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2022-03-31-accounts

REPORT& FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Any enquiries regarding this publication should be sent to us at: info@fawcettsociety.org.uk

© The Fawcett Society 2023 Design D.R. ink www.d-r-ink.com

The Fawcett Society (A company limited by guarantee no 04600514 Registered charity no 1108769)

Report and Financial Statements For the Year Ended 31 March 2022

CONTENTS

CONTENTS
Legal and Administrative information 3
Trustees’ Annual Report 4
Accounts 19
Auditor’s Report 20
Statement of Financial Activities (incorporating income and expenditure account)
for the year ended 31 March 2022 23
Balance Sheet as at 31 March 2022 24
Statement of Cash Flows for the year ended 31 March 2022 25
Notes to the Financial Statements for the year ended 31 March 2022 26

LEGAL AND ADMINISTRATIVE INFORMATION

Board of Trustees Fiona Mactaggart
Tanya Tunley
Karen Bradshaw
Iain Simpson
Emily Anstead
Caroline Bernard
Ayesha Hazarika
Baroness Anne Jenkin
Resham Kotecha
Zahra Latif
Rachel McLachlan
Liz Moseley
Sam Walker
Victoria Jones
Naushabah Khan
Tracey Fletcher
Chair(to 16th October 2021)
Chair(from 16th October 2021)
Vice Chair
Treasurer
(resigned 4th July 2021)
(resigned 26th May 2022)
(resigned 5th July 2021)
(from 16th October 2021)
(from 16th October 2021)
(from 16th October 2021)
(from 16th October 2021)		 Fiona Mactaggart
Tanya Tunley
Karen Bradshaw
Iain Simpson
Emily Anstead
Caroline Bernard
Ayesha Hazarika
Baroness Anne Jenkin
Resham Kotecha
Zahra Latif
Rachel McLachlan
Liz Moseley
Sam Walker
Victoria Jones
Naushabah Khan
Tracey Fletcher
Chair(to 16th October 2021)
Chair(from 16th October 2021)
Vice Chair
Treasurer
(resigned 4th July 2021)
(resigned 26th May 2022)
(resigned 5th July 2021)
(from 16th October 2021)
(from 16th October 2021)
(from 16th October 2021)
(from 16th October 2021)
Chief Executive Ofcer Jemima Olchawski
Felicia Willow(Interim)
(from 15th November 2021)
(until 15th November 2021)
Company Registration number 04600514
Charity registration number 1108769
Registered ofce Rich Mix Unit 2.E.11
35-47 Bethnal Green Road,
London E1 6LA
Independent Auditor Kevin Fisher, FCA, (Senior Statutory Auditor)
Myrus Smith
Chartered Accountants and Statutory Auditor
8 Burnell Road
Sutton, Surrey SM1 4BW
Accounts Preparation ExcluServ Limited
The Boutique Workplace
73 Watling Street
London EC4M 9BJ
Banker Unity Trust Bank Plc
Nine Brindley Place
Birmingham B1 2HB		 CCLA Investment Management
Ltd
80 Cheapside
London EC2V 6DZ
Natwest Bank
169 Victoria Street
London SW1E 5BT		 The Charity Bank Ltd
Fosse House
182 High Street
Tonbridge TN9 1BE

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TRUSTEES’ ANNUAL REPORT

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The members of the Board who act as Directors of the charity for the purposes of the Companies Act, and Trustees for charity law purposes, submit their annual report and the financial statements of the Fawcett Society (‘Fawcett’) for the year. The Board confirms that the annual report and financial statements of the charity comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association, 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Fawcett Society is a registered charity (1108769) and company limited by guarantee (04600514). Our original governing documents consisted of a Memorandum and Articles of Association which incorporated the organisation on 26 November 2002, and which was subsequently amended by special resolutions dated 18 September 2004 and 7 March 2005. These governing documents were superseded by new Articles of Association that were approved at the Annual General Meeting held on 2 November 2013 and amended at the Annual General Meetings on 12 November 2016 and 30 November 2019.

The Fawcett Society is a membership organisation and the Board is accountable to the members. Up to nine Board members are elected by the membership. A further four can be co-opted. Trustees are recruited following a skills audit of Board members to ensure that the Board has the right mix of skills and experience. Trustees are required to retire from office at the third annual general meeting following the commencement of their term of office, serving a maximum of two terms of office. There is an induction process in place to support new Trustees. The Board meets at least four times during the year. There are also three subcommittees – Finance, Audit and Risk; Governance, and the Equal Pay Fund Committee. A scheme of delegation is in place and day-to-day responsibility for ensuring the charity delivers on its aims and objectives is delegated to the Chief Executive.

Trustees have continued to keep the organisation’s governance needs and the diversity of the board under review. A Treasurer and Vice-Chair elected by the Board provide support to the Chair.

The Trustees are responsible for staff pay, benefits and terms and conditions. The Finance, Audit and Risk Committee reviews salary levels and any pay awards, making a recommendation to the board. Remuneration is reviewed annually, pay ranges are set out in the staff handbook and the salaries which are set reflect the roles and responsibilities of each postholder. Salaries are set at an appropriate level to retain excellent staff, while also making a comparison with rates of pay in the charity sector for similar roles and size of charity. In addition to pay we also provide annual leave and pension contributions above the legal minimum.

Major risks are reviewed quarterly by the full board and are also kept under review on a quarterly basis by the Finance, Audit and Risk Committee. The board monitors impact, probability, mitigations taken and identifies any additional action required.

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~~PUBLIC BENEFIT~~

Fawcett campaigns to promote equality and diversity, in particular equality between women and men, and to eliminate gender discrimination for the benefit of the public in the UK. The notion of public benefit is enshrined in our objectives and we do not restrict access to this benefit. The Board refers to the Charity Commission’s general guidance on public benefit when reviewing its aims and objectives and in any planning of future activities.

~~OUR VISION~~

A society in which women and girls in all their diversity are equal and truly free to fulfil their potential; creating a stronger, happier, better future for us all.

~~OUR MISSION~~

We are the UK’s leading membership charity campaigning for gender equality and women’s rights.

We publish compelling research to educate, inform and lead the debate; we bring together politicians, academics, grassroots activists and wider civil society to develop innovative, practical solutions; we work with employers and in schools and we campaign with women and men to make change happen.

~~OUR VALUES~~

We have established three groups of brand values which define how we want Fawcett to be perceived externally.

Dynamic, bold, spirited, pioneering. Authoritative, respected, practical, credible. Engaging, plain speaking, approachable.

~~OUR CHARITABLE OBJECTIVES~~

Fawcett is the UK’s leading campaigning organisation for gender equality and women’s rights. Fawcett works to promote equality and diversity, in particular equality between women and men and to eliminate gender discrimination for the benefit of the public including (but without limitation) by:

We are the only national organisation rooted in the suffrage movement with over 150 years of evidence-based campaigning. We focus on removing the structural and underlying causes of gender inequality.

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SUMMARY OF ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE

~~TEAM FAWCETT~~

Staff

Fawcett’s staff team is small and works hard to achieve a considerable impact. The Trustees recognise the dedication of the staff team and thank them for all their efforts to achieve strong results over the course of this year.

Jemima Olchawski joined the Fawcett Society as CEO in November 2021. Jemima was previously Head of Policy and Insight at the Fawcett Society 2015-2018 and brings excellent understanding of Fawcett’s mission, work and the wider sector to her new role as CEO. Jemima took over from Felicia Willow, who acted as Interim CEO from November 2020.

Volunteers

Trustees recognise that we simply could not achieve everything we do without our volunteers. We express our gratitude to each and every one of them. Volunteering was reduced this year due to Covid, but we are grateful to the 6 volunteers we have worked with who provided us with research and administrative support.

Local Groups

We currently have 21 Local Fawcett groups across the UK. The local groups continue to strive to raise awareness of Fawcett’s work in their local areas as well as fundraising for Fawcett and campaigning on local issues affecting women and girls. We’d like to say a huge thank you to them for their ongoing support and their resilience and adaptability as we continue to adapt to life with Covid-19.

Members

Fawcett is more than a charity: it is a movement of feminists for change. Our members do more than help to fund our work. They participate in it – whether through our write to your MP actions to campaigns for new legislation to protect women from sexual harassment in the workplace or leading agenda setting campaigns in their own communities, they help us to promote our campaigns and raise awareness. As local groups, they take our work further, helping to identify and lead grassroots projects that align with our national priorities.

The Trustees are also grateful to the individuals and organisations who make in-kind contributions to Fawcett’s work throughout the year. We want to express our gratitude to them for donating their skills, expertise, time or facilities in support of our work.

Our goal continues to be to provide members with an excellent experience through compelling content alongside opportunities to engage via local groups, campaigning asks, events and other ad hoc opportunities such as contributing to our research.

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Fawcett’s membership has fallen this year, and now stands at 3,525. There are multiple reasons for this. The main reason for the decline is improvements in recording memberships with full use of our CRM which has better identified members who had lapsed. Better data will ensure more effective stewardship of members going forward. We have seen an increase in the number of members who cancel. In many cases this is the result of budget constraints. Given the post Covid context and the current cost of living pressures of households this is likely to continue. The decline also reflects that during a previous financial year 70 free memberships were created and these all expired 21/22. Finally, during the height of the Covid pandemic, a significant number of memberships were renewed without payment because circumstances meant that Fawcett was keen to keep our members informed despite delays in processing payments. These memberships then expired during this year.

Fawcett will continue to offer and promote concessionary membership to support ongoing participation. It is clear though that our membership remains active and engaged with high levels of attendance at our events and engagement with newsletters and campaigns.

We are incredibly grateful to our members who make many of our independent, evidencebased campaigns possible such as our landmark Equal Pay Day Campaign.

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~~CHARITABLE ACTIVITIES POWER~~

Over the past year Fawcett has continued to lead in pushing for women to hold decisionmaking positions that hold power and influence. This is essential to changing the structures that continue to hold women back across our society.

Sex and Power

Fawcett continues to gather data and monitor the progress on women’s representation. This work is essential in ensuring the nature of the challenge for gender equality is understood as well as to build and maintain pressure for change. In January, we launched our flagship Sex and Power 2022 Index, a biennial report which charts the progress towards equal representation for women in top jobs across the UK. Yet again, the report reveals the pace of change is glacial in the majority of sectors and shows that men outnumber women by 2 to 1 in positions of power. Women of colour are vastly underrepresented at the highest levels of many sectors

and alarmingly, they are missing altogether from senior roles such as Supreme Court Justices, Metro Mayors, Police and Crime Commissioners and FTSE 100 CEOs.

Women and local government

Local government is vital in this effort because it is an important pipeline for national political representation and also a vital site of power in its own right, with women in particular likely to rely on services run by councils.

We worked with the Democracy Club to monitor the number of women elected to local

councils in May 2021 . The report found that just 34% of the 4,980 councillors elected in May were women. This means that, at this rate of change, we won’t see gender parity in local councils until 2077 – over 50 years away. Across England women make up just 35% of the total number of councillors – less than a 1% increase since the 2019 elections.

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SEX&
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2022
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CATHERINE MARREN & ANDREW BAZELEY
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To increase women’s representation in local government it’s vitally important to create conditions that support women’s participation. Since our Local Government Commission was published in 2017 Fawcett has called for baby leave for councillors. This year we continued the campaign and our Councillor Count report included new data uncovered by Fawcett that three quarters of councils still don’t have maternity or paternity policies in place for members. We will continue to push for more local authorities to commit to having the policies in place that ensure local government is welcoming for women.

We have continued to call for change, to make local government more accessible for women and for those from underrepresented and marginalised communities. We have also empowered our local groups to engage with their local councils on our recommendations with real

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success. Milton Keynes Council have agreed to introduce a Parental Leave Policy for councillors as a direct result of campaigning by Fawcett Milton Keynes. Other organisations and groups have also been using our research to campaign locally with GM4Women working to get all local councils in Greater Manchester to adopt parental leave policies for their councillors.

This year we concluded our work with the Equal Power partnership – we have been proud to be a founding partner on this project to increase the number of women standing for political office and will remain a friend to the project as this work progresses.

APPG Women in Parliament

Women in Parliament

In November 2021, we were delighted to receive a grant from JRSST Charitable Trust to undertake a project examining parliamentary retention. We wanted to explore this issue because of our concerns over the high proportion of women MPs who decided to leave politics following the 2019 General Election. While 18 of the 58 politicians who did not contest the 2019 election were women, this was higher than expected as they were more likely to have been recently elected to Parliament.

Of those women that left in 2019, most cited online abuse as the reason for their departure, while others said they wanted to more time with their family.

Consequently, this research explores the views of current and former MPs on their roles, whether they plan to stay or leave politics and the changes needed to ensure a more representative and inclusive democracy into the future. It builds upon the pre-existing research, addressing the question of retention by exploring MPs’ ambitions and hopes when entering Parliament, and the different pressures they experience in the role. Our research is extensive, comprising 20 interviews with past and current MPs, a survey of 100 current MPs, discussions with expert stakeholders and a literature review.

The Fawcett Society provides the secretariat for the All-Party Parliamentary Group (APPG) on Women in Parliament on behalf of officers and members. The group brings together MPs and peers to discuss and campaign for increasing the number of women in Parliament in all parties and, and to support women in Parliament and those standing for public office.

This year the APPG, supported by Lloyds Bank, hosted an event on International Women’s Day in conjunction with 50:50 Parliament and UN Women. The event aimed to encourage more women to stand for political office and centred on a panel discussion with women MPs speaking about their political journey. We were pleased to have participants from across the political parties, including Mother of the House, Harriet Harman MP, Maria Miller MP, and Claire Coutinho MP.

Our research will be published early in 2023 and will offer valuable insights into the decisionmaking processes of MPs when considering whether to stay in or leave politics. It will also reveal the changes required, many suggested by MPs, to create a representative, modern-day workplace which fosters inclusivity and diversity.

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~~CHARITABLE ACTIVITIES MONEY~~

As we emerge from the impact of Covid, our work on women’s economic security and access to quality work is even more vital.

closing 4.7% of the existing gender pay gap for all employees, to a 6.2% boost to women’s pay which closes 43% of the gender pay gap for jobchangers (and half of racial pay gaps).

Equal Pay Day

Fawcett ran its flagship Equal Pay Day Campaign in November, marking the day when women effectively stop getting paid for the year as a result of the gender pay gap. This year we partnered with Fawcett East London focusing on their calls to End Salary History.

Fawcett created a briefing paper which combined a rapid evidence assessment of the research literature on salary history bans in the US; exploration of some other gender equalityenhancing changes to recruitment; nationally representative polling of the UK population conducted by Savanta Comres; and case studies from the public of the impact of salary history questions collated via an online survey by East London Fawcett Society.

The polling found that questions about salary history have a detrimental impact on women, 61% said that these questions made them feel less confident when negotiating for better pay. But asking for salary history is also harmful for the reputation of employers.

Over half of women and men agree that being asked salary history questions made them feel less positive about their potential employer. What’s more, the data produced isn’t even reliable as four in ten workers say they have lied in response to these questions.

At the same time the evidence review highlighted the powerful case for salary history bans. In the US, 21 states or city governments have taken the step of banning salary history questions to some degree. Research on the effect of these changes tends to find that these bans have narrowed the gender pay gap, with effects ranging from

The day itself was a huge success with coverage in outlets as diverse as the Telegraph , Standard , Glamor and the Big Issue . Over 60 employers signed up to the End Salary History pledge with support from organisations such as IKEA, News UK and the Samaritans. This powerful combination of evidence, media coverage and leveraging the power of employer support enabled us to secure agreement from the government for a voluntary pilot of Ending Salary History, which was announced on International Women’s Day. While it’s clear that mandatory changes will have a far greater impact, we welcome this first step and the opportunities to demonstrate the benefits in a UK context.

Work and the menopause

An important programme of work, Fawcett undertook was in highlighting the impact of the menopause on hundreds of thousands of women. This often-ignored life experience affects over half of the population and yet there is very little support for women undergoing this life change, particularly in the workplace. Fawcett began by exploring the experience of women in the Menopause in financial services, and our report, the Workplace: Impact on Women in Financial Services , shows that 25% of women are more likely to leave the financial services workforce due to menopause experience.

In collaboration with Standard Chartered Bank and the Financial Services Skills Commission, we conducted a large-scale survey of over 2,400 women and men working in the UK financial services sector at all levels, from over 100 organisations. The research sought to understand how the menopause impacts women working in the sector and how employers can better support their employees.

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The report uncovered three key findings:

workplace, which will include its findings when the documentary airs in Autumn 2022.

There has been growing awareness of this issue over the previous year and Fawcett worked alongside high profile campaigns such as the Menopause Mandate and Carolyn Harris’ calls for an end to prescription charges for access to HRT. In particular we have been proud to support the makers of Davina McCall’s documentary, ‘Sex, Myths and the Menopause’ on the largest survey of peri-menopausal women in the

Pay and Progression of Women of Colour

Fawcett is committed to exploring the specific barriers faced by women in all their diversity and this must include the interactions between sexism and racism. We cannot understand and resist women’s oppression unless we know the different ways it plays out and manifests. In partnership with Runnymede Trust, our Pay and Progression of Women of Colour Literature Review has for the first time, brought into focus vast research and evidence into the multitude of barriers women of colour face in the workplace.

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The report highlights that although women of colour are severely underrepresented in management and senior leadership positions, the oppression and disadvantages that leads to their underrepresentation begin well before they even enter the workplace, starting at school and university, following women into employment, trying to progress at work and finally, at senior leadership stages.

Childcare

A lack of affordable, flexible childcare remains a fundamental barrier to women’s equality and ability to participate fully in the workplace. We have begun work on a literature review comparing provision in similar welfare regimes. This project will enable us to develop practical proposals for reform of childcare compatible with the UK’s wider approach to service provision. The final report is due later in 2022.

Equal Pay Advice Service

The report also recommended solutions that can be implemented by educators, employers and government to effectively tackle this life cycle of barriers women of colour face in regard to pay and progression. It is imperative to unlock the potential of women of colour otherwise we risk losing significant talent, skills and experience in the workplace. Challenging employers to begin a process of action-oriented change in this area, could add an extra £24 billion to the UK economy. The report received a high level of coverage and media interest including in the Financial Times. The appetite for evidence and discussion around this interest is clear and Fawcett is continuing work with Runnymede on this topic with new research in the coming year.

Funded by Carrie Gracie’s generous donation and additional individual donations, the Equal Pay Advice Service works in partnership with Leigh Day. The service supports women at the early stages of their equal pay case to have a conversation with their employer and settle the claim. Over the course of the year, we supported 26 applications an increase on the previous year. The vast majority women accessing the service are earning £30k per year or less.

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~~CHARITABLE ACTIVITIES GENDER NORMS AND STEREOTYPES~~

Early Years

We have continued to campaign and advocate on the findings of our ground-breaking report Unlimited Potential . We are hugely proud that as a result of our work with Ofsted they have now made challenging stereotypes a requirement for schools to achieve the “Good” rating in their handbook. This means14,000 more schools are now required to tackle gender norms. It’s clear there remains a great deal to do in this area and more training and support for schools is required.

Advertising

Fawcett also worked with industry partners to change practice in the advertising industry. We collaborated with LIONS to publish a new guide Smashing Stereotypes in Advertising . The guide draws on Fawcett’s research to support industry practitioners who want to actively challenge gender stereotypes throughout the creative process.

The Smashing Stereotypes in Advertising Guide presents case studies and checklists for the industry to draw upon at every stage of the creative process, and highlights that while big statements about equality and inclusion can be impactful, smashing gender stereotypes can also be as simple as changing a colour scheme on set, or tweaking the script. The Guide was developed in collaboration with advertising

practitioners and industry representatives from the UK and Europe who came together at two roundtable events to shape the content, ensuring it will add value for clients and agencies throughout each stage of creating and delivering a creative campaign.

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BRIEF STYLING
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Blueprint for action: Smashing stereotypes one step at a time

Equal Play

Our research makes clear that many parents want more support to challenge gender stereotypes and create ways for their children to smash stereotypes. On International Women’s Day we launched our Equal Play Campaign, with match funding from the Big Give. Together with Fawcett members and supporters we raised over £12,000. The money raised will support 5,000 parents to take action to challenge stereotypes in their families. Work on programme will begin in 2023.

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~~CHARITABLE ACTIVITIES WOMEN’S RIGHTS~~

We need to rethink how we approach sexual harassment

Almost seven in ten (68%) disabled women reported being sexually harassed at work, compared to 52% of women in general.

In July 2021 the UK Government committed to legislation to place responsibility on employers to prevent sexual harassment, following campaigning by Fawcett and other groups fin the wake of the #MeToo movement. This move recognises that sexual harassment is not just about the aberrant behaviour of a few individuals. It is about a culture within workplaces where every day behaviour which, predominantly, violates the dignity of, women, is too often treated as acceptable “banter”.

To support the ongoing campaign to protect women’s right to safety, Fawcett undertook new research on Tackling Sexual Harassment in the Workplace . This project was a collaboration with Chwarae Teg, Women’s Resource and Development Agency and Close the Gap and drew on existing literature and a new survey from the Chartered Management Institute.

The research found that sexual harassment in the workplace is commonplace; at least 40% of women have experienced workplace harassment, and women who are marginalised for other reasons, such as race or disability, face an increased risk and different forms of sexual harassment.

Ethnic minority workers (women and men) reported higher rates (32%) of sexual harassment than white workers (28%) over the last 12 months. A poll of LGBTQ+ workers found that 68% had experienced some form of harassment in the workplace.

This culture is upheld by the way many employers approach sexual harassment, seeking to quietly resolve incidents after they have happened, and to minimise liability. This approach is an individualised response to an institutional problem. Our research offers concrete recommendations for more effectively tackling this issue.

In February the partnership launched a tool kit for employers to address sexual harassment in the workplace. The toolkit has been downloaded hundreds of times . In the coming year Fawcett will be campaigning to ensure the Government delivers on its commitments to reform the laws and increases the level of protection for women in the workplace.

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Employers
4 in 5 workers focus on Women also risk
do not report paper-based victimisation and
unwanted sexual compliance, retaliation, so they
and can seem
don’t feel able
behaviour to
to tolerate
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~~CHARITABLE ACTIVITIES COVID 19~~

Fawcett continued to draw attention to the impact of Covid 19 and the policy response on women. We responded to the consultation on the terms of reference for the Public Inquiry into the pandemic and met with the Inquiry team as part of the consultation process. This, long with the work of other campaigners, led to a number of changes in the terms of reference to include issues that had particular and significant impact of women such as the inclusion of antenatal and post-natal care, mental health and domestic abuse. As per our recommendation the terms of reference have been reframed to make clear that inequalities are an overarching theme for the inquiry and that an intersectional approach will be taken

Sex and Power 2022 uncovered that at the height of the pandemic, women were underrepresented across the Scientific Advisory Group for Emergencies (SAGE) and related subgroups advising cabinet on the coronavirus response. As of February 2021, women made up 38% of the Track and Trace Exec Committee.

The Fawcett Society have continued to call on Government to ensure that greater numbers of women are at the decision-making table. We are now seeing better representation of women on the Covid-19 advisory boards, though this is still some way off parity. As of November 2021, only 92 of the 274 seats at these boards, or 34%, are held by women.

We drew attention to the lack of women in key decision-making roles around pandemic policy.

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REACH AND PROFILE

Throughout the year Fawcett’s reach and profile have remained very strong. With coverage on a broad range of print, broadcast and online outlets. These include Woman’s Hour, Times Radio, Sky, Guardian , Stylist and Telegraph . Our social media profile has grown across the board and for our Equal Pay Day hashtag trended on the day of the campaign.

Fawcett representation

The team have spoken at numerous events throughout the year, including with employers and large companies, conferences, charity events, government events and panels. From responding to new research on the pay gap with the University of Essex and sharing our research findings with Government Departments to speaking to the APPG on Women and Work and employer Fawcett remains a go to for expertise on gender equality and women’s rights.

Consultation responses

Fawcett is always engaged with ensuring policy makers have access to the best evidence and arguments when making policy impacting on our priority areas. We have submitted a number of consultation responses to government proposals including the Department for Health’s Women’s Health Strategy; the COVID-19 Inquiry consultation and the Making Flexible Working the Default consultation.

Social media

Our reach on Twitter has increased from 65,000 followers to 68,000 with between 100,000 and 600,000 impressions a month. We continue to grow our presence on Instagram with 13,000 followers, up from 12,500 last year. We achieve between 20,000 and 60,000 impressions a month and high engagement – beteen 600 and 1500 a month. We’ve also seen rapid growth on LinkedIn following a revamp of our approach to this outlet. We’ve increased our followers from 4500 to 6700 and now see between 21,000 and 35,000 impressions a month. This channel is particularly valuable as a way to reach women

and men in the workplace impacted by much of our work, along with raising our profile with employers. Our Facebook following has also increased from 15500 to 18500

INCOME GENERATION

Fundraising

We continue to benefit from support from a diverse range of funders for which we are very grateful. We have received both restricted and unrestricted funding from trusts and foundations to a total of £442,142. This is slightly down on the £476,572 secured in the previous year. Our corporate partnerships remain strong, generating over £40k in donations and corporate participation income. We are incredibly grateful to all our donors and funders for their continued support. We recognise that we simply could not exist without you.

FINANCIAL REVIEW

Investments

The cash reserves of the Fawcett Society are invested across three banks and one investment management fund in order to spread our risk.

Reserves Policy

The reserves policy is set by the Board and reviewed annually. Reserves are maintained at a level which ensures the charity’s core activity could continue during a period of unforeseen difficulty and all reserves are in cash or near cash. To allow the charity to be managed efficiently and to provide a buffer for uninterrupted services and fluctuations in income, the Fawcett Society aims to maintain unrestricted reserves equivalent to three months of expenditure. Funds at the balance sheet date were £509k (£561k 2021)). Of these funds, £204k represents restricted funds (£230k 2020) and £305k is unrestricted (£331k 2020). This represents 5.2 months of 2022-23’s total budgeted expenditure and so falls within the reserves policy set by the Board.

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This has been a challenging couple of years and the Fawcett Society has worked hard to adapt to the new environment. This has enabled us to retain and develop new funding relationships and keep income steady. This has been delivered through a mix of core and project based funding for work closely aligned to our mission and strategy. In the coming year the cost of living crisis is a significant challenge for Fawcett along with many other membership and charitable organisations and it will be important to secure multi-year grants that offer medium term security and support good organisational planning.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also Directors of The Fawcett Society for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

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.

In so far as the Trustees are aware:

The Trustees are responsible for the

maintenance and integrity of the corporate and financial information included on charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislations in other jurisdictions.

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.

Signed on behalf of the Board of Trustees Tanya Tunley, Chair 17th January 2023

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ACCOUNTS

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AUDITOR’S REPORT

Opinion

We have audited the financial statements of The Fawcett Society (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of 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 trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a

20 | Trustees’ annual report and accounts 2021-2022

material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes 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

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

21 | Trustees’ annual report and accounts 2021-2022

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 noncompliance 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 noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

K.C. Fisher (Senior Statutory Auditor) For and on behalf of Myrus Smith Statutory Auditor

4 November 2022

Norman House 8 Burnell Road Sutton, Surrey SM1 4BW

22 | Trustees’ annual report and accounts 2021-2022

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Notes
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Income - CRJS grant
Total income and endowments
Expenditure on:
Raising funds
6
Charitable activities
7
Total expenditure
Net income / (expenditure)
Transfers between funds
Other recognised gains/(losses):
Other gains/(losses)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
19
Total funds carried forward		 Unrestricted
funds
£
554,265
10,908
41,895
6
723
Restricted
funds
£

323,624

-

-

-

-
Total 2022		 Total 2021
£

978,671

10,070

80,880

679

21,709
£

877,889

10,908

41,895

6

723
607,797
323,624
931,421
1,092,009
81,974
551,652
-

349,698
101,547

924,649

81,974

901,350
633,626
349,698
983,324
1,026,196
(25,829)
(26,074)
(51,903)
65,813
-
-
-

-
-

-

-

-
(25,829)
(26,074)
(51,903)
65,813
331,300
230,148
495,635

561,448
305,471 204,074
509,545
561,448

The Statement of Financial Activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities.

The notes on pages 26 to 38 form part of these financial statements.

23 | Trustees’ annual report and accounts 2021-2022

BALANCE SHEET AS AT 31 MARCH 2022

Notes
FIXED ASSETS
14
Tangible assets
CURRENT ASSETS
Stocks
15
Debtors
16
Cash at bank and in hand
CREDITORS: due within one year
17
Net Current Assets
Net Assets
FUNDS
Restricted funds
19
Unrestricted funds:
Designated funds
19
General funds
19
TOTAL FUNDS		 As at 31 March
2022
As at 31 March
2021
£
5,652

-
105,472
648,526
£
4,130
-
36,031
565,626
601,657 753,998
(198,202)
(96,242)
555,796
505,415
509,545 561,448
230,148
5,652
325,648
204,074
4,130
301,341
509,545 561,448

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies act 2006 relating small companies.

These accounts were approved by the Board of Directors and authorised for issue on 4 November 2022

and signed on their behalf by:

Tanya Tunley, Chair

The notes on pages 26 to 38 form part of these financial statements.

24 | Trustees’ annual report and accounts 2021-2022

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Net cash fow from operating activities
Cash fow from investing activities
Payments to acquire tangible fxed assets
Interest received
Net cash fow from investing activities
Net increase / (decrease) in cash and cash equivalents
Cash and cash equivalents at 1 April 2021
Cash and cash equivalents at 31 March 2022
Cash and cash equivalents consists of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2022		 2022 2021
£
241,020
(1,800)
679
£
(81,130)
(1,776)
6
(1,770) (1,121)
239,899
408,627
(82,900)
648,526
565,626 648,526
648,526
565,626
565,626 648,526

Reconciliation of net income/(expenditure) to net cash flow from operating activities:

Net income / (expenditure) for year / period
Interest receivable
Depreciation and impairment of tangible fxed assets
(Increase) / decrease in stock
(Increase) / decrease in debtors
(Decrease) / Increase in creditors
Net cash fow from operating activities		 2022 2021
£

65,813

(679)

3,159

5,519

8,521

158,687
£
(51,903)
(6)
3,298
-
69,441
(101,960)
(81,130) 241,020

The notes on pages 26 to 38 form part of these financial statements.

25 | Trustees’ annual report and accounts 2021-2022

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

1) Accounting Policies

General Information

The Fawcett Society is a charitable company, limited by guarantee, domiciled in England and Wales.

The registered office and company registration number are as detailed on page 3.

Basis of Preparation

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Company Status

The company is a private company limited by guarantee. The members of the company are the Trustees named on page 3. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Reduced Disclosure Exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland:”

Going Concern

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.

Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Grant income is deferred when there is a donor imposed or implied condition specifying the time period over which the income may be expended or in accordance with agreed budgets.

Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and that economic benefit can be measured reliably.

26 | Trustees’ annual report and accounts 2021-2022

The company received government support through the Coronavirus Job Retention Scheme (CJRS) which is accounted for on the accrual basis, in Other Income in the Statement of Financial Activities.

On receipt, donated professional services and donated facilities which have a quantifiable benefit, are recognised on the basis of the value of the gift to the company which is the amount the company would have had to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

No amount is included in the financial statements for volunteer time in line with the SORP.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.

The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at centrally. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Board in furtherance of the general objects of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund are set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund are set out in the notes to the financial statements.

Stock

Stock is valued at the lower of cost and net realisable value.

Tangible Fixed Assets

All assets costing more than £500 are capitalised. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value over their expected useful lives on the following bases:

Fixture, fittings and office equipment

Website costs - 25% to 50% straight line

27 | Trustees’ annual report and accounts 2021-2022

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Pensions

The charity contributes to a defined contribution pension scheme. Contributions are charged to the statement of financial activities as they become payable in accordance with the rules of the scheme. The assets of the scheme are held separately from those of the charity. The charity has no liability under the scheme other than for the due payment of contributions.

Operating Leases

Rentals payable under operating leases are charged on a straight-line basis over the lease term.

Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Local Groups

The charity has a strong and growing network of affiliated local groups who promote The Fawcett Society and campaign locally on gender inequality issues. In accordance with Charities SORP, the charity does not consolidate the results of the local groups for accounting purposes.

Critical Accounting Judgements and Key Sources of Estimation Uncertainty

In preparing the financial statements, management is required to make estimates and assumptions which affect reported income, expenses, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgements are inherent in the formation of estimates, together with past experience and expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

Management do not consider there to be any material accounting estimates or judgements that need disclosure in these financial statements.

28 | Trustees’ annual report and accounts 2021-2022

2) Donations and legacies

Grants and Trusts
Membership and Donations
Legacy
Analysis of Grant and Trust Donations
Barrow Cadbury Trust
Big Give
Comic Relief
Comic Relief - Power Up
Esmée Fairbairn
Gifts in kind
Ian Mactaggart
Joseph Rowntree Charitable Trust (Merger)
Joseph Rowntree Reform Trust (JRRT)
Joseph Rowntree Charitable Trust (Core)
JRSST-CT
Maltby Minerva
Sisters Trust
Pacey
Pavers
Smallwood Trust (Women of Colour)
Smallwood Trust
Rosa
Women’s Budget Group
Other		 Unrestricted
£
119,518
431,747
3,000		 Restricted
£
322,624
1,000
-		 Total 2022 Total 2021
£
476,572
420,122
81,977
£
442,142
432,747

3,000
554,265 323,624 877,889 978,671
-
-
-
-
60,000
-
-
-
-
47,635
-
-
11,883
-
-
-
-
-
-
-
500

4,484

-

117,615
-

30,331

15,000

(63)

2,690
-

38,293

13,800
-

7,911

6,000

45,297

-

20,076

20,690

-		 14,750
-

34,908
100,820
39,063
45,000
-
15,000
42,728
70,708
-
1,200
14,918
-
-
28,285

25,000
20,377
14,065

9,750
500
4,484

-
117,615

60,000
30,331
15,000
(63)
2,690

47,635
38,293
13,800

11,883
7,911
6,000
45,297

-
20,076
20,690

-
119,518 322,624 442,142 476,572

Income from donations and legacies was £877,889 (2021: £978,671) of which £358,425 (2021: £317,797) was attributable to restricted and £554,265 (2021: £660,874) was attributable to unrestricted funds.

29 | Trustees’ annual report and accounts 2021-2022

3) Charitable activities

) Charitable activities
Awareness-Raising Activities Total 2022
Total 2021
£
£
10,908
10,070
10,908
10,070

All income from charitable activities was unrestricted for the current and prior year.

4) Trading activities

Fundraising events
Fawcett Shop
Commercial Participation		 Total 2022 Total 2021
£
485
546
79,849
£
175
1,547
40,173
41,895 80,880

All income from trading activities was unrestricted for the current and prior year.

5) Investment Income

Bank interest Total 2022
Total 2021
£
£
6
679
6
679

All income from investment income was unrestricted for the current year.

6) Raising funds

By Function:
Staf Costs
Other Costs
By Activity:
Costs of Donations and Legacies
Costs of Trading Activities		 Total 2022 Total 2021
£
77,561
23,986
£
64,625
17,349
81,974 101,547
94,648
6,899
81,744
230
81,974 101,547

All costs for raising funds was unrestricted for the current and prior year.

30 | Trustees’ annual report and accounts 2021-2022

7) Analysis of expenditure on charitable activities

7) Analysis of expenditure on charitable activities
Money
Power
Gender norms & stereotypes
Women’s rights
Covid Project		 Direct Staf
costs
Direct
Costs
Support
costs
Total 2022
Total 2021
£
£
£
£
£
72,472
99,240
49,001
220,713
174,377
68,626
131,303
110,257
310,186
374,481
59,756
13,317
24,502
97,575
105,679
61,375
31,893
24,502
117,770
106,955
65,615
52,738
36,753
155,106
163,157
327,844
328,491
245,015
901,350
924,649

Expenditure on charitable activities was £901,350 (2021: £924,649) of which £349,698 (2021: £381,584,) was attributable to restricted funds and £551,652 (2021: £543,065) was attributable to unrestricted funds.

8) Governance costs

8) Governance costs
Audit fee
Trustee expenses
AGM Expenses
Bank Charges
Other		 Total 2022
Total 2021
£
£
4,990
3,980
105
-
1,682
1,315
610
595
43,291
1,912
50,678
7,802

All governance costs was unrestricted for the current and prior year.

9) Allocation of support costs

Governance
Finance
Information technology
Human resources
Administration
Depreciation
Ofce costs (incl. rental)		 Money
£
10,135
5,554
12,942
5,647
6,852
659
7,212		 Power
£

22,805

12,500

29,118

12,708

15,418

1,484

16,224		 Gender
norms &
stereo-
types
£

5,068

2,778

6,471

2,824

3,426

330

3,605

Women’s
rights
£

5,068

2,778

6,471

2,824

3,426

330

3,605
Covid
Project
£

7,602

4,167

9,706

4,236

5,139

495

5,408
Total
2022
Total
2021
£

7,802

38,908

75,292

48,115

34,324

3,159

41,474
£

50,678

27,777

64,706

28,240

34,263

3,298

36,053
49,001
110,257
24,502
24,502
36,753
245,015
249,074

*Support cost allocation is based on the total spend, consistent with the use of resources.

31 | Trustees’ annual report and accounts 2021-2022

10) Net Income

Net income for the year is stated after charging:

10) Net Income
Net income for the year is stated after charging:
2022 2021
£ £
Depreciation 3,298 3,159
Auditor’s remuneration 4,100 4,100
Operating lease rentals 40,552 37,031

11) Staff costs

The total staff costs and employees benefit’s was as follows:

he total staf costs and employees beneft’s was as follows:

Salaries
Social Security Costs
Pension Costs
Staf costs split:
Charitable Activities
Generating Funds
Support		 Total 2022 Total 2021
£
426,908
36,656
17,376
£
386,569
36,586
16,880
440,035 480,940
302,600
77,561
100,779
327,843
64,625
47,567
440,035 480,940

The average number of employees paid was 12 (2021: 12) and the full time equivalent (FTE) during the year/period was as follows:

Direct Activities
Support
Costs of generating funds		 2022 2021
Number
6.6
2.2
1.7
Number
9.1
1.3
1.8
12.2 10.6

32 | Trustees’ annual report and accounts 2021-2022

The following number of employees received a gross salary between the below bands during the year:

Band 2021 2020
£70,000 to £79,999 - 1

The charity considers its key management personnel compromise of The Chief Executive Officer, The Chair and Vice Chair of the Board, and The Treasurer.

One member of the key management personnel is employed and received employee benefits in 2021 – The Chief Executive Officer. The total amount of employee benefits received by key management amounted to £80,511 (2021: £90,376). Under FRS 102, employee benefits includes gross salary, benefits in kind, employers national insurance and employers pension contributions.

The rest of the key management personnel are trustees and receive no remuneration for their work.

No members of the Executive Committee received reimbursements of expenses for travel and subsistence in the current and prior year.

12) Related Parties

There were no related party transactions in the current and prior year.

13) Indemnity Insurance

During the year, £1,000 (2021: £815) indemnity insurance was paid to protect the charity from loss arising from the neglect or defaults of its trustees or agents, and to indemnify the Trustees and other officers against the consequences of neglect or default on their part.

14) Tangible Fixed Assets

Ofce
Equipment
£
1,577
-
Computer
equipment
£

30,738

1,776		 Computer
Software
£
22,801
-		 Total
£
55,116
1,776
1,577
32,514		 22,801 56,892
1,279
259
25,384

3,039		 22,801
-		 49,464
3,298
1,538
28,423		 22,801 52,762
298
5,354		 - 5,652
39
4,091		 - 4,130

33 | Trustees’ annual report and accounts 2021-2022

15) Stock

15) Stock
Opening stock as at 1 April 2021
Movements in stock
Closing stock as at 31 March 2022		 31-Mar-22
31-Mar-21
£
£
-
5,519
-
(5,519)
-
-

16) Debtors

Accounts Receivable
Debtors and Prepayments
Accrued Income
Rental Deposit		 31-Mar-22 31-Mar-21
£

1,104

57,963

38,449

7,956
£
4,790
13,926
9,488
7,827
36,031
105,472

17) Creditors: Amounts falling due within one year

Trade Creditors
Accruals
PAYE Payable
Pension Contributions
Deferred income
18) Deferred Income
Balance Brought
Forward
Additions in year
01-Apr-21
£
£
Grants and donations
97,893
82,671		 31-Mar-22 31-Mar-21
£

48,307

41,088

5,668

5,246

97,893
£
37,744
40,405
8,162
2,931
7,000
96,242
198,202
Released to
Income
£
173,564		 Balance Carried
Forward
31-Mar-22
£
7,000

18) Deferred Income

Deferred income reflects grant income received in advance for the following financial year, to be expended in accordance with specified or implied timeframes and agreed budgets.

34 | Trustees’ annual report and accounts 2021-2022

19) Statement of Funds

Current Year
Designated Funds
Fixed Assets
Total Designated Funds
General Funds
Restricted funds
Barrow Cadbury
Big Give
Comic Relief - Power Up
Equal Pay Fund
Ian Mactaggart
Joseph Rowntree Reform Trust
Joseph Rowntree Charitable Trust
JRSST-CT
Smallwood Trust (Women of Colour)
Maltby Minerva
Pacey
Pavers
Rosa
Women’s Budget Group
Gifts in Kind
Total Restricted Funds
Total Funds		 At 1 April
2021
£
5,652
5,652
325,648
5,742
(285)
169,584
7,061
5,040
15,796
-
24,332
2,878
-
230,148
Income
£
-
-
607,797
500
4,484
117,615
1,000
15,000
2,690
(63)
38,293
45,297

13,800
7,911
6,000
20,076
20,690

30,331
323,624		 Expenditure
£

(1,522)

(1,522)
(632,104)
(6,242)
-
(117,330)
(44,149)
-
(9,751)
-
-
(51,458)
(12,967)
(4,747)
(4,747)
(44,408)
(23,568)
(30,331)
(349,698)		 Transfers and
investment
gains/
(losses)
£
-
-
-
-

-
-
-

-
-

-

-
-
-
-
-
-
-
-
-

At 31 March
2022
£

4,130

4,130

301,341

-

4,484

-

126,435

15,000

-

4,977

38,293

9,635

833

3,164

1,253

-

-

-

204,074
561,448 931,421 (983,324) -
509,545

Fixed Asset Fund: This fund represents the net book value of the fixed assets.

35 | Trustees’ annual report and accounts 2021-2022

Restricted fund purpose:

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Restricted Fund Purpose
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Restricted Fund Purpose
Barrow Cadbury To provide continuation funding for the Making Devolution work for
Women Project.
Big Give To run a campaign on challenging gender norms and stereotypes
Comic Relief Power Up To fund an Equal Power campaign to get more women elected into
positions of power at national and local level.
Equal Pay Fund To fund the Equal Pay Advice Service and strategic legal work.
Ian Mactaggart To support strategic development of the organisation
Joseph Rowntree Reform Trust To fund a co-ordinated General Election Manifesto for the women’s
sector.
Joseph Rowntree Charitable Trust To fund the Equal Power project on women’s representation in local
government and in parliament.
JRSST - CT To fund research on the retention of women in parliament
Smallwood Trust (Women of Colour) To fund the Pay and Progression of Women of Colour Project.
Maltby Minerva To fund a major survey as part of the Pay and Progression of Women of
Colour project
Pacey To fund a literature review on models of childcare provision in liberal
welfare regimes
Pavers To fund a literature review on models of childcare provision in liberal
welfare regimes
Rosa To fund a project on sexual harassment in the workplace.
Women’s Budget Group To fund work on the impact of Covid on Women
Gifts in Kind To fund our google adwords activity and account management.

36 | Trustees’ annual report and accounts 2021-2022

Comparative information for the net movement in funds is as follows:

Prior year
Designated Funds
Fixed Assets
Total Designated Funds
General Funds
Restricted funds
Barrow Cadbury
Comic Relief - Power Up
Comic Relief - COVID
Equal Pay Fund
Joseph Rowntree Reform Trust
Joseph Rowntree Charitable Trust
Joseph Rowntree Charitable Trust
(CWI)
Smallwood Trust (Women of Colour)
Maltby Minerva
Rosa
Women’s Budget Group
Gifts in Kind
Total Restricted Funds
Total Funds		 At 1 April
2020
Income
Expenditure
Transfers
and
investment
gains/
(losses)
At 31 March
2021
£
£
£
£
£
7,011
-
(1,359)
-
5,652
7,011
-
(1,359)
-
5,652
194,174
774,212
(643,253)
515
325,648
4,445
14,750
(13,453)
-
5,742
74,402
100,820
(175,507)
-
(285)
-
34,908
(34,908)
-
-
203,100
664
(34,180)
-
169,584
-
42,728
(35,667)
-
7,061
-
15,000
(9,960)
-
5,040
515
-
-
(515)
-
6,736
28,285
(19,225)
-
15,796
-
1,200
(1,200)
-
-
5,252
20,377
(1,297)
-
24,332
-
14,065
(11,187)
-
2,878
-
45,000
(45,000)
-
-
294,450
317,797
(381,584)
(515)
230,148
495,635
1,092,009
(1,026,196)
-
561,448

20) Analysis of net assets between funds

Fund balances at 31 March 2022 are represented by:
Fixed assets
Current assets
Creditors: amounts falling due within one year		 Unrestricted
funds
£
4,130
374,107
(72,766)
Restricted
funds
£
-
227,550
(23,476)
2022 Total
£

4,130
601,657
(96,242)
305,471 204,074 509,545

37 | Trustees’ annual report and accounts 2021-2022

Comparative information for the analysis of net assets between fund is as follows:


ollows:
Fund balances at 31 March 2021 are represented by:
Fixed assets
Current assets
Creditors: amounts falling due within one year		 Unrestricted
funds
Restricted
funds
2021 Total
£
£
£
5,652
-
5,652
370,588
383,410
753,998
(44,940)
(153,262)
(198,202)
331,300
230,148
561,448

21) Operating lease commitments

Future minimum rentals payable under non-cancellable operating leases are as follows:

Within one year
Within two to fve years		 2022
£
18,910
-		 2021
£

18,910

-
18,910
18,910

22) Contingent assets

Total grant funding awarded as at 31 March 2022 but not yet received and recognised as income due to the recognition criteria not being met amounts to £104,239.

38 | Trustees’ annual report and accounts 2021-2022

The Fawcett Society is the UK’s leading membership charity campaigning for gender equality and women’s rights at work, at home and in public life. Our vision is a society in which women and girls in all their diversity are equal and truly free to fulfil their potential creating a stronger, happier, better future for us all.

Fawcett Society Unit 2. E.11 Rich Mix 35-47 Bethnal Green Road London E1 6LA

www.fawcettsociety.org.uk Registered charity No.1108769