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.
T*nglbl•flxod a￿•¢$
FL*rntture.
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

Thanks
For
Reading
To support our work in 2023 as
we help the UK increase its
Financial Wellbeing, or just to find
out more, head to our website".
https:Ilthemoneycharity.org.uk
or email
hello@themoneycharity.org.uk