Charity registration number 1107613
Company registration number 04926476 (England and Wales)
EQUALITY NOW
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
EQUALITY NOW
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Ms D Feeney (Appointed 28 April 2023) Ms C El Meouchi Ms P Amira Ms S Sinha (Appointed 10 January 2023) Ms Y Waljee (Appointed 28 April 2023) Ms J M Middleton
(Appointed 10 January 2023) (Appointed 28 April 2023) (Appointed 15 March 2024)
Secretary Ms S Sinha 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 London End Beaconsfield Buckinghamshire United Kingdom HP9 2JH
(Appointed 10 January 2023)
EQUALITY NOW
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 5 |
| Statement of trustees' responsibilities | 6 |
| Independent auditor's report | 7 - 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 - 25 |
EQUALITY NOW
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023
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 2023.
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:
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Rape
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Domestic violence
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Reproductive rights
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Trafficking
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Female genital mutilation
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Political participation
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Sex discrimination
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 6 women 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.
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EQUALITY NOW
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
Achievements and performance
Some highlights from 2023 include:
Equality Now continued its focus in Central Asia on sexual violence. Building on our previous efforts in Uzbekistan, we continued 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. In addition, we released two new reports: Sexual Violence Laws in Eurasia: Towards a Consent-based Definition, followed by a webinar with partners and representatives from the five countries highlighted to learn how change can best be achieved; and Sexual Violence And Disability In Kyrgyzstan: Law, Policy, Practice And Access To Justice launched with partners in Bishkek and leading to discussions with the government for collaboration around improving criminal justice processes and practices with respect to women and girls with disabilities, survivors of sexual violence. Subsequently we also trained a number of lawyers and prosecutors on addressing sexual violence. We also convened groups in Georgia to promote collaboration on promoting a consent-based definition of rape there. The Eurasia Network to end sexual violence, which now counts around 100 organisational and individual members, held its first in-person meeting and concluded its objectives and workplan for the region.
Equality Now continued to partner 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 continue to network with a broad range of interested parties, released a paper on The Feminist Principles for Including Gender in the (UN’s) Global Digital Compact and commissioned further research on sexual violence in the metaverse in order to understand the issue better and develop recommendations on how to address it.
We continue to develop the South Asia partnership to end sexual violence. Members held webinars to exchange expertise and as a basis for future advocacy papers dealing with similar issues from the region.
Supported by Comic Relief, Equality Now completed this phase of 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.
Equality Now hosted many activities at the large Women Deliver conference in Kigali. We held a side event on our work on sexual violence around the globe, with a particular focus on the intersection with disabilities, and brought partners from Kyrgyzstan to learn from their work in this area; and collaborated on an event entitled: Human Vulnerability in the Metaverse: What is the impact of the metaverse on both the individual and society ? among others. In addition, we met many new existing and potential partners, expanded our contacts and knowledge and laid the groundwork for future collaborations.
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, was invited by the Council of Europe to an expert consultation meeting and supported a petition to the European Court of Human Rights on the issue of defamation and sexual violence.
Financial review
During the year, income of £2,085,153 was received, including £214,767 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 a total net outgoing resources of £296,534 with an decrease in the unrestricted funds of £201,424 to £644,215.
Restricted funds stand at £139,971 at the year ended 31 December 2023.
The charitable company's net assets at the 31 December 2023 were £784,186.
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EQUALITY NOW
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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.
Risk Management
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.
We continue to keep abreast of any changes to the law which affect the charity, including with respect to governance and employment law.
All work saved to the computer network is backed up on the cloud. We have recently reviewed our IT system and have ensured that appropriate safeguards are in place against unauthorised access.
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 2024 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.
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EQUALITY NOW
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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 (Resigned 15 February 2024) Ms C El Meouchi Ms Y Hassan (Resigned 10 January 2023) Ms P Amira Ms R Brandenburger (Resigned 28 April 2023) Ms S Sinha (Appointed 10 January 2023) Ms Y Waljee (Appointed 28 April 2023) Ms J M Middleton (Appointed 15 March 2024)
Recruitment and appointment of trustees
Equality Now's board has a nominating committee which nominates new trustees for consideration by the full board. Suggestions come from staff and existing trustees and selection preference is given to those candidates who represent skills and geographical women's rights knowledge missing from the Board at any given time. The nominating committee interviews shortlisted candidates to ensure they have time to commit to the organisation and are committed to Equality Now's work and policies. Successful candidates are then recommended to the full board for approval.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Members
At the 31 December 2023, there were five members of the charitable company. The liability of each of the members of the charitable company in the event of a winding-up is limited by guarantee to £1.
Organisational structure
The Board of Trustees is responsible for deciding, with input from the staff, the strategic plan and general work orientation of the organisation as well as its policies. The staff makes day-to-day decisions and implements the plan and policies.
Induction and training of trustees
New trustees are given an orientation pack, including organisational documents, policies, financial information and budget, which documents are discussed and any questions raised. Induction and training takes place at the annual board meeting. A training on governance is being planned which, together with a trustee self-evaluation, will identify areas of future focus.
Related parties
The charity has a close relationship with the Equality Now offices in New York and Nairobi.
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EQUALITY NOW
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT AND STRATEGIC REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Disclosure of information to auditor
Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
The trustees' report, including the strategic report, was approved by the Board of Trustees.
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. ............................. Ms S Sinha Trustee
Date: ....[J] ..[u] ..[n] ...[e] ...[2] ..[7] ....[2] ..[0] ...[2] ..[4] ..................
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EQUALITY NOW
STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023
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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company 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.
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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 2023 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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:
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the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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we have not received all the information and explanations we require for our audit.
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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.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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:
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Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud;
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Reviewing minutes of meetings of those charged with governance;
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Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection;
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Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
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Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
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.
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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 auditor's 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.
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Christopher Nisbet BA(Hons) FCA (Senior Statutory Auditor) for and on behalf of Azets Audit Services
Chartered Accountants Statutory Auditor
05/07/2024 ......................... Suites B & D Burnham Yard London End Beaconsfield Buckinghamshire 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.
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EQUALITY NOW
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income and endowments from: Donations and legacies 3 1,829,646 252,629 Investments 4 1,719 - Other income 5 1,159 - Total income 1,832,524 252,629 Expenditure on: Charitable activities 6 2,018,725 362,357 Net (outgoing)/incoming resources before transfers (186,201) (109,728) Gross transfers between funds (14,618) 14,618 Net (expenditure)/income for the year/ Net (outgoing)/incoming resources (200,819) (95,110) Other recognised gains and losses Other gains or losses 12 (605) - Net movement in funds (201,424) (95,110) Fund balances at 1 January 2023 845,639 235,081 Fund balances at 31 December 2023 644,215 139,971 |
Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 2,082,275 1,385,127 909,557 1,719 157 - 1,159 449 - 2,085,153 1,385,733 909,557 2,381,082 1,052,389 756,783 (295,929) 333,344 152,774 - 13,248 (13,248) (295,929) 346,592 139,526 (605) - - (296,534) 346,592 139,526 1,080,720 499,047 95,555 784,186 845,639 235,081 |
Total 2022 £ 2,294,684 157 449 |
|---|---|---|
| 2,295,290 | ||
| 1,809,172 | ||
| 486,118 - |
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| 486,118 - |
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| 486,118 594,602 |
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| 1,080,720 |
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.
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EQUALITY NOW
BALANCE SHEET
AS AT 31 DECEMBER 2023
| Notes Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Income funds Restricted funds 16 Unrestricted funds |
2023 £ 67,357 827,590 894,947 (110,761) |
£ 784,186 139,971 644,215 784,186 |
2022 £ 212,133 947,420 1,159,553 (78,833) |
£ 1,080,720 |
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| 235,081 845,639 |
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| 1,080,720 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023, although an audit has been carried out under section 144 of the Charities Act 2011.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on .[J] ..[u] ...[n] ..[e] ...[2] ...[7] ...[2] ..[0] ...[2] ..[4] .
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.............................. Ms S Sinha Trustee
Company registration number 04926476
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EQUALITY NOW
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes Cash flows from operating activities Cash (absorbed by)/generated from 19 operations Investing activities Investment income received Net cash generated from investing activities Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year |
2023 £ £ (121,549) 1,719 1,719 - (119,830) 947,420 827,590 |
2022 £ £ 342,525 157 157 - 342,682 604,738 947,420 |
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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.
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
3 Donations and legacies
| Unrestricted funds Restricted funds 2023 2023 £ £ Donations and gifts 34,392 - Legacies receivable 24,000 - Grants received 1,556,487 252,629 Donated goods and services 214,767 - 1,829,646 252,629 Donations and gifts Donations 33,658 - Gift aid 734 - 34,392 - Grants receivable for core activities Equality Now Americas 1,556,487 209,977 Equality Now Africa - 14,363 Other grants - 28,289 1,556,487 252,629 |
Total Unrestricted funds Restricted funds Total 2023 2022 2022 2022 £ £ £ £ 34,392 28,241 - 28,241 24,000 - - - 1,809,116 1,280,109 909,557 2,189,666 214,767 76,777 - 76,777 2,082,275 1,385,127 909,557 2,294,684 33,658 24,535 - 24,535 734 3,706 - 3,706 34,392 28,241 - 28,241 1,766,464 1,278,501 479,105 1,757,606 14,363 - 9,482 9,482 28,289 1,608 420,970 422,578 1,809,116 1,280,109 909,557 2,189,666 |
|---|---|
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
4 Investments
| Unrestricted | Unrestricted | |||
|---|---|---|---|---|
| funds | funds | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Interest receivable | 1,719 | 157 | ||
| Other income | ||||
| Unrestricted | Restricted | Total |
Unrestricted | |
| funds | funds | funds | ||
| 2023 | 2023 | 2023 |
2022 | |
| £ | £ | £ |
£ | |
| Other income | 1,159 | - | 1,159 |
449 |
5 Other income
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
6 Charitable activities
| Staff costs Insurance Telephone Postage and stationery Travel and accommodation Consultancy Rent Office equipment Translation and interpretation Bank charges Legal expenses Staff training 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 2022 Unrestricted funds Restricted funds |
2023 £ 1,237,154 3,706 1,281 24,252 122,252 471,639 845 9,258 46,392 5,025 214,767 778 2,137,349 48,421 179,573 15,739 2,381,082 2,018,725 362,357 2,381,082 1,052,389 756,783 1,809,172 |
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 |
|---|---|---|
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
7 Grants payable
| Grants to institutions (4 grants): Equality Now Africa Women Against Violence and Exploitation in Society (WAVES) Defence for Children International (DCI) Uthema Forum for Women, Law & Development Ekta Prishad Trust NIHOL Equality Now Inc |
2023 £ - - - 5,908 10,238 - 29,316 2,959 48,421 |
2022 £ 60,000 25,773 30,130 13,467 6,549 18,311 38,601 - |
|---|---|---|
| 192,831 |
8 Support costs
| Staff costs Insurance Telephone, postage and stationery Sundries Travel and accommodation Consultancy Rent Office equipment Staff training Credit card fees and bank charges Legal expenses Audit fees Accountancy Legal and professional Analysed between Charitable activities |
Support Governance costs costs £ £ 159,846 - 1,918 - 966 - 856 - 3,084 - 8,608 - 6 - 75 - 1,836 - 311 - 2,067 - - 14,100 - 1,513 - 126 179,573 15,739 179,573 15,739 |
2023 £ 159,846 1,918 966 856 3,084 8,608 6 75 1,836 311 2,067 14,100 1,513 126 195,312 195,312 |
Support Governance 2022 costs costs £ £ £ 141,072 - 141,072 931 - 931 11,454 - 11,454 - - - 5,108 - 5,108 2,779 - 2,779 627 - 627 - - - - - - 550 - 550 1,660 - 1,660 - 14,970 14,970 - 1,500 1,500 - 126 126 164,181 16,596 180,777 164,181 16,596 180,777 |
|---|---|---|---|
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
10 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2023 Number 17 2023 £ 1,205,714 136,453 54,833 1,397,000 |
2022 Number 13 2022 £ 886,192 88,548 46,098 1,020,838 |
|---|---|---|
The number of employees whose annual remuneration was more than £60,000 is as follows:
| is as follows: | ||
|---|---|---|
| 2023 | 2022 | |
| Number | Number | |
| £60,001 - £70,000 | 5 | 2 |
| £70,001 - £80,000 | 2 | - |
| £100,001 - £110,000 | 1 | 2 |
| £120,001 - £130,000 | 2 | 1 |
11 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
12 Other gains or losses
| Other gains or losses | ||
|---|---|---|
| Unrestricted | Total | |
| funds | ||
| 2023 | 2022 | |
| £ | £ | |
| Foreign exchange loss | 605 | - |
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
13 Debtors
| Amounts falling due within one year: Other debtors Prepayments and accrued income 14 Creditors: amounts falling due within one year Notes Deferred income 15 Trade creditors Accruals 15 Deferred income Other deferred income Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Movements in the year: Deferred income at 1 January 2023 Released from previous periods Resources deferred in the year Deferred income at 31 December 2023 |
2023 2022 £ £ 59,585 208,314 7,772 3,819 67,357 212,133 2023 2022 £ £ 409 13,698 47,634 18,562 62,718 46,573 110,761 78,833 2023 £ 2022 £ 409 13,698 2023 £ 2022 £ 409 13,698 13,698 132,893 (13,289) (119,604) - 409 409 13,698 |
|---|---|
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
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 | Movement in funds | Movement in funds | Movement in funds | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Transfers | Balance at | Incoming | Resources | Transfers | Exchange | Balance at | ||
| 1 January 2022 | resources | expended | 1 | January 2023 |
resources | expended | differences | 31 December | |||
| 2023 | |||||||||||
| £ | £ | £ | £ | £ | £ | £ | £ | £ | £ | ||
| European Commission | - | 293,007 | (73,845) | - | 219,162 | - | (79,191) | - | - | 139,971 | |
| Generation Foundation | - | 55,394 | (55,394) | - | - | - | - | - | - | - | |
| Comic Relief | (6,932) | 119,604 | (116,021) | - | (3,349) | 28,289 | (30,704) | 6,932 | (1,168) | - | |
| Council of Europe | 2,888 | - | - | (2,888) | - | - | - | - | - | - | |
| Gates Foundation | 343 | 4,996 | (5,339) | - | - | 3,142 | (3,207) | - | 65 | - | |
| Equality Now Americas | 10,360 | - | - | (10,360) | - | - | - | - | - | - | |
| InMaat Foundation | - | - | - | - | - | 77,724 | (81,297) | - | 3,573 | - | |
| Novo Foundation | 7,201 | 244,654 | (251,855) | - | - | - | - | - | - | - | |
| Lovell Foundation | - | - | - | - | - | 3,513 | (3,520) | - | 7 | - | |
| Oak | - | 33,284 | (33,284) | - | - | 4,628 | (4,623) | - | (5) | - | |
| SIDA | - | 3,829 | (3,829) | - | - | 3,763 | (3,734) | - | (29) | - | |
| New Venture | - | - | - | - | - | 5,184 | (5,284) | - | 100 | - | |
| Wellspring Philanthropic Fund | - | 62 | (62) | - | - | - | - | - | - | - | |
| UN Women | 1,720 | 8,359 | (10,010) | - | 69 | - | - | - | (69) | - | |
| Victoria Gomez | 9,035 | 50,314 | (59,349) | - | - | - | - | - | - | - | |
| Wallace Global | 680 | - | (334) | - | 346 | 7,487 | (7,727) | - | (106) | - | |
| Winifred Stevens Foundation | 20,171 | 90,401 | (113,728) | - | (3,156) | 29,541 | (30,061) | 3,157 | 519 | - | |
| Gucci | 50,096 | - | (28,756) | - | 21,340 | 78,758 | (100,956) | - | 858 | - | |
| POWF | (7) | 5,653 | (4,977) | - | 669 | 2,754 | (4,207) | - | 784 | - | |
| UNFPA | - | - | - | - | - | 7,846 | (7,846) | - | - | - | |
| 95,555 | 909,557 | (756,783) | (13,248) | 235,081 | 252,629 | (362,357) | 10,089 | 4,529 | 139,971 |
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
17 Analysis of net assets between funds
| Unrestricted fund Restricted fund 2023 2023 £ £ Fund balances at 31 December 2023 are represented by: Current assets/(liabilities) 644,215 139,971 644,215 139,971 |
Total Unrestricted fund 2023 2022 £ £ 784,186 845,639 784,186 845,639 |
Restricted fund Total 2022 2022 £ £ 235,081 1,080,720 235,081 1,080,720 |
|---|---|---|
18 Related party transactions
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
Aggregate compensation
| 2023 | 2022 |
|---|---|
| £ | £ |
| 454,961 | 388,621 |
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 2023 2022 £ £ 1,766,464 1,757,605 14,363 9,482 1,780,827 1,767,087 |
Grants made 2023 2022 £ £ 2,959 - - 60,000 2,959 60,000 |
Grants made 2023 2022 £ £ 2,959 - - 60,000 2,959 60,000 |
|---|---|---|---|
| 60,000 |
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EQUALITY NOW
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023
| 19 Cash generated from operations (Deficit)/surpus for the year Adjustments for: Investment income recognised in statement of financial activities Foreign exchange differences Movements in working capital: Decrease/(increase) in debtors Increase in creditors (Decrease) in deferred income Cash (absorbed by)/generated from operations 20 Analysis of changes in net funds |
2023 £ (295,929) (1,719) (605) 144,776 45,217 (13,289) (121,549) |
2022 £ 486,118 (157) - (78,890) 54,649 (119,195) 342,525 |
|---|---|---|
The charitable company had no debt during the year.
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