lowell Mindful Wealth Money Dashboard Moneysprite The MSE Charity MSN Fund The National Lottery Communlty Fund The Newcomen Collett Foundation Octopus Energy The Openwork Foundation Pepper Money Postcode Society Trust Punter Southall Aspire Sopra Steria Sovereign Housing Assoclation Topcashback Vanquis Banking Group + Donations from Open Banking Expo attendees & Google employees And our many individual supporters and users of our service.

The Money Charity Annual Report For the year ended 31 December 2022 Independent Examiner's Report to the Trustees of The Money Charity I report to the Irustees on my examination of the accounts of The Money Charity for the year ended 31 December 2022. This report is made solely to the trustees as a body, in accordance with the Charities AGt 2011. My examination has been undertaken so that I might slate to the trustees Ihose matters l am required to state to them in an independent examiner's repori 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 trustees as a body, for my examination, for this report, or for Ihe opinions I have formed. Responsibilities and Basis of Report As the charity trustees of the Company you are responsible for the preparation of the accounts in accordance with the requirements of Ihe Companies Act 2006 ('the 2006 Act'l. Having satisfied myself that the accoLJnts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts Garried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{51{b} of the Charities Act 2011 {'the 2011 Act,). Independent Examiner's Statement Since the Company's gross income exceeded £250,000 your examiner must be a memberofa body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination beGause l am a member of the Institute of Chartered Accounts in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act., or 2. The accounls do not accord with those records. or 3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the aGcounls give a 'true and fair view, which is not a matter considered as part of an independent examination; or 4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities 28 1LMONEY CkLWLk4

The Money Charity Annual Report For the year ended 31 December 2022 I have no concems 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 accounts to be reached. Signed: Name.. Joanna Pittman Relevant Professional Qualification or Membership of Professional Bodies (if any): Fellow of the Institute of Chartered Accountants in England and Wales Address.. Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London EC1Y OTL Date.. 26 May 2023 SAYER VINCENT 29 I•MONEY

The Money Charity Annual Report For the year ended 31 December 2022 The Money Charity ststement of finznclal aCti￿tieS lincorForating an inwme and eXpe￿IlUre a¢¢ounti Forthe ear ended 31 December 2022 2022 Total unrestrict￿ Reslricled )21 Tot UtYestrtLtted Restrlcted Ncle Income from: Donalion5 and leg￿105 Charflable acuvll￿5 C￿e activilles Other ino)me Inve$lment$ 29,808 29,808 29,458 29A58 304,891 386,163 691.054 163,09) 9,151 193,728 356,818 9,151 184 445 Total In¢ome 335,144 3B6,163 721,307 201,863 193,728 395,591 Expenditure on: Rasing funds Chafitable acJ¥ftles Core acltvlUes 3a 45.523 45,523 52.628 52,626 258,961 219,355 478,315 149.199 234.608 383.807 Total expenditure 304.483 219,355 523.838 201.825 234.608 436,433 Net Incomel lexpendlturel foi the year 30.681 188.808 197,470 140,8801 140.8421 Recontiliotion of fund$'. Total bjnds broughtfcqward 118,937 126.012 244,949 118,8g9 188,892 285,791 Total funds caffled fornard 149,598 292,820 442,418 118,937 128,012 244,949 All of the above result$ are defived from continuing aclniities. There We￿ no other recognSsed galns or losse$ olher than Ihose staled a￿Ve. Movemenls In fund5 are discbsed in Nele 12 to the financial statements. 30 1knMONEY CK(wY

The Money Charity Annual Report For th8 year ended 31 December 2022 Tho Monèy Charlty Balance $h•et Company no. 05244075 As at 31 Dec•mb•r 2022 2022 2021 Note Flxed assets.. Tangibltr assots 3,705 2.426 3,705 2.426 Current asse1$: Debtors Cash at bank and In haThJ 31,337 483,119 18,369 264,304 614,456 282.673 Llabllltle$: Cr•dltors.' amounts falling due wlihin tsno year 10 75,742 40,151 N•t curr•nt ass•ts 438,713 242,523 Total n•t a$$ets 11a 442.418 244.949 The funds of tho charlty: Restrlcted In¢om& funds Unreslrlcted Income funds= General funds 121 292,820 126,012 149.598 118,937 Total unr8stflcted funds 149,598 118.937 Total charlty funds 442,418 244.949 Thè oplnlon of the dSreclors Ss that the company 1$ èntllled to the exemptlons conferred by Sectlon 477 of tha Companles Act 2006 rèl8Ung to small companlos. The directors acknowledgè Ihe foll0h￿n9 responslbilbties.. 111 The rnembers have not requlred the company to obtaln an aud5t of Its accounts for Ihe year In quesllon In accordance wllh sectlon 476 lill Thtr dir8¢tors ackno￿edge thtrlr responslbilities for complylng wlth the r•quSrements ol the Act wllh re$p¢¢t lo accountlng re¢ord$ and the preparation tsf a¢¢ounls proved bythe trustees on19Aprfl 2023 and $igned ¢ntheirtehaNby Ju51in Basini Trustee 31 -t• MON EY CKLwik4

The Money Charity Annual Report For the year ended 31 December 2022 The Montry Charlty Statement of co$h tIow8 For the ear ended 31 December 2022 Note 2022 2021 Cash flow8 from operallng actlvltles Nèl Income I lexpendilLJr61 lor th8 reporting period las per the slaleTnenl ol linanc4al aclivlllesl Depre¢lalion charges Dividends. inleresl and rent from investments Ilncreasel in doblo¥s Increasg in creditors 197,470 140,8421 1.739 14451 112,9681 35.594 1,600 11641 112,1481 2,844 Net eash provlded by oper8tlng actlvltle$ 221.389 146,7101 Cash flows Irom Investlng acllvltle$: Divldends, interest and renls from inv&slmenls Purchase ol fixed assets Transfer ol cash lo d8posII accounts 445 13,0191 164 Net ¢ash provlded by Invesllng a￿1vIlle$ {2,574) 164 Change In cash 4nd cash equlvalents In th& year 218,815 148.5461 Cash and cash equSvalgnls al the beginnlng ol th8 264,304 312,849 Cash and cash equlvalents at tha end of the year 483.119 264,304 32 1knMONEY Cknik4

The Money Charity Annual Report For the year ended 31 December 2022 The Monèy Charlty Notes lo the flnan¢lal stal•m•nts Forth8 ear ended 31 Dècémbor 2022 1 Accountlnu pollclès al statutory Informatlon The Money Charily is a eheritablo company Ilmlled by guorantee and Is IncorpoTaled In Ewland and Wales. The registered offtce address 1$ 15 Prescott Place. London. SW4 6BS. bl Basls of preparatlon The financial slaloments have been prepared in accordance with Accounllng and Reporting bycharitqes.. Statement of Recommended Pradice 8ppllcÈble lo charities preparing their 8ccounts in accordance with th Financlal Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021- (Charilles SORP FRS 102}, The Fin&nclal Reportlng Standard applicable In the UK and Republlc of Ireland IFRS 1021 and the Companies Act 2006. Assets and liabilitles are Inltklly recognlsexl al historical c051 or Iransactbn value unless Othe￿￿e slal¢d In the relevant accounting pollty or note. In applying Ihe16nan¢lo1 reporfng framework. the trustees hav$ made 8 numbeT of subjectNe ludgemenis, for example in respect of sSgnificant a(xounting estimates. Estimates and Judgements are conlinuallyovalualed and are besed on hislorfcal experlen¢& and other faciors includlng expo¢talicffis of future events that are belloved lo b¢ reasonable under the circumstances. Thè nalurts or the estimation means the actual oulthmes could differ from those estlmates. Any signfficanl eslimales and IL￿geMentS affecting these finan¢lal sialements are detailed within the relevant aceounllng poliues below. cl Publlc banéflt èntlty The charlty meels the deftnltlon of a publlc ben¢ffl enllty under FRS 102. dl Golng eonc&m The trustees conslderlhat there are no materfal Un￿rtaInlIeS about the charty's ablllty lo ¢orfnue as 8 going Concern. Tho tW51ees do not conslder that there are any sources of esllm&tlon uneertainly al the reporting dale that have a slgnrficanl risk ol cluslnu a malerf&l odjuslmenl to Iho Carr￿n￿ amounts of assets end lialili1105 wtthln the next reporting period. 01 Incorng Income Is recognised when the charity has entitlement to the funds. any performance conditions attaCtr￿d lo the Ir￿me have been met, It Is probable that the income wll be lette￿ed and that the amount can be measured reliably. Ineome Irom govemrnenl and other gronts. whelher'capltsl. grants or'revenue, oronts. Is recognls8d ￿On the charfty has enllllemenl lo the funds, any performance conditions attached to the grants have been met, It Is proboble that the Income wll be recelved and the amount can be measured rellably and Ss not defwred. Income re¢￿1Ve￿ In odvance ol the provlsbn ol a spe¢ified ser￿ce Is deferred unll the crfleria for Income recognlllon aro mel. On receipt, donated grfts. professional Se￿CeS and donated faalilies are rocogn15ed on the basls of the value of the glft to the charfly which is the amount the d)arrty would have been willlng to pay to obtsln seN1￿5 or facilities of equlvalenl economic benefit on the open market. a corresponding amount Is then re￿lln1$ed In expéndlture In the pwlod ot recelpt. 33 1LMONEY CknKLAu

The Money Charity Annual Report For the year ended 31 De￿mber 2022 The Money Charlty Notos to tho flnanclal 51atoments For the ear ondod 31 D8cèmb8r2022 1 Accountlng pollcl85 {contlnuadl fj Int•r85t r8C8lvable Interest on funds held on deposlt Is Included when re¢elvable and the emount can be measured relEably by the eharfly., thSs15 nornia1￿ upon notification ol Ihe Interest pald or payable by the bank. gl Fund accountlng Restrlcted funds are to be used for spocific purposes as lald down by the donor. Expendtture vhlth meets th938 criteria is charged to the fund. Unresldeted funds are donations and other incoming resources recelved or gener•ted for Ole charftable purposes. De￿gnated fund5 are unreslri¢lod funds earmarked by the twstees for psrtlcuL4r puip05es. h) Expendlturg and Irrecoverable VAT Expendlture Is recognlsed once ther¢ Is a legal or conslructlve oblkjallon to make a poyment to 8 thlrd party,1115 probable that 5ettloment ￿11 be requlred and tr)e amount of Ihe obligalbn can bo measured rdlably. Expendliure Is da5sified under the following aclimly headings.. Cost5 01 raIgr￿ funds relate to the costs Incurred by the charfty In InduLyng third partl¢s lo make voluntary contributions to tt, &5 well a5 Ihe cost of 8ny activities with a lundraisvYJ purpose ExFendllur¢ on charitable activllles Includes the costs of dellvering ser￿leeS and other educauonal aclwll8s undertaken to further the purposes of th¢ charity and their associated gJPPDrt costs Olher expenditure represents those Items not falling into any other heading Irrets)verable VAT ts charged a5 8 cfj51 against the activity for thleh the expendtture Incurred. 11 Allocatlon of 5UPPOrt costs Resour￿5 expended are 8IIcK8ted to the particular aCtl￿tY where the c05t ielates directly to that activity. However, the cost of overall dlrectlon and adrnlnblralion ol each aCt￿ltY, comprlslng the salary and overhewj osls of the central functlon, Is apportioned on the foll￿ng basls whlch are an eslimale, based on steff Ilme, of the arnounl attribulalAe lo each actwity. Charftable wr¢ ac11vil￿$ Ralsing funds Support costs BO.7% 5.3% 14.0% Governance costs are the costs assodated ￿th the governance arrangements of the charity. These costs ara assodaled h￿th conslilutlonal ond statutory requli¢ments and include any costs associated ￿1h the stroteglc management ol Ihe charitys actlwtles. Jl Operallno Igases Rental charges are charged on a slralght Ilne basls over the term ol the lease. kl Tanglbll tIx8d assets Item5 of equipment are ¢8pitalised where th8 purch8se prfce exceeds £500. Depreclatbn costs aro allocated to aclivili8s on the basis of the use of Ihe related a55els in those 8clivilies. Ass81s ar8 reviewed for Impalmenl clrcumslan¢es indicate thelr Carr￿ng value may ex￿ed thelr net realisable valu¢ and value In use. Major components are treated a5 a separate a5s¢I where they have slgnificanlly dSflerent patterns of con5umpllon of economic benefits and are depreclated separately over its useful life. 34 -fLMONEY

The Money Charity Annual Report For the year ended 31 December 2022 Th8 Money Charlty Not&s lo th8 flnan¢lal statemonts Forth èar ondtsd 31 Dècembor 2022 1 Accountlng pollcl•s Icontlnuedl kl Tanglble flxed assets (Contlnued) Deprectallon is provkyed 81 rates calculated lo wrne down the cost of each asset to Its estlmated resklual vafuo over ils expected useful lrfe. The depreaallon rates In use ore as follows.. Computer equlpmenl and 50fknie 25% Slraighl Ilne Fumlturts. fixtures and ffttings 25% Redudng balance 11 Dgbtors Trade and other debtors are recogn¢sed otthe setuemenl amount due after Any Irada dlscount ¢)ffered. Prepayment5 are valued at the @mount prepald nel of anytrade discounts due. m) Short t&mi deposlls 81))rt term deposlts iicludes cash balanees that are invested in accounts wrth a maturity date of btstween 3 and 12 months. n) Cash at bank and In hand Cash at bank and ¢8sh In hand Includes cash and short temi hlghly liquld Investments ￿th 8 short maturfty of three months or less from the date of 4￿Ul$1t10n or opening of the deposll or simllar account. ol Credltors and provlslons Creditors and prov151on5 are recognised where tho Charlty has 8 Present oblvJallon rtssultlng from a past event Ihal ￿11 probably result in the Iransler of funds to a third party and the amount due to settle the obligallon Can be measured or estimated Teliably. Credllors 8nd provision5 are nomidly recognised al Ihelr settlement amount after allowing for anytrade discounts due. pl Flnanclal Instruments The charity only hss finandal assets and flnan¢lal Ilabllllles of a klnd Ihal quallfy as bosic finandal inslrumtrnls. Baslc finandal instruments are Snlllally recognlsed al Iran58¢tion vdue and subsequently measured al thelr settlement value with th• exception of bank loans whlch ar& Subsequent￿ measured al 8morllsed cost usng the effedive Interest method. ql Panslons The charitable company operates a deffined conlritrAlion penslon scheme. Conlrlbulion5 payable to the charitable companys penslon scheme are charged lo the Statement of Finan¢Eal Actlvftles in the period lo whlth they relate. 2 Income from charltablg actlvltles 2022 Total Unreslricled Restricted 2021 Tclal Unreslficled Restrkled Grants Consultancy Money manuel Tr8ining 62,333 62,383 597 179.578 386,163 448A97 62.383 597 179,578 52,250 54.557 583 55.700 193,728 245.978 54,557 583 55,700 304,891 386,163 691,054 163,090 193.728 356.818 35 1•MONEY CknL*J

The Money Charity Annual Report For the year ended 31 December 2022 The Money Charity Notes to the Ilnanclal Statements For the ar ended 31 D8c•mber 2022 3• An*lys15 of expenditure Icurrent yearl RaI￿n9 Charftable Qoveman funds core acllvlle$ ¢vsts Support Q51$ 2022Total 2021 Tolal Staff costs (Nots Sl Other staff costs Restricled direct C￿15 Unreslricled dprecl ¢0515 Other charllable 8clvlNe$ In5ur4nce Telephone and internel Off￿e cests Compulerrnalnten3n¢e and printing Rent HR Support fee$ Audit and IE fees Depreciation MIscel￿neWS 15,184 232.645 40.491 2.556 288.221 2.556 fOO,067 88,750 1,354 1,174 5,878 3.372 4,667 20,IJ04 1,395 4,230 1,739 435 232,594 2,023 110,371 50.801 1,845 1.091 S.S34 954 4,320 20.004 1,240 4,045 1,600 13 100.oe7 82,487 1.354 25.297 986 1,174 5,878 3,372 4,867 20,004 1,395 4.230 1.739 435 40,482 396.452 4,664 82,240 523.838 436,433 Supporf costs 5,041 77,199 (82,2401 Govemance 4.664 14,6641 Total expenditure 2022 45,523 478,515 523,838 Tolaf expendllure2021 52,626 383,807 436,433 36 fiLMONEY

The Money Charity Annual Report For the year ended 31 December 2022 Th¥ Mon&y Charity Not08 lo the finanel•l 8tatèm•nt8 For th& ear endèd 31 D8eombgr 2022 3b Analysis of expendlturg Iprlor year) Ralslng Charilabls Govemance funds core actlvllies costs Suppjrt costs 2021 Total staff costs (Note 51 Other staff costs Restrlcled direct costs Unrestricted dlreel costs Other charftable acti￿lIeS Insuran Telephone and Inlemet Office eosls Computer malnlenanc8 and prfntlng Rent HR Supwjrt fees Audll and IE fees Depreciation Mlscellaneous 19,587 177,751 35.256 2,023 232,594 2,023 110.371 50,801 1.845 1,091 5,534 954 4,320 20,004 1,240 4,045 1,600 13 110,371 24,468 1.845 25.842 491 1,091 5,534 954 4.320 20,004 1,240 1,600 13 45,429 314,434 4,058 72.512 436,433 Support eosts 7.197 65,315 (72,5121 Govèmane8 costs 4,058 14.0581 Total axpènditure 2021 52,626 383,807 436,433 37 1th.MONEY Ckn(IAu

The Money Charity Annual Report For the year ended 31 December 2022 The Money Charity Notes to tha financiol siattrments For tho ye•T gnded 31 Dec•mber 2022 Net &xpondlture for the ytsar Thi5 18 stated after charglng I Icredltingl.. 2022 2021 Depreciation Operallng lease rentals Payab￿.. Property Equlpment Independent Examinerfs remuneratlon ltsxcludlng VATI Independent Examlnallon fees 1,739 1,600 20,004 1,594 20.004 1.594 4,000 3,675 Analysls ol staff costs, trustse r&muneraiion and exponses, Dnd tho cost of k•y managemeni ptrrsonnol Staff e05t5 wore as fdlows.. 2022 2021 Salarfes and wages SooLal security costs Employer's contribution to deflngd ￿ntr1￿jt10n p8n8ion $cheme8 Other foim5 of ernployee benefits 240,243 23,793 22,903 1,282 193.308 18.313 19,760 1.213 288,221 232,594 No employee recelved emssoyee benefits exoeeding £60.000 during the year. The key management personnel of the charity In 2022 comprlsed the Chief Executive Officer. The total employee benefits (including pension contributions and employerfs national insurance) ol the key managernenl petsonnel were £57,51912021.' £50,778). The charity tru5tee5 were nalher paid nor received any other benefits from employment with the charity in the year12021.. £nill. No charity trustee recelved payment for professional or other servlce5 5upplled to the ch8rily 12021.. £nlll. No expen58s were reimbursed to ¢harSty trustees durlng the year12021.' £nill. Staff numbors The average nwiber of employees (head count based on number of slaff empltsyedl during the year was 9 12021.. 81. 38 1fo.MONEY

The Money Charity Annual Report For the year ended 31 December 2022 Th• Monay Chority Nots% to th• 1Sn#n¢lal stat•m&nts Fortho ear ended 31 Decombtrr 2022 Rélat￿ party transactlons Aggr8ga18 donation8 frcrn relate(S partle$ were £42.34312021.. £28.8631. Justln Baslnl 1$ the Chlel Executlve Officer & Co-Founder of CIEaTScore and nlrector at Money Doshboard. Tho charfty recelved one grant of £29,8218nd one donatSon of £10,OOD from Clearscore In 2022, totalling £39,821 12021.. £28.3631. The charfty ako recelved one donatSon ¢f £2,S22 from Money Dashl)oard In 202212021.. £nlll. steve Butler 1$ Chlef Execullve Officer at Punter Southall Asplre IPSAI, and the charfty recelyed one graTht of £12,400 from PSA In 2019. The grant has been used throughout 2022 to dellver a volunteer programrne. A close family member to Steve Butl•r1s cuir¢ntly employed by the Charity. for which perm15SW)n from Ihè Charity Commisslon was r•celved. Tnglbl•flxod a￿•¢$ FLrntture. C¢mpuier fixtures and equlpmenl ritllngs and sofiware Total Cosi At Ihtr start ol Ihe year Addllions In year At Ihe enl ol the year 4,967 1Q704 3,019 21,723 23.672 3.019 26,690 4,967 Dopreclatlo At the start of the year Chargefor Ihe year 4.917 13 18,329 1,726 21.246 1,739 At the end ol the ￿ar Not book value At th• and of th• yaar 4.W29 18.058 22,985 38 3.867 3,705 At the Start gf the ye4r 51 2,375 2.426 All of the above 8S8ets are us•d for charita￿e PU￿0¥¢￿ D•btor$ 2022 2021 Trade debtors Other debtor& 31.115 222 17,340 1,029 31,337 18,369 39 -fUMONEY CknrLAJ

The Money Charity Annual Report For the year ended 31 December 2022 Th• Monèy Charlty Not8s to thè flnanelal stat•monts For the ear ended 31 December 2022 10 Credltors: amounts falllng due withln ono yoar 2022 2021 Trade ¢reditor5 Accruals Oeferred Income 39.566 17,607 18,570 16,552 13,939 9,880 75.742 40,151 11a Anatysis of net •ssots b8M&8n funds Icurroni yearl General unreslri¢led Re51ricled Total funds Tanglble fixEd a55ets Net current as5els 3.705 145.893 3.Y05 438.713 292,820 Net a6S8ts oi 31 Doc8mbor 2022 149,598 292,820 442,418 11b Analysls of n8t assots botwoon funds IpTlor y•arl General unrestricted Restricted Total funds Tanglble flxed assets Net current assets 2,428 116,511 2,426 242.523 126.012 Net a550ts at 310ecembor2021 118,937 126.012 244.949 120 Movements In funds Icurront y8arl At1 January 2022 At31 December 2022 Income & Expèndnure galns & losses Transfers R•strletéd funds: Flnaneial Educalion with Young People Flnancial Wellbeing Training with Adulls 78,888 47,116 312,831 73.333 1161,1531 158,2021 230.573 62.247 Total restricted funds 126,012 386,183 1219,3SSI 292,820 Unr8Strlct•d funds: General funds 118,937 335,144 1304,4831 149,598 Total unrestrlctod funds 118,937 335,144 1304,4831 149.598 Total funds 244,949 721,307 1523.8381 442,418 The narralwe lo explain the purp)se of each fund 18 gwen at the foot of thè note bèlow. 40 1fo.MONEY

The Money Charity Annual Report For the year ended 31 December 2022 The Money Charlty Notes to Ihe flnanclal ￿atements For th ar onded 31 December 2022 12b Movements In funds Iprlor ye•rl At31 D•¢emb 2020 At31 De¢omber 2021 Income & Expenditure galns & los$e$ Transler5 Rostrlcted fund5'. Financlal Educatlon with Young People Flnan¢lal Wellbeing Tralning with Adults 95,445 71,447 165,541 28,187 1182,090 152.5181 78,896 47,Iq6 Total rostrlctad funds 166,892 193,728 1234.6081 126,012 Unrostrictod fund$: General funds 118.899 201,863 1201,8251 118.937 Total unrestrlct•d fund$ 118.899 201,863 {201,8251 118.937 Total funds 285,791 395,591 1436,4331 244,949 Purp05vs of rostrleted fund8: Flnanclal Educatlon wlth Young Peopl• In Education ond tho Cornmunlty To provide f¥ee direct de15verytralnlng and resources for young people, prlmarfly In schools and college5 In England, Wales and Northern Ireland Ihrough (￿r Money Workshops. Flnanclal Wellbelng Tralnlng wlth Adults in tho Communlty To provlde free dlre¢t delivery Iraining to adutt5 almed bolh dlreetly at Indivlduals who want to leam to manage mon8ywell, and the Intermèdlarle5, such as housing as5r￿la￿ons temmunlty oroup8 who help th8m. 13 Op8rBtlng cornmltments payablg 0$ a l•$se The ¢hariiy'$ total lulu￿ mlnlmum lease payments under non-cancellable operallng leases Is as folk)ws for eath of the foll￿￿ng wrltsd$ Equlpment 2022 2021 Less than onè yoar On? lo fNe years 1,594 797 1,594 2.390 2.390 3,984 14 Legal status of tho charlty The Chatlly 1$ a company limlled by guarantèe and has no share capllal. The IIBbllty d oa¢h member In the event of wlndlng up 1$ Ilmlted lo £1. 41 MONEY CKLWY

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