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2022-12-31-accounts

2022 Annual Report

HERA (Her Equality Rights & Autonomy)

Registered Company number 05401337 Registered Charity number 1115628

Table Of Content

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Background
Achievements & Events
Mission and Vision
Board & Structure
Meet our Team
Partnerships & Collaborations
Monitoring & Evaluation
2022 Focus
Chairs Report & Summary
Financial Statement
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Background

HERA was first organised for formerly trafficked women in Belgrade, Serbia in the 1990s, (during the Yugoslav Wars of 1991 to 1999). HERA was then incorporated in the UK as a limited company and charity in 2005 and its affiliate in France, as an Association in 2014. In 2008, the first Entrepreneurship Training and Mentoring Programme was organised in London at Imperial College Business School. In 2009, Women-to-Work was renamed HERA to maintain the same name as its entrepreneurship programme in the UK.

Since that time, HERA teams have run annual Entrepreneurship & Business Training Programmes hosted by our sponsors, professional educators and skilled mentors to support the women participants from each cohort over the following year and beyond.. HERA staff and volunteers also run monthly business training seminars and workshops at our sponsors offices to provide year-round support to participants, our alumni and their mentors.

Background (continued)

In recruiting women for the programme, HERA is assisted by over 20 London and national charities as well as former students. Business women and men, professors and trainers volunteer with HERA to provide high quality, cutting edge, and innovative entrepreneurship, business and mentor training. Private sector firms, such as Salesforce and FinancialForce as well as educational partners ie Birkbeck University have sponsored HERA meetings and events.

Speakers from banks, IT, consulting, media, and manufacturing firms and universities have given their time and volunteered at HERA seminars and training sessions..

1 The first UK Entrepreneurship Training Programme was named HERA (Her Equality Rights and Autonomy) and subsequent organisers argued for bringing all the work together under this name, which was first published in a full-page article in the Financial Times (2008).

Achievements & Events

Overview

The 2022 training programme was the 14th programme hosted in the UK by HERA. The programme saw 17 women survivors graduate from the six week hybrid training course and pitch their group's business idea to a panel of judges.

For the first time ever, the training programme was in a Hybrid format – both in person and virtually and included mostly live sessions hosted over Zoom with some pre-recorded videos from speakers and partners, including Presentation skills from American Express and in person sessions at FinancialForce and Salesforce. The training ran from Monday 18 July to Friday 26 August 2022 and was predominantly taught between 10am and 3pm.

Achievements & Events

I2022 for HERA was a year of positive change and innovation to our programme offering various methods of support, including the addition of a new format and structure for the program, based on our focus on giving our students a clear path to ‘becoming financially independent’. We also started working with patterns offering work experience and training for our students to enable them further towards their goals and aspirations. We have detailed more information later in the report about such a partnership which we hope to build on in 2023/24 cohort i.e. Women in Construction.

Achievements & Events

IIn addition to the new structure, we wanted to bring in some innovation around the students well being and we worked with Tower House Horses , an organisation that strives to improve the emotional health and wellbeing of their clients, and have been established for over 10 years. since 2011. Over that period, they have positively influenced the lives of over 1000 young people and adults via their horse assisted personal development and wellbeing programmes.

2022 also saw new additions to the staffing team, who all brought experience and energy to their roles, enabling productive strategy meetings regarding the future of HERA as we move into 2023 and beyond. A key initiative was to bring in our alumni to act as volunteers and HERA ambassadors, this really helped our students as they could see themselves reflected in these women who were happy to ‘play it back’ and share their positive experiences with HERA and the program.

Achievements & Events

Personel

This summer's training programme was developed and coordinated by Uhanan Mimi, Programme Manager. The content and teaching was overseen by Joanne Chidwick, Academic Director and Trustee.

The programme was also supported by:

Achievements & Events

Events

In 2022, we have seen all our activities continue to grow as with previous years. After the summer business training programme, our students, mentors and volunteers enjoyed outdoor events.

We had a wonderful time cruising over the River Thames to Greenwich. It was a fantastic opportunity for our students to meet with their mentors in person, catch up with other students and network with HERA Alumni.

We had a wonderful Christmas party on 6th of December 2022. Students and Alumni enjoyed fun games, secret Santa, Christmas quizzes and exchanged gifts. We were lucky to be able to hold the party at our partner’s premises - Birkbeck University and Isabelle Habib who runs the Compass Programme welcomed us and joined in the celebrations.

We got an Invitation to attend Beyonce’s charity luncheon and we got some tickets to attend Beyonce’s Renaissance concert in London. During the Luncheon, We met some amazing Entrepreneurs that won the competition and invited them as inspirational speakers for our 2023 Business training programme. Finally, we had a farewell party in June for the class of 2022 before welcoming the new cohort starting the programme this year.

Vision & Mission

Vision

Empowerment of women survivors through education, capacity building and mentorship.

Providing business education through workshops and training.

Empowering women through capacity building

Personal and professional mentoring to walk alongside women

Mission

HERA empowers women survivors of modern slavery & exploitation to achieve a better life, working with business and academic mentors, to become financially independent.

Board Structure

Maninder

Michelle

Gilli Coston

Joanne Chidwick

Paul

Hammersley

Board Advisor Strategy

Chair, Board Trustee of Trustees Marketing & Comms

Treasurer

Stuart Newstead

Board Advisor Academic & Strategy

Mary Donavon Paula Gordon

Board Advisor Board Advisor Mentoring Corporate Partnerships

Meet Our Board

JOANNE CHIDWICK

CHAIR, BOARD OF TRUSTEES

Joanne has been Chair since 2019 and has championed diversity and the empowerment of women throughout her career and is known for being a passionate evangelist for marketing through a customer first approach.

MICHELLE HAMMERSLEY

TREASURER

Michelle is an experienced senior finance professional who has worked both in industry and advisory for many years. She lives in Worcestershire with her husband and family, and is a qualified Mental Health First Aider.

MANINDER PAUL

TRUSTEE

II am digital marketer with over two decades working with established companies and high growth startups. For over three years, I've been deeply committed to volunteering with HERA.

GILLI COSTON

BOARD ADVISOR - STRATEGY

Gilli Coston: Founder and Trainer of The Horsepower Partnership Limited specialising in leadership, business growth and transformation through coaching, Mentoring and active learning training

STUART NEWSTEAD

BOARD ADVISOR - ACADEMIC & STRATEGY

A digital expert for so long that he remembers when digital was called telecoms. Since 2002 he has run Ellare, an independent consultancy providing high-quality advice to all parts of the communications and digital markets.

MARY DONOVAN

BOARD ADVISOR - MENTORING

Mary has worked in the UK Civil Service for over 20 years in a variety of roles including a 3 year posting to Chile, where she learned Spanish. She has been a street outreach volunteer for the Door of Hope project in east London, which supports women on their journey out of prostitution. She has been mentoring with HERA for three years and really enjoys the teamwork and learning.

PAULA GORDON

BOARD ADVISOR - CORPORATE PARTNERSHIPS

Paula joined HERA as a Board Advisor in early 2023 to focus on extending the Corporate Fundraising partnerships, having spent her career as a Leader of Enterprise Sales Teams within the Public and NGO Sectors in Tier 1 Software Companies including Sap, Oracle and latterly Salesforce.

Meat Our Program Team

MIMI UHANAN

PROGRAM MANGER

Mimi joined HERA in April 2022 after working for the NHS and health sector for over 10 years. Mimi has an academic background in business and leadership and is currently studying for her doctorate at University of Gloucestershire, with a BSc in Economics, an MBA in Business Management.

SHELLEY SPENCE

BOARD & PROGRAM ADMINISTRATOR

I am the Board Administrator for the HERA UK. I support the work of the Chair of the Board of Trustees, Board of Trustees, and Board Advisors. I am also the digital and IT lead for the charity with the role and responsibility of supporting the IT infrastructure of the charity as this function is the life blood of our charity. My professional background is in HR Management, PM and IT Business Analysis.

STUART NEWSTEAD

ACADEMIC DIRECTOR

A digital expert for so long that he remembers when digital was called telecoms. Since 2002 he has run Ellare, an independent consultancy providing high-quality advice to all parts of the communications and digital markets.

ANDREA WEST

FUNDRAISING MANAGER

Andrea West comes to HERA having spent almost 20 years leading a number of domestic abuse, disability and rare disease charities that provided family support and advocacy both locally and nationally. She has extensive fundraising experience in both the voluntary and statutory sector and is passionate about the role that the voluntary sector can play in supporting the most vulnerable in our society.

Mentoring Program

Our mentors have been a key part of our program for the last 10 years and we have many experienced mentors who remain loyal to our current and alumni - creating a bond for life and allowing our past students to continue to serve our current cohort.

It is this community and strong bond that brings strength to the new students as they start their HERA journey

MONTHLY MENTOR CLINICS

These formed (and continue to form) a valuable feedback and supervision loop and for HERA to be on top of issues arising from mentor sessions as well as being able to spot patterns and initiate new ideas. One such example was the recurrent theme that maths advice was required by a number of students. We were able to respond to that by recruiting quickly (following appropriate DBS checks) a new volunteer skilled in teaching and in maths, Stuart N ewstead. Stuart continues to support one of the students (Nov 2021).

The sessions are confidential and a safe space to talk. Since starting these in 2020 they have been cemented into the newly updated Mentoring Recruitment and Training plan that will run in 2021. This will be run for past and new mentors.

We continue to adapt and develop the mentorship programme with an ever increasing and replenishing of mentors.

KEY SUCCESSES IN 2022

Another success with a HERA student who had been seeking leave to remain for 5 years and who was able to realise that dream this year. The student had been referred by the Salvation Army and had completed a basic accounting qualification through their sponsorship. This student became a volunteer for HERA and gained valuable experience in accounting (under the safe wing of HERA volunteer and ex-treasurer of HERA, Mr Ian Kaye). Along with mentoring and coaching, the student was able to secure two scholarships to pursue a degree in accounting. through the mentoring process she was coached to develop and deliver a budget plan and grant funding application which HERA board agreed to and she has subsequently begun her first year at university studying accounting and achieved her leave to remain status (multiple letters from HERA and her mentor to assist her application and her volunteering experience appear to move it forward and appear to have assisted in expediting her successful application. We are very happy and proud of her.

Partnerships & Collaborations

Salesforce

HERA continues to collaborate with employees from Salesforce to enhance the training programme offerings and workshops session. In 2020, HERA hosted Wednesday Wisdomʼs in Salesforce tower in February for a session on Social Media Marketing. With UK wide lockdown restrictions preventing in person workshops, Salesforce adapted their support to make the new focus for HERA. With great thanks to Yasmine Newman , a pro-bono team of 15 employees joined forces to explore the more effective way to develop an online platform for learning and community for HERA alumni and new students.

American Express

We are so lucky to have American Express as part of our corporate support group and throughout the pandemic they have been incredibly supportive. They supported our Summer Programme with workshops on presentation skills and public speaking and continue to support our Student Care Packages.

FinancialForce

FinancialForce have supported us throughout the Summer Programme and have organised venues for us to hold Wednesday Wisdoms and workshops. We even held a couple of Board meetings in their Bishopsgate offices - we look forward to a strong partnership with them moving forward. Hannah Joyce who runs their recruitment also ran a few workshops for us on personal image and body language which were very insightful and well attended by our students.

RimberioFradel and Spies Co

Monitoring & Evaluation

To ensure the continued effectiveness and suitability of our programs, HERA employs three core processes for gathering and assessing student well-being and overall satisfaction.

Student Feedback:

Student Engagement:

Mentor Feedback:

HERA organise an online gathering for mentors to connect, reflect, and exchange best practices to better support both one another and their mentees throughout the challenging year. Subsequently, we introduced regular monthly "catch-up" sessions, allowing mentors to share their experiences within the HERA mentor community and collaboratively identify areas for improvement.

This enhanced approach, featuring a consistent cadence of engagement, has had a profound impact on our students' lives, enabling us to be more proactive in providing support.

2022 Focus

As we work towards a more hybrid style working pattern, we will be taking our learnings from our students, our mentors, our partners and our Trustees to drive more innovation, efficiencies and measurement into our program.

We will be prioritising the following areas:

IT & Communications

Key achievements:

IT & Communications

Contact Us

+44 7749 638317 info@hera.international www.hera-uk.co.uk

@HEREQUALITY

WWW.FACEBOOK.COM/HEREQUALITY

WWW.LINKEDIN.COM/COMPANY/HER-EQUALITY- RIGHTS&-AUTONOMY-HERA-UK-/

@HER.EQUALITY

Chairs Report & Summary

Report of the Trustees and Unaudited Financial Statements for the year ended 31 December 2022 for Her Equality Rights and Autonomy

Chairs Report & Summary

Michelle Hache 184 Bath Rd Worcester WR5 3ER

INDEPENDENT EXAMINERʼS REPORT

TO THE TRUSTEES OF HERA – CHARITY NUMBER 1115628

I report on the Accounts and accompanying notes of the company for the year ended 31 December 2021

Respective Responsibilities of trustees and examiner

The trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2012 (the 2012 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examinerʼs statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.

Chairs Report & Summary

Independent examinerʼs statement

In connection with my examination, no matter has come to my attention:

15th October 2023

Michelle Hache

Chairs Report & Summary

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ʻAccounting and Reporting by Charitiesʼ issued in January 2015.

Reference and Administrative Details

Registered Company number: 05401337 Registered Charity number: 1115628

Registered o ice: 297 Waldegrave Road Twickenham TW1 3ST

Trustees

Joanne Chidwick, Chair (appointed XXX Michelle Hache (appointed XXX) Gilli Coston, Head of Mentoring (resigned XXX) Nikki Pierce, Head of Partnerships (resigned XXX)

Chairs Report & Summary

Objectives, activities and achievements Her Equality Rights and Autonomyʼs objectives are:

The HERA Trustees follow the Charities Commission Guidance on public benefit in carrying out our programmes and interventions in the UK and in collaboration with affiliates and partners in France, Central and Eastern Europe (note that the accounts of HERA UK affiliates are filed independently from the 2018 financial year). During 2021, HERA UK staff, volunteers, and trustees organised the following programmes to address our objectives:

Chairs Report & Summary

Statement of Trustees Responsibilities

The trustees (who are also the directors of Her Equality Rights and Autonomy for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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.

On behalf of the Board

Joanne Chidwick Chair of the Board of Trustees October 2023

Statement of financial activities 1 January 2022 to 31 December 2022

Account 2022 2021 2020 2022 in kind
Turnover
Gifts in-kind 28,550 30,925 13,667 28,550
Other Revenue 48,860 55,659 58,846
Total Turnover 77,410 86,584 72,513 28,550
Cost of Sales
Administration 0 10,000 9,688
Buildings and Facilities 25,250 2,250 2,250 25,250
Child care 1,280 0 0
Consulting/Speakers/Trainers 21,698 41,294 26,364 2,400
Food 2,541 4,154 245
Grants 2,000 0 681
Materials and supplies 8,753 9,438 6,928 900
Travel - National 4,373 0 201
Total Cost of Sales 65,895 67,136 46,357 28,550
Gross Profit 11,515 19,448 26,156 0
Administrative Costs
Audit & Accountancy fees 0 600 300
Bank Fees 141 0 0
Fund Raising 180 0 96
Insurance 108 889 770
Legal Expenses 750 0 0
Printing, Postage & Stationery 329 0 0
Other operating costs 0 684 0
Subscriptions 1,215 1,685 1,010
Currency Gains and Losses 0 1,392 0
Total Administrative Costs 2,723 5,250 2,176
Operating Profit 8,792 14,198 23,980
Profit on Ordinary Activities
Before Taxation		 8,792 14,198 23,980
Profit after Taxation 8,792 14,198 23,980

Statement of financial activities

NOTES

HERA is facing a number of financial challenges in the year, being:

To mitigate these, we have carried out the following:

Moving to a hybrid programme delivery model

We have slightly changed the year on year classification of some costs such as administration, and split out programme delivery costs between provision of facilities and provision of trainers and expertise. Accounting principles and policies however remain consistent year on year.

Funding, both in kind and in cash, is reduced from 2021 for the reasons mentioned above, with the slightly reduced cost of delivery being a combination of slightly smaller student numbers, hybrid delivery, and stringent cost control. Also the completed separation of HERA UK and HERA international has reduced volatility related to currency gains and losses. Nonetheless, retained earning, whislt still positive, have dropped year on year. The mitigating actions described above should address this, as the aim is to make enough surplus to allow the programme to expand its aims year over year.

Statement of financial activities

Balance Sheet Balance Sheet Balance Sheet Balance Sheet Balance Sheet
Her Equality Rights and Autonomy
As at 31 December 2022
Account 31 Dec 2022 31 Dec 2021 31 Dec 2020
Current Assets
Cash at bank and in hand
Total Cash at
bank and in
hand		 68,260 58,718 43,129.74
Total Current
Assets		 68,260 58,718 43,129.74
Creditors:
amounts falling
due within one
year
Accruals 750 0 0.00
Total Creditors:
amounts falling
due within one
year		 750 0 0.00
Net Assets 67,510 58,718 43,129.74
Capital and
Reserves
Current Year
Earnings		 8,792 14,198 23,980.48
Retained
Earnings		 57,326 43,129 19,148.28
Total Capital
and Reserves		 66,119 57,326 43,128.76

Chairs Report & Summary

For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companiesʼ subject to the small companiesʼ regime.

Joanne Chidwick Chair of the Board of Trustees October 2022

Financial Report

Profit and Loss

Her Equality Rights and Autonomy For the year ended 31 December 2022

Account 2022 2021 2022 in
kind
Turnover
Gifts in-kind 28,550 30,925 28,550
Other Revenue 48,860 55,659
Total Turnover 77,410 86,584 28,550
Cost of Sales
Administration 0 10,000
Buildings and Facilities 25,250 2,250 25,250
Child care 1,280 0
Consulting/Speakers/Trainers 21,698 41,294 2,400
Food 2,541 4,154
Grants 2,000 0
Materials and supplies 8,753 9,438 900
Travel - National 4,373 0
Total Cost of Sales 65,895 67,136 28,550
Gross Profit 11,515 19,448 0
Administrative Costs
Audit & Accountancyfees 0 600
Bank Fees 141 0
Fund Raising 180 0
Insurance 108 889
Legal Expenses 750 0
Printing,Postage & Stationery 329 0
Other operatingcosts 0 684
Subscriptions 1,215 1,685
CurrencyGains and Losses 0 1,392
Total Administrative Costs 2,723 5,250
Operating Profit 8,792 14,198
Profit on Ordinary Activities Before Taxation 8,792 14,198
Profit after Taxation 8,792 14,198

Balance Sheet

Her Equality Rights and Autonomy As at 31 December 2022

Account 31 Dec
2022
31 Dec
2021

Current Assets
Cash at bank and in hand
Total Cash at bank and in
hand		 68,260
58,718
Total Current Assets

Creditors: amounts falling due within one
year		 68,260
58,718
Accruals 750
0
Total Creditors: amounts falling due within
one year


Capital and Reserves		 750
0
Net Assets 67,510
58,718
Current Year Earnings 8,792
14,198
Retained Earnings 57,326
43,129
Total Capital and Reserves 66,119
57,326

Reserves Policy

The Reserves Policy is set to ensure there is no disruption of HERA’s services in the event of an unforeseen reduction in income or increase in expenditure. It also allows for contingencies aimed at the mitigation of any major risks identified that would have a financial impact should they materialise.

The Trustees have determined a requirement for freely available funds in order to fund the following:

• To maintain uninterrupted the ongoing activities of the Charity, in particular the following year’s summer programme

• To cover management, administration, fundraising and other support costs.

The Trustees believe that, in line current commitments the level of free reserves should be sufficient to cover four months’ costs, being the approximate equivalent of delivering the summer programme. At 2023 prices this equates to approximately £25,000

The level of reserves is continually monitored by the Trustees and the policy is reviewed at least every three years (next review due 2025)

The Charity works to build its reserves to the level required to meet the policy to remain sustainable, build a safer future and protect the Charity in the long term.

HERA is facing a number of financial challenges in the year, being:

1) The increasing tendency of the Home Office to move asylum seekers outside of London, causing increased costs for travel, accommoda�on and childcare for students;

2) Several mul�-year funding sources coming to and end;

3) increasing compe��on for funding, with some programmes being closed almost the day they are opened.

To mi�gate these, we have carried out the following:

1) Moving to a hybrid programme delivery model

2) Seeking both corporate partners to cover costs and strategic partners for accommoda�on

3) Strengthening the financial planning and repor�ng processes to avoid surprises

4) Taking on a dedicated fundraising manager to expand our types of funds and sources of funding

We have slightly changed the year on year classifica�on of some costs such as administra�on, and split out programme delivery costs between provision of facili�es and provision of trainers and exper�se. Accoun�ng principles and policies however remain consistent year on year.

Funding, both in kind and in cash, is reduced from 2021 for the reasons men�oned above, with the slightly reduced cost of delivery being a combina�on of slightly smaller student numbers, hybrid delivery, and stringent cost control. Also the completed separa�on of HERA UK and HERA interna�onal has reduced vola�lity related to currency gains and losses. Nonetheless, retained earnings, whilst s�ll posi�ve, have dropped year on year. The mi�ga�ng ac�ons described above should address this, as the aim is to make enough surplus to allow the programme to expand its aims year over year.

The trustees note that there are no restricted or designated funds contained in the balances above.

The board of trustees considers that there are no material uncertain�es about the organisa�on’s ability to con�nue as a going concern

Independent examiner’s report to the trustees of HERA UK

I report to the trustees on my examination of the accounts of the HERA UK for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Signed: Name: Craig Muncaster Relevant professional qualification / membership of professional bodies: FCMA Address: Albany, Port Isaac, Cornwall, PL29 3RF Date: 22/10/2023

Financial Report

Profit and Loss

Her Equality Rights and Autonomy For the year ended 31 December 2022

Account 2022 2021 2022 in
kind
Turnover
Gifts in-kind 28,550 30,925 28,550
Other Revenue 48,860 55,659
Total Turnover 77,410 86,584 28,550
Cost of Sales
Administration 0 10,000
Buildings and Facilities 25,250 2,250 25,250
Child care 1,280 0
Consulting/Speakers/Trainers 21,698 41,294 2,400
Food 2,541 4,154
Grants 2,000 0
Materials and supplies 8,753 9,438 900
Travel - National 4,373 0
Total Cost of Sales 65,895 67,136 28,550
Gross Profit 11,515 19,448 0
Administrative Costs
Audit & Accountancyfees 0 600
Bank Fees 141 0
Fund Raising 180 0
Insurance 108 889
Legal Expenses 750 0
Printing,Postage & Stationery 329 0
Other operatingcosts 0 684
Subscriptions 1,215 1,685
CurrencyGains and Losses 0 1,392
Total Administrative Costs 2,723 5,250
Operating Profit 8,792 14,198
Profit on Ordinary Activities Before Taxation 8,792 14,198
Profit after Taxation 8,792 14,198

Balance Sheet

Her Equality Rights and Autonomy As at 31 December 2022

Account 31 Dec
2022
31 Dec
2021

Current Assets
Cash at bank and in hand
Total Cash at bank and in
hand		 68,260
58,718
Total Current Assets

Creditors: amounts falling due within one
year		 68,260
58,718
Accruals 750
0
Total Creditors: amounts falling due within
one year


Capital and Reserves		 750
0
Net Assets 67,510
58,718
Current Year Earnings 8,792
14,198
Retained Earnings 57,326
43,129
Total Capital and Reserves 66,119
57,326

Reserves Policy

The Reserves Policy is set to ensure there is no disruption of HERA’s services in the event of an unforeseen reduction in income or increase in expenditure. It also allows for contingencies aimed at the mitigation of any major risks identified that would have a financial impact should they materialise.

The Trustees have determined a requirement for freely available funds in order to fund the following:

• To maintain uninterrupted the ongoing activities of the Charity, in particular the following year’s summer programme

• To cover management, administration, fundraising and other support costs.

The Trustees believe that, in line current commitments the level of free reserves should be sufficient to cover four months’ costs, being the approximate equivalent of delivering the summer programme. At 2023 prices this equates to approximately £25,000

The level of reserves is continually monitored by the Trustees and the policy is reviewed at least every three years (next review due 2025)

The Charity works to build its reserves to the level required to meet the policy to remain sustainable, build a safer future and protect the Charity in the long term.

HERA is facing a number of financial challenges in the year, being:

1) The increasing tendency of the Home Office to move asylum seekers outside of London, causing increased costs for travel, accommoda�on and childcare for students;

2) Several mul�-year funding sources coming to and end;

3) increasing compe��on for funding, with some programmes being closed almost the day they are opened.

To mi�gate these, we have carried out the following:

1) Moving to a hybrid programme delivery model

2) Seeking both corporate partners to cover costs and strategic partners for accommoda�on

3) Strengthening the financial planning and repor�ng processes to avoid surprises

4) Taking on a dedicated fundraising manager to expand our types of funds and sources of funding

We have slightly changed the year on year classifica�on of some costs such as administra�on, and split out programme delivery costs between provision of facili�es and provision of trainers and exper�se. Accoun�ng principles and policies however remain consistent year on year.

Funding, both in kind and in cash, is reduced from 2021 for the reasons men�oned above, with the slightly reduced cost of delivery being a combina�on of slightly smaller student numbers, hybrid delivery, and stringent cost control. Also the completed separa�on of HERA UK and HERA interna�onal has reduced vola�lity related to currency gains and losses. Nonetheless, retained earnings, whilst s�ll posi�ve, have dropped year on year. The mi�ga�ng ac�ons described above should address this, as the aim is to make enough surplus to allow the programme to expand its aims year over year.

The trustees note that there are no restricted or designated funds contained in the balances above.

The board of trustees considers that there are no material uncertain�es about the organisa�on’s ability to con�nue as a going concern

Independent examiner’s report to the trustees of HERA UK

I report to the trustees on my examination of the accounts of the HERA UK for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

Signed: Name: Craig Muncaster Relevant professional qualification / membership of professional bodies: FCMA Address: Albany, Port Isaac, Cornwall, PL29 3RF Date: 22/10/2023