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2022-12-31-accounts

Charity registration number 1107613

Company registration number 04926476 (England and Wales)

EQUALITY NOW

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

EQUALITY NOW

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ms D Feeney (Appointed 28 April 2023)
Mr D G Kelly Jr
Ms C El Meouchi (Appointed 2 April 2022)
Ms P Amira
Ms S Sinha (Appointed 10 January
2023)
Ms Y Waljee (Appointed 28 April 2023)
Secretary Ms S Sinha (Appointed 10 January
2023)
Charity number 1107613
Company number 04926476
Registered office C/O Azets Burnham Yard
London End
Beaconsfield
Bucks
HP9 2JH
Auditor Azets Audit Services
Suites B & D
Burnham Yard
Beaconsfield
Bucks
United Kingdom
HP9 2JH

EQUALITY NOW

CONTENTS

Page
Trustees' report 1 - 4
Statement of trustees' responsibilities 5
Independent auditor's report 6 - 8
Statement of financial activities 9
Balance sheet 10
Statement of cash flows 11
Notes to the financial statements 12 - 23

EQUALITY NOW

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, present their annual report and financial statements for the year ended 31 December 2022.

The charitable company was incorporated on 9 October 2003 with the liability of its members limited by guarantee. The charitable company is governed by its Memorandum and Articles of Association dated the 7 March 2019 (updated from the original version from the 24 September 2003).

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

Equality Now works to end violence and discrimination against women through the mobilisation of public pressure. Issues of concern to Equality Now include:

The trustees of the charitable have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

Introduction to Equality Now

Equality Now was incorporated in England and Wales on the 9 October 2003 and obtained charity status on the 13 January 2005. The Board of Trustees comprises of 5 women and men leaders from around the world, including from Lebanon, Kenya, the United Kingdom and the United States of America.

Our mandate is to promote the human rights of women and girls. We aim to do this by researching violations of the human rights of girls and women, publicising and distributing the outcome of our research and larger analyses and building a worldwide network of supporters who want to advocate for women’s rights. Providing information and a channel for advocacy are the first steps to achieving change.

Since we consider access to information critical in the promotion of rights, Equality Now's materials are free and also available to the general public via our website: www.equalitynow.org. We also join with other women’s and human rights groups in advocacy which seeks to foster a climate of respect for women’s rights.

Our four main programme areas are focused on: legal equality, ending sexual violence, ending harmful practices such as female genital mutilation and child “marriage” and ending sexual exploitation. We add an international layer of support to work being carried out by grassroots organisations and our goals are led by local needs and priorities. We work where we believe we can have the most impact to help improve the lives of a significant number of girls and women and in areas where we feel our campaigns can make the most difference.

Equality Now is also registered with the United Nations and takes advantage of critical opportunities, such as meetings of various human rights committees and the annual Commission on the Status of Women, to bring issues of concern into the international arena and to link up with other groups working on similar concerns. Equality Now also has sister offices in Lebanon, Kenya and the United States of America.

Strategic report

The description under the headings "Achievements and performance" and "Financial review" meet the company law requirements for the trustees to present a strategic report.

EQUALITY NOW

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

Some highlights from 2022 include:

Equality Now partnered with Women Leading in AI (Artificial Intelligence) to build an Alliance for Universal Digital Rights (AUDRi) to explore ways of creating a digital future in which everyone can enjoy equal rights to safety, freedom and dignity – whoever they are and wherever, whenever and however they exist and connect in the digital world. Together, we are calling for the adoption of a universal digital rights framework, rooted in human rights law and underpinned by an intersectional feminist, anti-discrimination analysis. We have made several presentations of our work and continue to network with a broad range of interested parties, including in December 2022 at the Internet Governance Forum in Ethiopia, to find and promote solutions together.

Equality Now continued its work in Central Asia on sexual violence. Building on our previous work in Uzbekistan, we started work under a European Commission grant, Strengthening the role of civil society and building sustainable cooperation in promoting gender equality in Uzbekistan, to exchange knowledge and experience of international human rights mechanisms and strengthen networks with civil society there. Together, we conducted training sessions using a rights-based methodology that increases understanding of power dynamics and strengthens civil society to establish effective networks and cooperation.

In Kyrgyzstan, we have partnered with civil society to understand more about the challenges faced by women and girls with disabilities, survivors of sexual violence and to promote justice for all in compliance with international human rights law.

Supported by Comic Relief, Equality Now continued its work with partners and a broad range of stakeholders in Sierra Leone to coordinate their interventions and improve protection and access to justice for adolescent girls’ survivors of sexual violence.

In April 2021, Equality Now published Sexual Violence in South Asia: Legal and Other Barriers to Justice for Survivors, jointly authored with Dignity Alliance International, examining laws addressing sexual violence in South Asia which found that rape laws across the six South Asian countries studied effectively deny justice to survivors of sexual violence due to protection gaps in the laws and practice. COVID prevented the scheduled regional meeting that year, but Dignity Alliance International and Equality Now organised in October 2022 a convening of those who had contributed to the report and others to assess the current status of laws and practice and to establish interest in further collaboration on this issue. Participants expressed a strong wish to form a network for the exchange of information and potential joint advocacy. This work will be taken forward in 2023. In addition, we are continuing to work with partners across the region, particularly in the Maldives and Nepal, to call on governments to take urgent action to address sexual violence and improve access to justice for survivors, including those from marginalised communities.

Equality Now continued to partner with civil society around the world to make submissions to treaty bodies and UN mechanisms to promote adherence to international human rights on our four programme areas and offered expert support to those looking to use the law to create an environment of support for women’s rights. Staff gave several media interviews throughout the year and made several presentations to institutions and the public, including being invited by Finnish civil society to give the keynote address in the Helvi Sipilä Seminar in March and the Bulgarian Women’s Human Rights Training Institute to support building the capacity of young lawyers from Central and Eastern European and the Newly Independent States on women’s rights in May.

Financial review

During the year, income of £2,295,290 was received, including £76,777 worth of donated services. This income was applied to the objects of the charity.

The net movement in unrestricted funds for the year, as shown in the Statement of Financial Activities, amounted to net incoming resources of £333,344 which has increased the unrestricted funds to £845,639.

Restricted funds stand at £235,081 at the year ended 31 December 2022.

The charitable company's net assets at the 31 December 2022 were £1,080,720.

EQUALITY NOW

TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Reserves policy

The charity aims to hold reserves equivalent to 6 months expenditure. During the coming year, efforts will continue to be directed towards increasing the level of reserves.

Equality Now uses agreed international and regional human rights standards as well as countries’ own legal provisions as benchmarks for its international advocacy. Extreme care is taken to verify the accuracy of everything we print, which is checked in broad consultation both internally and with outside experts.

The trustees of the charitable company have identified and reviewed the major risks facing the charity and have established internal controls to mitigate these risks. The trustees confirm that the controls implemented are appropriate to the size of the charity and the nature of its operations.

We reviewed and updated all our internal processes, procedures, data systems and documentation in order to comply with the UK GDPR when it came into force in 2021. Equality Now complies with the UK GDPR as a controller and processor of data and we work with our suppliers and partner organisations to ensure they can meet these obligations. We are implementing the relevant policies and practices to ensure we protect any data handled for employees, donors, supporters, suppliers and partners and are keeping informed to comply with future systems the UK might adopt.

All work saved to the computer network is backed up on the cloud.

Plans for future periods

Equality Now’s long-term aim is to create an environment where women’s rights are respected and upheld. To achieve this, we will continue with targeted campaigns to promote the human rights of women and girls and will aim to expand our work with grassroots organisations.

Our focus for 2023 will be particularly to build on the promotion of universal standards on digital rights so that everyone can enjoy equal rights to safety, freedom and dignity. We will look to build stronger partnerships and networks in the areas of our work, as highlighted, and will aim to broaden our global reach, specifically developing further our partnerships with civil society, lawyers and others for joint collaborations and a more informed intersectional approach. We will undertake development of a number of new protocols aimed at prevention of sexual violence and enhanced access to justice, with a particular focus on marginalised communities, including women and girls with disabilities and girls and adolescents generally.

Structure, governance and management

The charitable company was incorporated on 9 October 2003 with the liability of its members limited by guarantee. The charitable company is governed by its Memorandum and Articles of Association dated the 7 March 2019 (updated from the original version from the 24 September 2003).

The trustees unanimously approved by resolution changes to the charitable company's Articles of Association which simplified and clarified provisions regarding meetings and the scope of delegation of authority to the Executive Officer.

Trustees

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Ms D Feeney (Appointed 28 April 2023) Mr D G Kelly Jr Ms C El Meouchi (Appointed 2 April 2022) Ms Y Hassan (Resigned 10 January 2023) Ms W Lichuma (Resigned 2 April 2022) Ms P Amira Ms R Brandenburger (Resigned 28 April 2023) Ms S Sinha (Appointed 10 January 2023) Ms Y Waljee (Appointed 28 April 2023)

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EQUALITY NOW

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2022

The trustees, who are also the directors of Equality Now for the purpose of company law, are responsible for preparing the Trustees' 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 year.

In preparing these financial statements, the trustees are required to:

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.

EQUALITY NOW

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF EQUALITY NOW

Opinion

We have audited the financial statements of Equality Now (the ‘charitable company’) for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

EQUALITY NOW

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EQUALITY NOW

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed

procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

EQUALITY NOW

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF EQUALITY NOW

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Nisbet BA(Hons) FCA (Senior Statutory Auditor) for and on behalf of Azets Audit Services

5 July 2023

Chartered Accountants Statutory Auditor

Suites B & D Burnham Yard Beaconsfield Bucks United Kingdom HP9 2JH

Azets Audit Services is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

EQUALITY NOW

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
1,385,127
909,557
Investments
4
157
-
Other income
5
449
-
Total income
1,385,733
909,557
Expenditure on:
Charitable activities
6
1,052,389
756,783
Other
11
-
-
Total expenditure
1,052,389
756,783
Net incoming resources
before transfers
333,344
152,774
Gross transfers between
funds
13,248
(13,248)
Net income for the year/
Net movement in funds
346,592
139,526
Fund balances at 1 January
2022
499,047
95,555
Fund balances at 31
December 2022
845,639
235,081		 Total Unrestricted
Restricted
funds
funds
2022
2021
2021
£
£
£
2,294,684
832,867
644,381
157
21
-
449
117
859
2,295,290
833,005
645,240
1,809,172
704,855
553,791
-
4,245
-
1,809,172
709,100
553,791
486,118
123,905
91,449
-
-
-
486,118
123,905
91,449
594,602
375,142
4,106
1,080,720
499,047
95,555		 Total
2021
£
1,477,248
21
976
1,478,245
1,258,646
4,245
1,262,891
215,354
-
215,354
379,248
594,602

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

EQUALITY NOW BALANCE SHEET AS AT31 DECEMBER 2022 2021 CurrÈntassets Debtors Ch atb￿k in h￿d 12 212.133 947,420 133.243 604.738 Credltols: amoiith lallkng due fi• one y•T 1.159.553 737.981 13 178,833) 1130,0901 Net￿rrent assèts 1.080.720 607,891 Cfedltws: Iimoiiiits tsIIIDq du• afknr MO￿ than one year 14 113,2891 Net •ss•ts 1,080.720 594.802 Income fvnds Resthcted fvnds Unrestrthd funds 235.081 845.639 95,555 499.047 1,080,720 594.602 The company is entill•d to the ex¢rrotiw from Ihe ro¢¥irement cOnt￿•d in Sdion 477 of the Corrparfte5Acl 20Cfj, for the year end•d 31 Oecerthr 2022. 4llhtyJth ￿ •Jdit h&$ b¢•n cwried out ￿der s•LM 144 of the Choribes Act2011. The (I'rector th￿￿tr￿je5 respons*￿￿0.es for wth the rewwements ofthe Comwi0s Act 21K)6 wth Th& membe15 have not raoJw•d the to obta"n ￿ •Jthl of ts fir￿CId statemthts under th• r•wlrom of the Comp•ti¢sAct 2(XJ6. ftythe yew in ¢woon w71h 476. to thè sm811 COMP￿leS r•ki June 25, 2023 rhe st•tem8nts wern appmwed bythe TN4ees (￿........ .... ... . . .. Mr D G Kelly Jr 10-

EQUALITY NOW

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Cash flows from operating activities
Cash generated from operations
19
Investing activities
Investment income received
Net cash generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
157		 £
342,525
157
-
342,682
604,738
947,420		 2021
£
21		 £
224,901
21
-
224,922
379,816
604,738

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

Charity information

Equality Now is a private company limited by guarantee incorporated in England and Wales. The registered office is C/O Azets Burnham Yard, London End, Beaconsfield, Bucks, HP9 2JH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charitable company's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company.

1.4 Incoming resources

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Grant income, other than capital grants, is recognised in the Statement of Financial Activities as soon as it is receivable unless there are requirements of the funder related to performance and specific deliverables. These grants are accounted for as the charity earns the right to consideration by its performance, adjusted to reflect the time value of money. Where the income is received in advance of its recognition, it is deferred and included in creditors. Where entitlement occurs before the income is received, the income is accrued and included in debtors.

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Donated services are credited to the Statement of Financial Activities based on the time spent volunteering for the charity and the fair market value of the services.

1.5 Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Resources expended and the corresponding liability are recognised in period in which they are incurred. Management and administration costs include expenditure on general administration, management and compliance with constitutional and statutory requirements.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The charitable company's capitalisation policy is to only captialise tangible fixed assets that cost more than £2,000.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements 5 years or remainder of lease if shorter Computers 2% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net income/(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charitable company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in or in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting policies

(Continued)

1.9 Employee benefits

The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised a spart of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

1.12 Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in net income/expenditure for the period.

1.13 Taxation

The charity is exempt from corporation tax on its charitable activities.

2 Critical accounting estimates and judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
28,241
-
Grants received
1,280,109
909,557
Donated goods and
services
76,777
-
1,385,127
909,557
Donations and gifts
Donations
24,535
-
Gift aid
3,706
-
28,241
-
Grants receivable for
core activities
Equality Now Americas
1,278,501
479,105
Equality Now Africa
-
9,482
Other grants
1,608
420,970
1,280,109
909,557		 Total
Unrestricted
funds
2022
2021
£
£
28,241
24,609
2,189,666
729,555
76,777
78,703
2,294,684
832,867
24,535
22,387
3,706
2,222
28,241
24,609
1,757,606
729,555
9,482
-
422,578
-
2,189,666
729,555		 Restricted
funds
2021
£
-
644,381
-
644,381
-
-
-
-
-
644,381
644,381		 Total
2021
£
24,609
1,373,936
78,703
1,477,248
22,387
2,222
24,609
729,555
-
644,381
1,373,936

4 Investments

Unrestricted Unrestricted
funds funds
2022 2021
£ £
Interest receivable 157 21
Other income
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2022 2022 2022 2021 2021 2021
£ £ £ £ £ £
Other income 449 - 449 117 859 976

5 Other income

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

5 Other income

(Continued)

6 Charitable activities

Staff costs
Insurance
Telephone
Postage and stationery
Travel and accommodation
Consultancy
Rent
Office equipment
Translation and interpretation
Bank charges
Legal expenses
Grant funding of activities (see note 7)
Share of support costs (see note 8)
Share of governance costs (see note 8)
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 December 2021
Unrestricted funds
Restricted funds		 2022
£
879,766
1,621
696
17,443
59,136
373,833
2,734
(842)
21,135
3,265
76,777
1,435,564
192,831
164,181
16,596
1,809,172
1,052,389
756,783
1,809,172
704,855
553,791
1,258,646		 2021
£
586,095
-
-
8,241
12,679
338,882
3,176
4,088
-
3,117
78,703
1,034,981
160,690
56,812
6,163
1,258,646
704,855
553,791
1,258,646

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

7 Grants payable

Grants to institutions:
Equality Now Africa
Women Against Violence and Exploitation in Society (WAVES)
Defence for Children International (DCI)
Uthema
Forum for Women, Law & Development
Ekta Parishad Trust
NIHOL		 2022
£
60,000
25,773
30,130
13,467
6,549
18,311
38,601
192,831		 2021
£
66,000
49,299
45,391
-
-
-
-
160,690

8 Support costs

Staff costs
Insurance
Telephone, postage and
stationery
Travel and accomodation
Consultancy
Rent
Office equipment
Credit card fees and
bank charges
Legal expenses
Audit fees
Accountancy
Legal and professional
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
141,072
-
931
-
11,454
-
5,108
-
2,779
-
627
-
-
-
550
-
1,660
-
-
14,970
-
1,500
-
126
164,181
16,596
164,181
16,596		 2022Support costs Governance
costs
£
£
£
141,072
38,639
-
931
1,178
-
11,454
1,839
-
5,108
950
-
2,779
2,895
-
627
11,638
-
-
(619)
-
550
68
-
1,660
224
-
14,970
-
5,200
1,500
-
963
126
-
-
180,777
56,812
6,163
180,777
56,812
6,163		 2021
£
38,639
1,178
1,839
950
2,895
11,638
(619)
68
224
5,200
963
-
62,975
62,975

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
13 9
Employment costs 2022 2021
£ £
Wages and salaries 886,192 549,790
Social security costs 88,548 52,154
Other pension costs 46,098 22,790
1,020,838 624,734
The number of employees whose annual remuneration was more than £60,000
is as follows:
2022 2021
Number Number
£60,001 - £70,000 2 -
£70,001 - £80,000 - 2
£100,001 - £110,000 2 1
£120,001 - £130,000 1 -
11 Other
Unrestricted Unrestricted
funds funds
2022 2021
£ £
Net loss on disposal of tangible fixed assets - 4,245
12 Debtors
2022 2021
Amounts falling due within one year: £ £
Other debtors 208,314 133,243
Prepayments and accrued income 3,819 -
212,133 133,243

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

13
Creditors: amounts falling due within one year
Notes
Deferred income
15
Trade creditors
Other creditors
Accruals
14
Creditors: amounts falling due after more than one year
Notes
Deferred income
15
15
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Non-current liabilities
Movements in the year:
Deferred income at 1 January 2022
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2022		 2022
2021
£
£
13,698
119,604
18,562
-
-
4,531
46,573
5,955
78,833
130,090
2022
2021
£
£
-
13,289
2022
2021
£
£
13,698
132,893
2022
2021
£
£
13,698
119,604
-
13,289
13,698
132,893
132,893
295,878
(119,604)
(162,985)
409
-
13,698
132,893

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

16 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds
Balance at
1 January 2021
Incoming
resources
Resources
expended
Balance at
1 January 2022
r
£
£
£
£
European Commission
-
-
-
-
Generation Foundation
-
-
-
-
Comic Relief
(2,283)
160,467
(165,116)
(6,932)
Council of Europe
1,525
2,934
(1,571)
2,888
Gates Foundation
3,892
17,912
(21,461)
343
Equality Now Americas
-
10,360
-
10,360
Novo Foundation
-
185,704
(178,503)
7,201
Oak
-
-
-
-
SIDA
-
3,058
(3,058)
-
Wellspring Philanthropic Fund
-
-
-
-
UN Women
610
31,771
(30,661)
1,720
Victoria Gomez
362
14,772
(6,099)
9,035
Wallace Global
-
16,202
(15,522)
680
Winifred Stevens Foundation
-
104,402
(84,231)
20,171
Gucci
-
70,575
(20,479)
50,096
POWF
-
4,926
(4,933)
(7)
UNFPA
-
22,157
(22,157)
-
4,106
645,240
(553,791)
95,555		 Movement in funds
Incoming
esources
Resources
expended
£
£
293,007
(73,845)
55,394
(55,394)
119,604
(116,021)
-
-
4,996
(5,339)
-
-
244,654
(251,855)
33,284
(33,284)
3,829
(3,829)
62
(62)
8,359
(10,010)
50,314
(59,349)
-
(334)
90,401
(113,728)
-
(28,756)
5,653
(4,977)
-
-
909,557
(756,783)		 Transfers
Balance at
31 December
2022
£
£
-
219,162
-
-
-
(3,349)
(2,888)
-
-
-
(10,360)
-
-
-
-
-
-
-
-
-
-
69
-
-
-
346
-
(3,156)
-
21,340
-
669
-
-
(13,248)
235,081

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

17 Analysis of net assets between funds

Unrestricted
fund
Restricted
fund
2022
2022
£
£
Fund balances at 31
December 2022 are
represented by:
Current assets/(liabilities)
845,639
235,081
Long term liabilities
-
-
845,639
235,081		 Total
Unrestricted
fund
2022
2021
£
£
1,080,720
495,975
-
3,072
1,080,720
499,047		 Restricted
fund
2021
£
111,916
(16,361)
95,555		 Total
2021
£
607,891
(13,289
594,602

18 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2022 2021
£ £
Aggregate compensation 388,621 328,042

Transactions with related parties

During the year the charitable company entered into the following transactions with related parties:

Equality Now (New York)
Equality Now (Nairobi)		 Grants received
2022
2021
£
£
1,757,605
1,120,350
9,482
27,082
1,767,087
1,147,432		 Grants made
2022
2021
£
£
-
-
60,000
66,000
60,000
66,000		 Grants made
2022
2021
£
£
-
-
60,000
66,000
60,000
66,000
66,000

EQUALITY NOW

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

19 Cash generated from operations 2022 2021
£ £
Surplus for the year 486,118 215,354
Adjustments for:
Investment income recognised in statement of financial activities (157) (21)
(Gain)/loss on disposal of tangible fixed assets - 4,245
Movements in working capital:
(Increase)/decrease in debtors (78,890) 164,316
Increase/(decrease) in creditors 54,649 (291,886)
(Decrease)/increase in deferred income (119,195) 132,893
Cash generated from operations 342,525 224,901

20 Analysis of changes in net funds

The charitable company had no debt during the year.