The Fawcett Society
(A company limited by guarantee no 04600514 Registered charity no 1108769)
Report and Financial Statements For the Year Ended 31 March 2024
The Fawcett Society Contents
Contents
Legal and administrative information ................................................................................................................................. 3 Trustees’ Annual Report .................................................................................................................................................... 4 Independent Examination Report .................................................................................................................................... 14 Statement of Financial Activities for the year ended 31 March 2024 ............................................................................... 15 Balance Sheet as at 31 March 2024 ............................................................................................................................... 16 Statement of Cash Flow as at 31 March 2024 ................................................................................................................ 17 Notes forming part of the Financial Statements for the Year ended 31 March 2024 .................................................. 18-29
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The Fawcett Society Legal and administrative information
| Board of Trustees: | Harriet Harman | Chair from 10 July 2023 |
|---|---|---|
| Tanya Tunley | Chair to 10 July 2023 | |
| Karen Bradshaw | Resigned 14 October 2023 | |
| Iain Simpson | Resigned 14 October 2023 | |
| Rachel McLachlan | Resigned 27 February 2024 | |
| Tracey Fletcher | ||
| Ayesha Hazarika | ||
| Victoria Jones | ||
| Naushabah Khan | ||
| Resham Kotecha | ||
| Zahra Latif | ||
| Leanne Sheldon (Treasurer) | Appointed 14 October 2023 |
|
| Chief Executive Officer: | Jemima Olchawski | |
| Company Registration number: | 04600514 | |
| Charity registration number: | 1108769 | |
| Registered office | Unit 1.01 Wenlock Studios | |
| Wharf Road | ||
| London | ||
| N1 7EU | ||
| Independent Examination | K.C. Fisher FCA | |
| C/o Kingston Burrowes | ||
| Audit Ltd | ||
| 308 Ewell Road | ||
| Surbiton | ||
| Surrey | ||
| KT6 7AL | ||
| Accounts Preparation | ExcluServ Limited | |
| 133 Deepcut Bridge Road | ||
| Camberley | ||
| Surrey | ||
| GU16 6SD | ||
| Bankers: | Unity Trust Bank Plc | CCLA Investment Management Ltd |
| Nine Brindley Place | 80 Cheapside | |
| Birmingham | London | |
| B1 2HB | EC2V 6DZ | |
| Natwest Bank | The Charity Bank Ltd | |
| 169 Victoria Street | Fosse House | |
| London | 182 High Street | |
| SW1E 5BT | Tonbridge | |
| TN9 1BE |
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The Fawcett Society Trustees’ Annual Report 2023-24
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 discussion at Board of organisational needs and any skills gaps 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. At the outset of the year there were two subcommittees Finance, Audit and Risk and Governance. During the year these were merged reflecting progress made on updating organisational governance and process. The Equal Pay Fund Committee continues as an operational committee manged by the Executive team. 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 elected by the Board provides support to the Chair. This year we are delighted to have appointed Leanne Sheldon as Treasurer. In this role Leanne also chairs the Finance, Audit Risk and Governance Committee. During the year we said goodbye to Tanya Tunley who had been serving as interim chair. We extend our deep thanks to Tanya for all the work she did for the Fawcett Society both as Interim Chair and in her years as a trustee. We were delighted to appoint Harriet Harman MP as Chair. Harriet is the Mother of the House of Commons and joins us having decided to stand down from parliament at the next election. We are delighted to have Harriet on the team. She is a titan of the women’s movement and has a strong long-term relationship with the Society.
The Trustees are responsible for staff pay, benefits and terms and conditions. The Finance, Audit, Risk and Governance 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. In the coming year Fawcett will review our staff benefits to ensure we remain an appealing place to work and to support staff retention.
Major risks are reviewed quarterly by the full board and are also kept under review on a quarterly basis by the Finance, Audit, Risk and Governance Committee. The Board monitors impact, probability, mitigations taken and identifies any additional action required.
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The Fawcett Society Trustees’ Annual Report 2023-24
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. We are the only national organisation rooted in the suffrage movement with over 150 years of evidencebased campaigning. We focus on removing the structural and underlying causes of gender inequality.
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:
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a. Raising awareness of all aspects of discrimination in society by publications, lectures, use of the media, public advocacy, and other means of communication
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b. Conducting or commissioning research on equality and publicising the results of the same to the public;
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c. Advancing education in equality and diversity whether by teaching or producing materials;
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d. Promoting attitudes, customs, and practices in favour of equality by use of publications, media, and public advocacy.
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The Fawcett Society Trustees’ Annual Report 2023-24
Summary of activities, achievements and performance
TEAM FAWCETT
Staff
The Fawcett team is small but mighty and works hard to achieve Fawcett’s high 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.
Our CEO, Jemima Olchawski has continued to grow and strengthen our Senior Leadership Team with the creation of a new Membership Manager post to support our essential strategic work on membership growth. Laura Blackham has taken on this post and joined in February and quickly began work to implement our membership strategy.
Local Groups
The charity has 12 affiliated local groups who promote The Fawcett Society and campaign locally on gender inequality issues. Particularly notable activity this year includes East London achieving over 100 End Salary History pledges from businesses; Milton Keynes mobilising women to campaign in the local elections; and Hampshire and the Isle of Wight’s campaign to stop the opening of a new bar glamorising violence against women.
In accordance with Charities SORP, the charity does not consolidate the results of the local groups for accounting purposes.
Members
Fawcett is proud of our longstanding role connecting and bringing people and organisations together to maximise the strength of our movement. Our role in bringing together changemakers is key to advancing women’s rights; nowhere is that more vital than in our memberships. Thanks to our members, Fawcett is a dynamic movement driven by feminists committed to enacting change. Our members are vital to funding our efforts, but their contribution goes much further. They actively engage in our initiatives – from writing to their MPs, advocating for new laws to safeguard women against workplace sexual harassment, to spearheading agenda-setting campaigns within their communities. They amplify our campaigns, raise awareness and inform our strategic priorities.
Our members continued to be a force for change during the financial year 2023-24. In a challenging context for membership programmes our membership has continued to decline and is now around 2,800 from just above 3000 a year ago. Unfortunately, most departing members continued to cite budgetary constraints due to the ongoing cost of living crisis as their reason for leaving. Many in the charity sector are facing similar reductions in giving.
For those who continue their membership and who join us new, Fawcett is committed to further centring our membership in all we do. To enhance the membership experience and ensure meaningful engagement, we have invested in a dedicated membership team. This initiative aims to empower members to engage, campaign, and contribute effectively, ensuring that Fawcett continues to be a sustainable force for change.
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The Fawcett Society Trustees’ Annual Report 2023-24
Members are the heart and soul of our organisation. They not only provide essential resources but also ensure that we remain closely connected to the daily lives of women – sharing in their triumphs and addressing their challenges. We deeply appreciate all those who support and participate in our movement and we are confident we are at the start of a journey to maximise the power of that membership.
Charitable activities –
Empowering Women, Transforming Society
The past year has been a pivotal one for Fawcett, marked by critical advancements in our ongoing mission to dismantle gender inequality and champion the rights of women across the UK. Our work has spanned key areas including political power, economic equality, gender norms, and women’s rights, with each effort contributing to tangible change in society.
Below is detail on some of the impact we achieved together this year, including:
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Securing new legislation which mandates employers to prevent sexual harassment in the workplace
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The first sexism complaint upheld by the Independent Press Standards Organisation putting a strong marker down on future media coverage
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Shaping new EHRC guidance on menopause in the workplace
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Brought more attention to the Motherhood Pay Penalty
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Contributed to Labour’s proposals on tackling the ethnicity pay gap
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And another powerful Equal Pay Day
Power
Shining a Light on Political Representation
In our continued efforts to understand the barriers preventing women from attaining political power, we launched the Councillor Count on 3 April. This eye-opening report revealed the enduring male dominance in 95% of local authorities, with a mere 2% growth in female representation since 2018. The report gained widespread attention, securing 117 media features, and drew a response from Labour’s Shadow Secretary of State for Women and Equalities, Anneliese Dodds.
Our partnership with the Global Institute for Women’s Leadership at King’s College London for the All-Party Parliamentary Group on Women in Parliament, led to a comprehensive audit on recommendations to address Parliament’s gender sensitivity, presented in September to a packed room in Westminster. The audit exposed the slow progress and called for a dedicated body to drive forward gender-sensitive reforms. It’s clear that the structure of our parliament is lagging behind progress in wider society. In the coming year Fawcett will work to strengthen support for reforms that make our politics fit for the 21[st] century.
We know a General Election will be called within the next 12 months and Fawcett has led calls for a step change in the tone and culture of our politics. Our research has made clear that along with structures and practices abuse and harassment in politics are increasingly barriers to women participating on equal terms. In February we were proud to launch the Zero Misogyny pledge in partnership with Maria Miller MP as Chair of the APPG on Women in Parliament. The pledge calls for parliamentary candidates to commit to take a zero-tolerance approach to misogyny, including racist misogyny and any other forms of hate and discrimination in their campaigning and conduct.
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The Fawcett Society Trustees’ Annual Report 2023-24
The pledge was launched by Maria and our Chair Harriet Harman MP with an exclusive in the Times. Both women are trail blazers in their parties and beyond for women’s equality and came together to demand better for women in our politics going forward. As we move towards the General Election Fawcett will continue to challenge misogyny and racist misogyny in our politics and create pressure for parliamentarians and candidates to sign the pledge and improve the quality of our politics.
Money
Tackling economic inequality
This year we relentlessly focussed on research and advocacy that will change the world of work to structure it for women as equal participants, rather than expecting women to succeed in a world of work still designed for men.
In what is likely to be a general election year we are concentrating on two areas of campaign focus. The first is transforming our workplaces to make them fit for 21[st] century. This includes our campaign to make flexible work the default, protections from sexual harassment at work, strengthening pay gap reporting including with the introduction of ethnicity pay gap reporting.
On Equal Pay Day , 22 November, we highlighted the stark reality that women continue to earn, on average, £574 less per month than men due to the gender pay gap. We published a report setting out how a duty on firms to advertise jobs as flexible would contribute to narrowing the gap. We secured good coverage and good pick up from parliamentarians including a mention from Rachel Reeves in the House of Commons.
We further strengthened the evidence base for flexible working arrangements for women, with reports on women in tech, and separately fertility at work, and parents returning to work after children, focussing on how important flexibility is for retaining women. Our work on returning mothers, in partnership with Totaljobs, generated over 550 news stories, making waves in national and broadcast media.
In June we published our Ethnicity Motherhood Pay Penalty report. This project looks at the combination of the ethnicity pay gap, gender pay, and the motherhood pay gap in order to understand the differing outcomes for mothers according to their ethnicity. It looks at differences in pregnancy discrimination, parental leave and return to work accumulate, and then persist into retirement for women. It is a key part of our evidence base for recommendations on ethnicity pay gap reporting, flexible working, and culturally appropriate childcare. The report was well received and has shaped public thinking on compound disadvantage, as well as a ‘whole systems’ approach to levelling the playing field for working mothers.
As part of our campaign to make ethnicity pay gap reporting mandatory, in January we published a report on the Ethnicity Gender Pay Gap, highlighting that women of Bangladeshi and women of Pakistani heritage have a mean pay gap of over 25% compared to white men. We also volunteered at the Ethnicity Pay Gap Summit, supporting our sister campaign organisation, on this important issue. We were delighted to have contributed to Labour’s proposals for a new Race Equality Act which included commitment to Fawcett campaigns on dual discrimination and ethnicity pay gap reporting.
In a major legislative win, we secured the passing of the Workers Protection Act, a landmark law requiring employers to prevent sexual harassment in the workplace. This law requires employers to prevent sexual harassment from happening in their workplaces and moves us from a culture of redress to one of prevention. We mobilised members to send over 500 letters to their MP to date and led a letter with the TUC, signed by 25 organisations calling on government to continue to prioritise the legislation when it was at risk of failing due to a lack of time made available.
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The Fawcett Society Trustees’ Annual Report 2023-24
Whilst this is a significant step forwards, we continue to campaign for further strengthening these laws to ensure that they cover the most vulnerable workers and are backed by both public awareness campaigns and strong enforcement.
Our second priority for the general election is childcare reform. We are a proud, founding member of the Early Education and Childcare Coalition, and have worked closely with them to shape the debate on the need for childcare reforms, and for the public debate to avoid pitting the interests of mothers, and the interests of children, against each other.
Building on our previous research on how other countries have reformed their childcare systems, this year we have undertaken an ambitious project speaking to experts in five countries with some similar characteristics to the UK (Australia, Canada, Estonia, France, and Ireland) about their practical experiences and challenges in changing their childcare systems – with the aim of providing a blueprint for an ECEC system which is not only fit for purpose, but fit for the future. We published the first part of this project, based on an analysis of what is failing in the UK system and a review of the five countries in December – and hope to launch the final version including our recommendations for reforms in England early in the next financial year. This work has kindly been supported by the Joseph Rountree Foundation and Hogan Lovells.
We continue to ensure that our research leads to meaningful change in workplace practice. Our 2022 report on the menopause shaped new Equality and Human Rights Commission guidance on menopause in the workplace, underscoring our commitment to transforming the world of work for women.
Gender Norms and Stereotypes: Challenging the Status Quo
Whilst gender norms continue to pervade society, we continue to challenge limiting stereotypes about what women can be. Our Equal Play campaign, supported by Wates Group, empowered parents, caregivers, and educators to challenge gender stereotypes in children, by providing practical tips and resources alongside a series of online events featuring influential speakers including Elliott Rae, Anne-Marie Imafidon MBE, Yasmin Qureshi MP, Helen Hayes and Joss Cambridge-Simmons. Our events reached nearly 1,000 participants, and we had over 226,000 engagements on social media.
On the other side of the coin, we made history by becoming the first organization to have a complaint upheld by the Independent Press Standards Organisation (IPSO) for sexism , following Jeremy Clarkson’s derogatory article about Meghan Markle. This victory in partnership with the Wilde foundation was a triumph for all who demand respect and equality for women. The decision by IPSO makes clear to editors that time is up on misogyny in our press, and they will be held to a higher standard from now on.
Women’s Rights: Advancing Protections and Representation
Women’s rights in the UK continue to be under threat. This year we’ve focussed on identifying the public services which are causing harm to women, and the changes needed to make women feel safe and respected.
Recent investigations, particularly following the death of Sarah Everard, has shone a spotlight on how misogyny in policing has contributed to violence against women and girls, rather than protecting them from it. We hosted an online event on 12 May to discuss women’s experience of policing, a panel discussion chaired by our CEO and featuring Andrea Simon (End Violence Against Women Coalition) and Dr Wanda Wyporska (Black Equity Organisation). Nearly 200 women joined us for the event, with strong positive feedback from both members and non-members. Following this we met with the Metropolitan Policy Commissioner Mark Rowley alongside partners (Agenda, Runnymede and Muslim Women’s Network) to discuss the Met’s turnaround strategy and concrete commitments to change .
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The Fawcett Society Trustees’ Annual Report 2023-24
As part of our journey to becoming anti racist, we are committed to centering the experiences of women of colour in our research, analysis and advocacy. We contributed to the report of the Anti Islamophobia Working Group, founded and led by Anisa Mahmood, alongside partners including Islamic Relief, Hope not Hate, The Muslim Cultural Heritage Centre and the Aziz Foundation. The report called for greater awareness of Islamophobia, with stronger accountability for hate, as well as specific recommendations for fostering understanding and countering anti-Muslim bias. Our contribution called for an explicit need for intersectional data and analysis to support understanding of the experiences of Muslim women, and how misogyny and islamophobia intersect. The report was presented to Downing Street.
Additionally, Fawcett and Black Equity Organisation (BEO) partnered to research the institutional harms caused to women and girls, particularly Black women and girls, across our public services and to reimagine a feminist, anti-racist and anti-discriminatory model for public services. In 2022-23 we researched Black women’s experiences across three themes – mental health, policing and education – through a literature review and an advisory panel made up of black women who had experienced discrimination in public services. We look forward to publishing the report next year.
Our report on misogyny in medicine, produced in partnership with Benenden, also centred the voices of women with lived experiences of harm, in this case the gender health gap. Our report, featuring stories from six women who had been let down by the medical profession, resonating with countless women and sparking widespread media coverage.
Additionally, we continued our long-standing campaign to reform abortion law in the UK. This took on new urgency after a mother of three was sentenced to prison for having an abortion. Fawcett led a march alongside BPAS from the Royal Courts of Justice to Westminster to demand the decriminalisation of abortion. We will continue to demand action from politicians of all parties to reform our outdated abortion laws, following the General Election.
A new strategy
This year Fawcett has worked on a new strategy to shape our work in the coming five years. The new strategy draws on our learning from the existing strategy both from where we’ve been able to drive change and where the journey has been more challenging. Importantly it is being developed in partnership with grassroots community groups and an advisory group of women with a range of experiences of sexism and inequality. The strategy will build on Fawcett’s strengths in convening across the range of issues impacting women and shaping the national policy and media debate. It will refresh our areas of focus to ensure we maximise our impact in shaping policy under a new government, while also shaping the feminist debate and policy agenda that are vital to driving long-term change.
Through this process we have built on the work we have done on becoming anti-racist over the past 18 months. This has been an important journey for us as an organisation of learning and reflecting on how racism has shaped our society, and our work. We committed to a programme of work to move us closer to our ambition of being anti-racist and will share more information as part of the strategy launch later this year. We acknowledge that we have not and will not always get this right, but we are committed to learning from and taking responsibility for our mistakes and actively challenging the racism that persists in our society. We are grateful for the support we have had from external experts in working with staff and trustees to develop our approach to this important issue.
The new strategy will put women’s voices and members at its heart ensuring we strengthen that vital connection so that Fawcett is strong and thriving in a powerful feminist community. We look forward to launching it in Autumn 2024.
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The Fawcett Society Trustees’ Annual Report 2023-24
REACH AND PROFILE
Fawcett works to shape the public conversation on gender equality and women’s rights. We continue to have broad reach across a range of outlets and are regularly approached for comment on issues as diverse as men-only membership clubs to misogyny and policing. This work is an important part of our mission to ensure the drivers of women’s inequality and its persistence in our society are understood. 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 the Today programme, Sky News, BBC News, Stylist and Telegraph. Our social media profile remains strong and an important way for us to reach wider audiences and connect with our community.
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 our CEO giving the Annual Lecture to the Stefan Cross centre for Women, Equality and Law, to our Head of Policy, Research and Advocacy providing Oral Evidence to the Women and Equalities Select Committee Inquiry on Sexism and the City, Fawcett continues to use our platform to speak up for the issues impacting women and girls to those in positions of power.
Social media
Our social media presence has seen some significant growth and positive trends over the past year. On Twitter, our following has increased to 69.5k, up by 1,200 followers since the last report, which is notable given the stagnant growth seen by many brands. On Instagram, we've experienced substantial growth, with our follower count rising to 15.9k, an increase of 2,400 followers.
LinkedIn has emerged as our fastest-growing platform, with our followers increasing by 3,382 to 11,782. Content impressions have remained consistent with last year’s performance. Meanwhile, our Facebook following has remained stable at 18k followers. Overall, these trends indicate a strong performance in both reach and engagement across our key platforms, driven by strategic content and increased activity.
INCOME GENERATION
Fundraising
The funding environment is increasingly tight for charities of all types. This is particularly true for organisations focusing on gender equality and women’s rights. Fawcett is ambitious for our future and know we have to maximise our strength and sustainability to ensure we can achieve our strategic goals. We have developed a long-term sustainability plan, with a focus on diverse sources of income to ensure Fawcett remains a force to be reckoned with. At the heart of this is investment in re-growing our membership – it is at the heart of who we are as an organisation and essential to financial strength and independence.
We are a membership organisation. Our members bring energy to our organisation, they are essential to our campaigns, they are our connection to women’s everyday lives. A strong membership is at the heart of our approach to maximising out strength, both in terms of financial resources and as a movement. Trustees have taken the decision to use reserves to invest strategically to strengthen our membership programme and maximise the power of our movement. We are investing in a new brand and website to support a step change in our membership recruitment and retention.
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The Fawcett Society Trustees’ Annual Report 2023-24
We have recruited a new team and begun an exciting programme of work to shift our organisation to becoming member-first with the experience and voice of members at the heart. Over time our ambition is to increase the proportion of our income that comes from membership and to re-grow our overall income levels. Our reach and impact remain second to none and we are confident that with our funding partners, strategic vision and talented team we can achieve this so that Fawcett will be stronger than ever.
We continue to secure a substantial proportion of our income from trusts and foundations. In this year we received both restricted and unrestricted funding from trusts and foundations to a total of £115k. This is down on the £197k secured in the previous year and reflects the end of multi-year grants secured a number of years ago. Across the sector grants for work on women’s equality have become rarer and so more competitive. This has created challenges for a number of organisations.
Despite these challenges we are confident about Fawcett’s financial future. Our approach to financial security is multi-pronged. Our corporate partnerships remain strong, generating £103k in corporate donations and commercial participation income. This is in line with £110k in the previous year. Alongside impactful strategic partnerships such as our work on the health gap with Benenden this also reflects fees for speaking events and consultancy. We have established the Fawcett Employers’ Network as a way for employers committed to supporting women's equality at work to support our campaigns and ensure they have the most current research and best practice to inform their approach. This work brings vital resource and supports our work to shape employer practice and make the case for wider change.
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 at least three months of expenditure. Funds at the balance sheet date were £413k (£546k 2023). Of these funds, £138k represents restricted funds (£160k 2023) and £275k is unrestricted (£385k 2023). Of this, £275k forms our free reserves, this represents 4.5 months of 2024-25’s total budgeted expenditure and so is within our reserves policy of 3 months. As noted above trustees have made the decision to invest some of these reserves in the coming financial year in order to ensure the Society continues to thrive.
We expect to start to see the results of our investment and focus on growing our membership through that year and project to end the coming financial year within our reserves policy of 3 months costs.
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The Fawcett Society Trustees’ Annual Report 2023-24
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:
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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 2019 (FRS 102);
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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;
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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.
As far as the Trustees are aware:
there is no relevant auditable information of which the charitable company’s auditor is unaware; and the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
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 Part 15 of the Companies Act 2006.
Signed on behalf of the Board of Trustees
Harriet Harman, Chair Date: 3 October 2024
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The Fawcett Society Independent Examiner’s Report to the Trustees of Fawcett Society
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are set out on pages 15 to 29.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the 20211 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW. Which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
K.C. Fisher FCA C/o Kingston Burrowes Audit Ltd 308 Ewell Road Surbiton Surrey KT6 7AL Date : 3 October 2024
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14
The Fawcett Society Statement of Financial Activities (incorporating income and expenditure account) for the year ended 31 March 2024
| Notes Income and endowments from: Donations and legacies 2 Charitable activities 3 Other trading activities 4 Investment income 5 Other income 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 17 Total funds carried forward |
Unrestricted funds Restricted funds Total 2024 Total 2023 £ £ £ £ 322,987 125,378 448,365 598,468 21,029 - 21,029 6,948 73,793 - 73,793 84,857 6,039 - 6,039 3,331 755 410 1,165 - |
|---|---|
| 424,603 125,788 550,391 693,604 |
|
| 69,163 - 69,163 74,130 491,479 122,951 614,430 583,102 |
|
| 560,642 122,951 683,593 657,232 |
|
| (136,039) 2,837 (133,202) 36,372 |
|
| 25,243 (25,243) - - - - - - |
|
| (110,796) (22,406) (133,202) 36,372 |
|
| 385,729 160,188 545,917 509,545 |
|
| 227,933 137,782 412,715 545,917 |
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 18 to 29 form part of these financial statements.
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15
The Fawcett Society Balance Sheet as at 31 March 2024 (Company number 04600514, registered Charity number 1108769)
| As at 31 March | As at 31 March | ||
|---|---|---|---|
| 2024 | 2023 | ||
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Tangible assets | 14 | 3,052 | 2,623 |
| CURRENT ASSETS | |||
| Debtors | 15 | 62,375 | 42,688 |
| Cash at bank and in hand | 407,024 | 549,840 | |
| 469,399 | 592,528 | ||
| CREDITORS: due within one year | 16 | (59,736) | (49,234) |
| Net Current Assets | 409,663 | 543,294 | |
| Net Assets | 412,715 | 545,917 | |
| FUNDS | |||
| Restricted funds | 17 | 137,782 | 160,188 |
| Unrestricted funds: | |||
| Designated funds | 17 | 3,052 | 42,819 |
| General funds | 17 | 271,881 | 342,910 |
| TOTAL FUNDS | 412,715 | 545,917 |
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 3 October 2024 and signed on their behalf by:
Harriet Harman, Chair
The notes on pages 18 to 29 form part of these financial statements.
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16
The Fawcett Society Cashflow Statement for the year ended 31 March 2024
| 2024 2023 £ £ Net cash flow from operating activities (147,115) (18,325) Cash flow from investing activities Payments to acquire tangible fixed assets (1,740) (792) Interest received 6,039 3,331 Net cash flow from investing activities 4,299 2,539 Net increase / (decrease) in cash and cash equivalents (142,816) (15,786) Cash and cash equivalents at 1 April 2023 549,840 565,626 Cash and cash equivalents at 31 March 2024 407,024 549,840 Cash and cash equivalents consists of: Cash at bank and in hand 407,024 549,840 Cash and cash equivalents at 31 March 2024 407,024 549,840 Reconciliation of net income / (expenditure) to net cash flow from operating activities 2024 2023 £ £ Net income / (expenditure) for year / period (133,202) 36,372 Interest receivable (6,039) (3,331) Depreciation and impairment of tangible fixed assets 1,311 2,299 (Increase) / decrease in debtors (19,687) (6,657) Increase / (Decrease) in creditors 10,502 (47,008) Net cash flow from operating activities (147,115) (18,325) |
2024 2023 £ £ (147,115) (18,325) (1,740) (792) 6,039 3,331 |
|---|---|
| 4,299 2,539 |
|
| (142,816) (15,786) 549,840 565,626 |
|
| 407,024 549,840 |
|
| 407,024 549,840 |
|
| 407,024 549,840 |
|
Net income / (expenditure) for year / period Interest receivable Depreciation and impairment of tangible fixed assets (Increase) / decrease in debtors Increase / (Decrease) in creditors Net cash flow from operating activities |
|
| (147,115) (18,325) |
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17
The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
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:"
- the requirements of Section 6, Statement of Changes in Equity.
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.
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.
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
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 - 25% straight line Website costs - 25% to 50% straight line
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.
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
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.
2) Donations and legacies
| Grants and Trusts Membership and Donations Legacy Analysis of Grant and Trust Donations Arnold Clark Audit of Audits Barrow Cadbury - Public Harms Barrow Cadbury Trust Esmee Fairbairn Foundation Joseph Rowntree Charitable Trust JRF ECEC Kiawah Trust Rosa Smallwood Trust The Big Give Trust Ltd The Sisters Trust |
Unrestricted Restricted Total 2024 Total 2023 £ £ £ £ - 115,378 115,378 196,614 322,987 10,000 332,987 386,854 - - - 15,000 |
|---|---|
| 322,987 125,378 448,365 598,468 |
|
| - - - 2,000 - 2,000 2,000 - - 29,700 29,700 - - (200) (200) 35,250 - - - 73,000 - - - 36,575 - 45,694 45,694 - - - - 15,000 - 7,000 7,000 - - 31,184 31,184 13,241 - - - 9,477 - - - 12,071 |
|
| - 115,378 115,378 196,614 |
Income from donations and legacies was £448,365 (2023: £598,468) of which £125,378 (2023: £66,968) was attributable to restricted and £322,987 (2023: £531,500) was attributable to unrestricted funds.
3) Charitable activities
| Unrestricted | Restricted | Total 2024 | Total 2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Awareness-Raising Activities | 21,029 | - | 21,029 | 6,948 |
| 21,029 | - | 21,029 | 6,948 |
All income from charitable activities was unrestricted for the current and prior year.
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
4) Trading activities
| ) Trading activities | |
|---|---|
| Fundraising events Fawcett Shop Commercial Participation Sponsorship and contract |
Unrestricted Restricted Total 2024 Total 2023 £ £ £ £ 5 - 5 107 890 - 890 2,110 27,398 - 27,398 20,540 45,500 - 45,500 62,100 |
| 73,793 - 73,793 84,857 |
All income from trading activities was unrestricted for the current and prior year.
5) Investment Income
| ) Investment Income | |
|---|---|
| Bank interest | Unrestricted Restricted Total 2024 Total 2023 £ £ £ £ 6,039 - 6,039 3,331 |
| 6,039 - 6,039 3,331 |
All income from investment income was unrestricted for the current year.
6) Raising funds
| By Function: Staff Costs Other Costs By Activity: Costs of Donations and Legacies Costs of Trading Activities |
Unrestricted Restricted Total 2024 Total 2023 £ £ £ £ 30,002 - 30,002 56,867 39,161 - 39,161 17,263 |
|---|---|
| 69,163 - 69,163 74,130 |
|
| 68,558 - 68,558 73,718 605 - 605 412 |
|
| 69,163 - 69,163 74,130 |
All costs for raising funds were unrestricted for the current and prior year.
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
7) Analysis of expenditure on charitable activities
| Current Year Money Power Gender norms & stereotypes Women's rights |
Direct Staff costs Direct Costs Support costs Total 2024 Total 2023 £ £ £ £ £ 105,270 65,812 67,231 238,313 178,937 56,763 28,736 36,252 121,751 197,703 58,359 31,069 37,272 126,700 97,507 52,109 42,276 33,280 127,665 108,956 |
|---|---|
| 272,501 167,894 174,035 614,430 583,102 |
Expenditure on charitable activities was £614,430 (2023: £583,102) of which £122,951 (2023: £112,753) was attributable to restricted funds and £491,479 (2023: £470,349) was attributable to unrestricted funds.
8) Governance costs
| Unrestricted | Restricted | Total 2024 | Total 2023 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Independent examination | 1,998 | - | 1,998 | 3,600 |
| Trustee expenses | 135 | - | 135 | 156 |
| AGM Expenses | 9,455 | - | 9,455 | 7,009 |
| Bank Charges | 621 | - | 621 | 606 |
| Other | 20,679 | - | 20,679 | 33,842 |
| 32,888 | - | 32,888 | 45,213 |
All governance costs were unrestricted for the current and prior year.
9) Allocation of support costs
| Current Year Governance Staff costs Finance Information technology Human resources Administration Depreciation Office costs (incl. rental) |
Money Power Gender norms & stereotypes Women's rights Total 2024 Total 2023 £ £ £ £ £ £ 12,705 6,851 7,043 6,289 32,888 45,213 10,959 5,909 6,076 5,425 28,369 55,097 21,766 11,737 12,067 10,774 56,344 17,156 5,942 3,204 3,294 2,941 15,381 37,964 5,796 3,125 3,213 2,869 15,004 24,031 1,529 824 848 757 3,958 6,493 506 273 281 251 1,311 2,299 8,028 4,329 4,450 3,974 20,780 37,360 |
|---|---|
| 67,231 36,252 37,272 33,280 174,035 225,613 |
*Support cost allocation is based on the total spend, consistent with the use of resources.
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
| Prior Year Governance Staff costs Finance Information technology Human resources Administration Depreciation Office costs (incl. rental) |
Money Power Gender norms & stereotypes Women's rights Total 2023 £ £ £ £ £ 10,108 16,220 9,956 8,929 45,213 12,318 19,765 12,133 10,881 55,097 3,837 6,155 3,778 3,388 17,158 8,487 13,619 8,360 7,497 37,963 5,373 8,621 5,292 4,746 24,032 1,452 2,329 1,430 1,282 6,493 514 825 506 454 2,299 8,352 13,401 8,227 7,378 37,358 |
|---|---|
| 50,441 80,935 49,682 44,555 225,613 |
10) Net Income
Net income for the year is stated after charging:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation | 1,311 | 2,299 |
| Independent examination | 3,000 | 3,600 |
| Operating lease rentals | 16,422 | 23,430 |
11) Staff costs
| The total staff costs and employee’s benefits was as follows: Salaries Social Security Costs Pension Costs Staff Redundancy costs Staff costs split: Charitable Activities Generating Funds Support |
Total 2024 Total 2023 £ £ 310,005 289,377 26,841 26,060 14,703 14,352 - 19,487 |
|---|---|
| 351,549 349,276 |
|
| 272,499 211,658 30,002 56,867 49,048 80,751 |
|
| 351,549 349,276 |
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
The average monthly number of employees and full time equivalent (FTE) during the year/period was as follows:
| Direct Activities Support Costs of generating funds |
2024 2023 Number Number 7.1 5.6 1.3 2.1 0.8 1.5 |
|---|---|
| 9.2 9.3 |
The following number of employees received a gross salary between the below bands during the year:
| Band | 2024 | 2023 |
|---|---|---|
| £60,000 to £69,999 | 1 | 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 2024 - The Chief Executive Officer. The total amount of employee benefits received by the Chief Executive Officer was £80,346 (2023 - £77,769). Under FRS 102, employee benefits include gross salary, benefits in kind, employer's national insurance and employer's pension contributions.
The rest of the key management personnel are trustees and receive no remuneration for their work.
One member of the Executive Committee received reimbursements of £135 for expenses for travel and subsistence.
12) Related Parties
There were no related party transactions in the current and prior year.
13) Indemnity Insurance
During the year, £1,000 (2023: £1,000) 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.
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
14) Tangible Fixed Assets
| Cost: At 1 April 2023 Additions At 31 March 2024 Accumulated Depreciation: At 1 April 2023 Charge for the year At 31 March 2024 Net book value: At 1 April 2023 At 31 March 2024 |
Office Equipment Computer equipment Computer Software Total £ £ £ £ 1,577 33,306 22,801 57,684 - 1,740 - 1,740 |
|---|---|
| 1,577 35,046 22,801 59,424 |
|
| 1,577 30,683 22,801 55,061 - 1,311 - 1,311 |
|
| 1,577 31,994 22,801 56,372 |
|
| - 2,623 - 2,623 |
|
| - 3,052 - 3,052 |
15) Debtors
| Accounts Receivable Prepayments Accrued Income Rental Deposit |
31-Mar-24 31-Mar-23 £ £ 36,223 4,545 16,959 17,723 8,000 19,227 1,193 1,193 |
|---|---|
| 62,375 42,688 |
16) Creditors: Amounts falling due within one year
| Trade Creditors Accruals PAYE Payable Pension Contributions |
31-Mar-24 31-Mar-23 £ £ 20,931 15,251 30,555 23,851 8,250 8,031 - 2,101 |
|---|---|
| 59,736 49,234 |
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
17) Statement of Funds
| Current Year Designated Funds Fixed Assets Virgin Media O2 Total Designated Funds General Funds Restricted funds Arnold Clark Global Institute for Women in Leadership Barrow Cadbury Barrow Cadbury - Public Harms Big Give - Equal Play Equal Pay Fund Hogan Lovell Childcare Ian Mactaggart JRF ECEC JRSST-CT Rosa Smallwood Trust ((Broken Ladders and Ethnic Motherhood Pay Penalty) Smallwood Trust (Experts by Experience) Maltby Minerva Pacey Pavers Total Restricted Funds Total Funds |
At 1 April 2023 Income Expenditure Transfers and investment gains/(losses) At 31 March 2024 £ £ £ £ £ 2,623 - 429 - 3,052 40,196 2,500 (36,054) (6,642) - |
|---|---|
| 42,819 2,500 (35,625) (6,642) 3,052 342,910 422,103 (525,017) 31,885 271,881 2,000 - - (2,000) - - 2,410 (1,764) (646) - 15,000 (200) (834) (13,966) - - 29,700 (20,526) - 9,174 12,737 - (5,736) (7,001) - 109,868 - (14,916) - 94,952 - 10,000 (10,132) 132 - 10,768 - (10,809) 41 - - 45,694 (41,623) - 4,071 - - (669) - (669) 7,000 - - 7,000 - - (2,163) 2,163 - 5,849 31,184 (13,779) - 23,254 833 - - (833) - 2,522 - - (2,522) - 611 - - (611) - |
|
| 160,188 125,788 (122,951) (25,243) 137,782 |
|
| 545,917 550,391 (683,593) - 412,715 |
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
| Restricted Fund | Purpose |
|---|---|
| Global Institute of Womens Leadership To support the launch of the Audit of Audits – Fawcett, GIWL and APPG for Women in Parliament review on progress in creating a gender sensitive parliament Arnold Clark To provide funding for the Equal Play campaign which supports parents, care givers and influential adults to challenge gender stereotypes with their children. Barrow Cadbury To help with the core costs of the organisation Barrow Cadbury - Public Harms To highlight black and minoritised women’s experience of harm in public services Big Give - Equal Play To provide funding for the Equal Play campaign which supports parents, care givers and influential adults to challenge gender stereotypes with their children. Equal Pay Fund To fund the Equal Pay Advice Service and strategic legal work. Hogan Lovell Childcare To support research on childcare reform Ian Mactaggart To support strategic development of the organisation JRF ECEC To support research on childcare reform JRSST-CT To build a network of parliamentary allies Rosa To support cross organisational campaigning during the General Election Smallwood Trust ((Broken Ladders and Ethnic Motherhood Pay Penalty) To fund the Pay and Progression of Women of Colour Project. Smallwood Trust (Experts by Experience) To enable direct working with networks and organisations supported by Smallwood's place-based work to centre the voices of women directly impacted by the issues they campaign on 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 |
|
| Designated Fund | Purpose |
| Fixed Asset Fund This fund represents the net book value of the fixed assets. Virgin Media O2 To fund a research project into women in technology |
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
Comparative information for the net movement in funds is as follows:
| At 1 | Transfers and | At 31 | |||
|---|---|---|---|---|---|
| April | Income | Expenditure | investment | March | |
| 2022 | gains/(losses) | 2023 | |||
| Prior Year | |||||
| £ | £ | £ | £ | £ | |
| Designated Funds | |||||
| Fixed Assets | 4,130 | - | (1,507) | - | 2,623 |
| Virgin Media O2 | - | 42,100 | (1,904) | - | 40,196 |
| Total Designated Funds | 4,130 | 42,100 | (3,411) | - | 42,819 |
| General Funds | 301,341 | 584,537 | (541,069) | (1,899) | 342,910 |
| Restricted funds | |||||
| Arnold Clark | - | 2,000 | - | - | 2,000 |
| Barrow Cadbury | - | 35,250 | (20,250) | - | 15,000 |
| Big Give - Equal Play | 4,484 | 9,477 | (1,224) | - | 12,737 |
| Equal Pay Fund | 126,435 | - | (16,567) | - | 109,868 |
| Esmee Fairbairn Fdn | 7,000 | (8,280) | 1,280 | - | |
| Ian Mactaggart | 15,000 | - | (4,232) | - | 10,768 |
| Joseph Rowntree Charitable Trust | 4,977 | - | (4,977) | - | - |
| JRSST-CT | 38,293 | - | (38,293) | - | - |
| Smallwood Trust ((Broken Ladders and Ethnic Motherhood Pay Penalty) |
9,635 | - | (10,254) | 619 | - |
| Smallwood Trust (Experts by Experience) | 13,241 | (7,392) | - | 5,849 | |
| Maltby Minerva | 833 | - | - | - | 833 |
| Pacey | 3,164 | - | (642) | - | 2,522 |
| Pavers | 1,253 | - | (642) | - | 611 |
| Total Restricted Funds | 204,074 | 66,968 | (112,753) | 1,899 | 160,188 |
| Total Funds | 509,545 | 693,605 | (657,233) | - | 545,917 |
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The Fawcett Society Notes to the Financial Statements for the year ended 31 March 2024
18) Analysis of net assets between funds
| Fund balances at 31 March 2024 are represented by: Fixed assets Current assets Creditors: amounts falling due within one year |
Unrestricted funds Restricted funds Total £ £ £ 3,052 - 3,052 316,987 152,412 469,399 (45,106) (14,630) (59,736) |
|---|---|
| 274,933 137,782 412,715 |
Comparative information for the analysis of net assets between fund is as follows:
| Fund balances at 31 March 2023 are represented by: Fixed assets Current assets Creditors: amounts falling due within one year |
Unrestricted funds Restricted funds Total £ £ £ 2,623 - 2,623 428,576 163,952 592,528 (45,470) (3,764) (49,234) |
|---|---|
| 385,729 160,188 545,917 |
19) Operating lease commitments
Future minimum rentals payable under non-cancellable operating leases are as follows:
| Within one year Within two to five years |
2024 2023 £ £ 4,517 2,760 - - |
|---|---|
| 4,517 2,760 |
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