TPbe
HonorcLry
Treasurers
FonLm
ANNUAL REPORT AND ACCOUNTS
2022

TRUSTEE5 ANNUAL REPORT
For the year ended 31" December 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Name:
The HonoraryTreasurers Forum {Yhe Forum")
Charity Re8iStration
Number".
1118802
Trustees:
BRUCE GORDON, CHAIRMAN
HEATHER LAMONT
PROFESSOR PAUL PALMER
GRAHAM SPOONER
NICOLA SILVERLEAF. HONORARY TREASURER
DAVID ROWE
Chief Executive:
RICHARD WILLIAMS
Principal Office and Administrative Address:
clo CENTRE FOR CHARITY EFFECTIVENESS
BAYES BUSINESS SCHOOL (FORMERLY CASS}
106 BUNHILL ROW
LONDON ECIY 87Z
Independent Examiner=
SIMON MOLLErr. PhD. ACA {Re-appointed 27th March
2023)
Bankers:
THE CO-OPERATIVE BANK

CHAIRMAN'S OVERVIEW
The Honorary Treasurers Forum is the primary source of professional development and sharing of
ideas, challenges and solutions for Treasurers and Chairs of Finance Committee5. The Forum is the
only org3nisation that focuses wholly on the needs of the Trustees who assist directly in f inancial
matters, supporting them to enhance their conf idence and helping them to be better at what thev
In 2022, with the impact of Covid diminishing. but with increased cost and rising inflation, the
Forum maintained its transformation to a hybrid mix of events.
During 2022 we again held ten events with two, the summer reception hosted by Rathbones, 2
corporate member, and the annual investment market overview by our sponsor UBS, returnin8 to
face-to-face. The schedule of events provided practical support and access to resources that
enable Treasurers to carry out their vital role. The WhatsApp group continued to grow with most
new Forum members opting to take part. This vibrant and valued channel of communications has
been very attive over the year, providing advice. guidance and views on a host of queries and
comments on issues that impart on the Treasurerf5 function. The website continues to be
frequently accessed, making available for download free resources such the ever-popular
Treasurers Handbook and summaries and presentations of the virtual events that have taken
place. Members can also ask for recordings of the virtual events whenever possible. The
transforrnation into a digitally focused organi53tion has Meant that our overhead eosts have been
contained and 3Ctivity has been focused on the needs of the growing membership.we are very
grateful for the continued sponsorship from UBS, who have maintained their support despite all
the uncertainties. We also much appreciate the support of our 24 corporate members, who are
listed on our website and feature regularty in our 6 weekly member and non-member email
newsletter.. a number ran both our virtual and face-to-face events. We are a5s0 especially grateful
to the eminent spe3kers who gave their time and expertise and without whom we wouldn't be
able to provide such a successful and interesting programme of events.
Richard Williams. CEO, continued the development of the Forum and maintained progress. He
receives a modest payment for his service which does not reflect the additional time he spends,
effettively as a volunteer, that has enabled the Forum to maintain its growth. We estimate that at
his usual rate this would have again amounted to an additional £10,000.
Membership showed modest growth of 7% since January 2022, a 77% increase Since July 2020
when new membership recruitment initiatives were introduced. Forum Members now support
just over 750 charities 40% of which have 3n income of over £IOO,OW. The WhatsApp group has
138 members and, with 24 corporate members. the financial position has stabilised, despite an
increzse in administration costs as we moved from volunteer support to a part-time contr3Ct. The
individual membership. corporate membership and the vital UB5 sponsorship ha5 helped us to
provide support, advi￿, and a vibrant community to our members in an increasingly uncertain
and difficult operating environment.

Our member and non-member newsletter distribLrtion increased to over 1.900 subscribers and we
have progressed the collettion of more data on the reach and impact of the Forum members.
I would like to thank my fellow Trustees and volunteers for the time, help and support they have
given the Forum in a difficult year for all. I would especialty like to thank Nicola Silverleaf our
Treasurer, Helen Goodchild our previous volunteer administrator and R02 Bott our current
administrator for their enthusiasm and loyalty and to thank Richard Williams for his commitment
and
pport in maintaining the Forum at its new level.
Bruce Gordon
Chairman
12" June 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT
The Honorary Treasurers Forum is a charity governed by a Trustee Deed dated 19 March 2007.
Its object is:
"to Gdv(Jnce the educotion infinanciol monogement of those who ore responsiblefor those looking
uftercharities'finonces."
Membership of the Forum is open to all Treasurers and those Trustees principalw responsible for
the finance in the voluntary sector.
The organisation strutture of the Forum is simple. The Trust Deed requires there to be at least
three Trustees and no more than ten. At the end of 2022 we had six Trustees supported by a
part-tirne Chief Executive and a small number of volunteers. The Trustees meet routinely as a
8oard at least four times 3 year. when strategic decisions are taken. minutes approved, and other
routine business dispatched. Attendance is usually l(M)%. This year our meetings were held
virtually over Zoom but we plan to return to factrto-face meetings in 2023.
Trustees are recruited and appointed by the Board and ￿flect the range of skills, knowledge and
experience required to run the Forum effective￿. All the Forum's Tnjstees are either Treasurers
in their own right or work Close￿ with the Treasurers or DI￿ttOr5 of Finance in Charities. The
normal term of office for a Tnjstee is three years, but Trustees can be reappointed and serve up to
a further five terms.
Induction is gDien to all new Trustees including briefing meetings with the CEO and Chair on roles
and responsibilities and an overview of the Trust deed. the decision-making processes, the
strategic implementation plan, policies and recent financial performance of the Forum.
PUBLIC BENEFIT
The Trustees confirm that they have complied with the duty in section 17 of the Charities Art 2011
to have due regard to the Charity Commissioners. general guidance on public benefit. "Charities
and Public 8enefiY'.
The Trustees ensure the chanws purpose is carried out for the public benefit by delivering
services that are valued by members and promote strong financial management and control.
Services include members, meetings and online events, regular email newsletters, a WhatsApp
group. the website with online resources, research and engagement with the sector into aspetts
of finance in charities. hosting a Treasurer vacanry board, and general networking.
The Forum is open to all Trustees= those who currently, in the recent past, or expect in the near
future to take on the important role of a TreaSU￿r in a charity or to have responsibility for
financial matters. Members pay a small annual fee, currently set at £35. Attendance at the Forum
meetings, either digitally or in person, continued to be free in 2022. The Forurn actively helps
charities to maximise use of their resources and make a greater impart for all their benef iciaries.

FINANCIAL REVIEW
The Forum has always had a simple operating model. with few outgoings. and does not
undertake artivities unless they are funded in advance. Accounting ￿CordS are kept using Xero
and annual invoicing has improved control over billing and debtors.
Earlier years, financial reviews have reported how the income generation strategy moved
Steadi￿ towards less reliance on major sponsors to more effective eng2gement with Corporate
Members. combined with an increase in genera5 membership. In 2022 the positive results of
these changes continued to be apparent, with only a small turnover in Corporate Member
numbers.
We are completing a review of membership numbers and continue to remove lapsed membe
from the roll, changes which primarily reflert the retirement of long-standing Tre3surers from
a number of charities. The annual subscription has been maintained at £35 since 2020 and cost
has not been cited as a reason for ceasing membership.
Although initially prompted by the Covid pandemic. our move to online events continued,
meaning that Costs could be contained. A much MO￿ digitally-focused o￿aniSation has
increased the number of online events offered free to members with only a modest increase in
website costs. The two fa￿-to-faCe events in 2022 were funded by UBS and Rathbones. at no
cost to the Forum.
Reported in more detail under achievements and artivitie5, the website continues to be a key
marketing tool and resource for members.
We outsource its ongoing updating and
enhancement, the cost of which is proportionate to the increasing activity, especially on the
popular Treasurer vacancy board. When funds allow, we plan for a new membership system
and website, to support anticipated growth in members.
The Statement of Financial Artivities is set out on page 12.
Total income of £32,51012021.. £37.1851 comprises corporate and individu21 memberships and
a major sponsorship from UBS which is shown as a donation. Oonation5 also include notional
amounts to reflect the equivalent cost of support provided to the Forum, as set out in note 5.
In 2022 these costs include the services of our part-time administrator, Helen. provided to the
Forum by Thames Valley Capital until her retirement in March 2022. plus other support
services and facilities provided free of cha￿e totalling £4.750 12021.- £9.7501. Following
Helen's retirernent. the services of Roz Bott. a professional administrator 3nd bookkeeper and
an individual member of the Forum. were contracted, ￿ducIng the subsidy from TVC but
incrèasing the c35h cost of administratrve support. This explains the apparent reduction in
income which, excluding donated support, in fact remains steady.
Total resources expended were £27,17912021: E27.1141 including a nTh)Jest payment of £13,500
under contratt to the Forum's part-time Chief Executive.
Most other costs relate to
maintenance and updating of the website and to administrative support.
The financial statements show a surplus of £5.331 12021-. £10,071), a year of consolidation.
Membership income is stated. as usual, after deferring amounts billed to new members who
joined after l October 2022. A5 an incentive to join. even if late in the year. our policy is to
extend new memberships to cover the following calendar year- to avoid accounting complexity
this income is deferred in full.
As with other membership organisations working on an annual cycle. all income falls due at the
beginning of the year, so cashflow is easy to pred

The Forum's bankers are the c￿operative Bank, refletting a high standard of corporate
responsibility.
RISK
The Trustees have active￿ considered the risk5 to which the Forum was exposed during 2022
and 3re satisfied that systems, including appropriate intemal contro15, are in place to minimise
or mitigate them. A risk re8lSter is maintained and reviewed in detail annually,. the major risks
and their inter-relationships being monitored at the intervening Trustee Meetings using a risk
map. Risks considered include loss of income or key personnel and have addressed potential
injury to members when events are held in person. Although the administrative team is small,
roles can be covered in the case of absence. which also improves internal control.
The continuing surplus in 2022 allowed reserve5 to build further.
RESERVES POLIL
At the end of 2022 reserves. all of which were unrestricted. stood at £17,662.12021 £12,330).
Before the Covid pandemic the Trustees ￿vieWed reserves policy and at that stage agreed that
reserves should continue to be maintained at between three and six months, operating
expenditure.. this would allow all planned Forum meetings in a normal year to be fulfilled,
which is still the case. Reserves now sr( marginally above the top of this range, but the planned
continuation of the reduction in overhead cost subsidy means that costs are likely to increase.
All held in cash. and with minimal working capital, the Trustees consider that the reserves level
provides a sound basis from which to develop the Forum further, especially given the
continued positive outlook for income in 2023.
The Forum's three-year strategy is due to be refreshed during 2023, following which the
Reserves Policy will be revisited. It is like￿ that plans for continuing expansion, improvements
in operational efficiency and supporting IT infrastructure will involve the expenditure of some
reseNes.
A￿1VITIEs AND ACHIEVEMENTS DURING 2022
The Forum's developed hybrid programme consisted of eight online events and tjvo physical
meetings in London.
The transformation to a hybrid events model to maintain our support has enabled the Forum
to appeal to a much wider geogr3phic31 and diverse membership. It is testament to Trustees,
our CEO and administrator that, given our very finite resources, we have implemented and
maintained the increase in activity. Most meetings had an average of 30 attendees and some
twice that number. Given the accessibility of online seminars, and the Jttraction to members
from a much wider geographical and youn8er audience we will continue to build on this in
future membership drives in 2023.
The events and Seminars hosted on Zoom and face-to-face, with artive participation bv
attendees were as follows=

27th January- Edentree-'The Importance ofthe'S' in ESG"_ Zoom.
17th February- UBS-"How to make better decisions- Unconscious bias" _ Zoom.
3rd March- Xledger--Choosing the right finance software for your chariW'_ Zoom.
21st April- ACIE--Independent Examination- Who, When and What"
Zoom.
26th May- RSM -"Mana8ing risk in uncertain times"_ Zoom.
30th June- U8S-'Yhe impact of DNersity & inclusion in the workplace"_ Zoom.
21st July- Rathbones-"Summer Reception"
Hosted by Rathbones- Face-to-face.
22nd September- Trustees Unlimited - Yhe opportunities and challenges in the
relationship between Treasurers and non-financial trustees"
Zoom panel event.
20th October- UBS-"Annual investment market overview & brief update on the Butler
Sloss judgment-_ Hosted by UBS- Face-to-face.
13th December- HW Fisher- ￿hat should be keeping Honorary Treasurers awake at
night"_ Zoom.
The feedback for each event has been very positive but numbers have varied.
As noted in the Chairman's review, our CEO Richard has now suc￿53fUllY maintained the new
strategies for events and attracting new corporate and individual members.
Individual membership increased to over 340, each paying the modest annual subscription of £35.
Our mailing list continued to grow slowly but steadily, primarily due to the ongoing relevance and
interest in the Honorary Treasurers handbook but also thanks to the free Treasurer advertisement
facility on our website and the more frequent memtEr and non-member newsletters. We now
carry many Treasurer opportunities, some of which result in new members joinin8. We have also
experimented with charging a small fee to Charity recruiters, which helps us to publicise the
Forum.
During the year, we progressed our initial research to verify the reach and impact of our
membership. albeit slower than hoped due to the limited availability of volunteers and our
capacity to support them. Using research from 2020 as the basis, we were able to conf irm that, at
the very least, 750 plus charities are supported by individual members. many of whom act in 3
financial capacity to more than one charity.
As for many other umbrella charities. this has once again been an exceptional year as we
continued the hybrid events programme and became more digital in our communications. The
digital strategy report undertaken in 2020 identified some areas in which the Forum might
improve its digital presence and impact. which we intend to implement in 2023.
We are extremely grateful to our main sponsor UBS who continued to provide important support
to the Forum, our members and to the host of large and small charities they support. A highlight
in Ortober was the annual UBS investment market overview presented by Dean Turner.
The Corporate Membership pro8ramme has also developed and diversified considerably. By
December 2022, despite some resignations. we were proud to have 24 corporate members who
help the Forum to SilPPOrt our members by bringing a wide range of expertise, knowledge and

advice. The event calendar increasingly draws on corporate members, who all operate in areas of
relevan￿ to charity Treasurers, to speak on salient topics.
Thznks to the generous support of UBS and the corporate rnembe￿, the Forum was able to
develop the WhatsApp Honorary Treasurers Forum Group. Ably administered and moderated by
Olga Vysotska, a volunteer member to whom we are indebted, the group increased by 30% in size
to 138 members at the end of the year. It is a vibrant. immediate, and valuable way for members
to ask questions, raise challenges, and gain a range of advice and opinions in a confidential way
from fellow practitioners. A range of topics have been discussed. reflecting the core current
concerns about pay rises, the cost of Iwing and inflation. During the year there has also been a
focus on reserves, banking, investment. volunteer expenses and a whole host of topics,
highlighted in the newsletters throughout 2022.
Under Richard's editorship. we maintained the size and frequency of our member e-mail
newsletter which now goes out every six weeks- an abridged version now reaches 1,600
supporters. from whom new members have been drawn.
Trustees have represented the Forum at a number of events and are asked to provide expertise at
seminars and round tables.
The Chief Executive and the Trustees are very pleased that our membership growth continues Jnd
that consequently we are in a good financial position. Despite, or perhaps because of. the
pandemic and now economic uncertainties, the number of TreaSU￿rS and Chairs of Finance
Committees contacting us has increased. as has member engagement. We are still optimistic that
the future will see an even bigger Forum in the coming years with enhanced services, reputation.
and profile.
FUTURE PLANS
Our plan for 2023 is to continue with the hybrid blend of physical and virtual events, to maintain
and grow the engagement of members and increase our campaigning funrtion: our ambitious aim
is to have a total of 420 members by the end of 2023.
If 311 goes well, we plan to run up to 11 events including two in person in July and October. Such
face-to-face events would be hosted by our sponsor and a corporate member.
We still aim to improve our digital profile, building on the Wh3tsApp group and the use of other
social media. With this in mind, we intend to set up and maintsin a Linkedln presence and use
online surveys to understand our members, needs better.
With additional administrative support we will be able to focus on rllore strategic developments
such as the proposed membership campaign, Source funding to develop the website with an
integrated membership sVStem and continue to look for sponsorship to help publish a revised.
updated and digitally accessible Treasurers, Handbook. This will help to achieve many of the
medium-term objective5 highlighted in the 2021 accounts.

The focus will be on a struttured membership campaign. The plan is to launch during 2023 and is
likely to include..
lrnproving our online digital profile.
Working in partnership with other infrastructure bodies to highlight the Forum.
Working with federated charities to encourage membership.
Asking our corporate members to publicise the Forum to their staff and to clients who
might be or are interested in becomin8 Treasurers or trustees.
Asking all members to encourage members of their network to consider joining the
Honorary Treasurers Forum.
Placin8 editorial type pieces in Linkedln for reposting by trustees and connections.
Placing pro bono adverts in sector news media.
Developing relationships with foundations and other potential funders to subsidise the
first year of individual members. allowing us to reach out to Treasurers from less
advanta8ed groups and charities as well as to develop our IT infrastructure.
Building a sustainable model for administrative support, using technology, and relying
less on volunteers for core tasks.
To achieve these objertives, the Forum needs to maintain the cur￿nt, more sustainable, funding
mix including membership fees, corporate member income, sponsorship, grant funding and
individual donations.
Having moved from reliance on donated setvices to support our
irnfrastructure, funds permitting, we aim to continue to investigate further automation of our
membership and administrative processes.
MEMBERSHIP OFTHE FORUM
The Forum is open to those who current￿. in the recent past, or expect in the near future to,
take on the important role of Treasurer in a charity.
Anyone wishing to join the Forum should contact us by email at:
info@honorarytreasurers.org.uk.

TRUSTEES, RESPONSIBILIfflES IN RELATION TO THE FINANCIAL STATEMENTS
The charity Trustees are responsible for preparing a Trustees, Annual Report and financial
statements in accordance with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practicel.
The law applicable to charf(ies in England and Wales ￿qUireS the charity Trustees to prepare
financial statements for each year which gwe a true and fair view of the state of affairs of the
charity and of the incoming resour￿5 and application of resources. of the charity for that
period. In preparing the financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently
obseNe the methods and principles in the applicable Charities SORP
rnake judgements and estimates that are reasonable and prudent
state whether applicable accounting standards have been followed, Subject to any
material departures that must be disclosed and explained in the financial statements
prepa￿ the financial statements on the going concem b35is unless it is inappropriate
to presume that the charity will continue in business
The Trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at any time the financial position of the charity and to enable them to
ensure that the financial statements comply with the Charities Act 2011, the applicable
Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. They are
also responsible for safeguarding the assets of the charity and taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The Trustee5 are responsible for the maintenance and integrity cif the charity and financial
information included on the charity's website in accordance with legislation in the United
Kingdom governing the preparation and dissemination of financial statements.
Approved by the Trustees on..
Oate: 12 June 2023
and signed on their behalf by:
Bruce Gordon Ichaimianl
io

INDEPENDENT EXAMINER'S REPORTTO THE TRusfEES OF THE HONORARY
TREASURERS FORUM
CHARITY REGlSfRATION NUMBER: 1118802
I report to the Trustees on my examination of the accounts of the Honorary T￿aSUrerS Forum
for the year ended 31" December 2022 which are set out on pages 12 to 17.
Responsibilities and basis of report
As the charity Trustees. you are responsible for the Preparation of the accounts in accordance
with the requirements of the Charities Art 20111.the ACWI.
I report in respert of my examination of the Trusrfs accounts, carried out under sertion 145 of
the 2011 Act and in carryin8 Out my examination I have followed all the applicable Directions
given by the Charity Commission under section 14515llbl of the Act.
Independent examinerf$ statement
I have completed my examination. I confirm that no material matters have come to my
attention in connection with the examination which gives me cause to believe that in, any
material respect=
the accounting records were not kept in accordance with sertion 130 of the Art,. or
the accounts did not accord with the accounting records- or
the accounts did not comply with the applicable ￿qUirementS concerning the form
and content of accounts set out in the Charities (Accounts and Reports) Regulations
2c￿8 other than any requirement that the accounts give a 'true and fairf view which
is not a matter considered as part of an independent examination.
I have no concems and have corne across no other matters in connection with the ex3rnination
to which attention should be drawn in this report in order to enable a proper understanding
of the accounts to be reached.
Signed:
Date:
12 T￿￿ zr>2
Name:
Simon Mollett
Relevant professional
qualifications:
ACA
Address:
2, Branstone Road.
Richmond.
Surrey. TW9 3LB
li

THE HONORARYTREASURERS FORUM
STATEMENT OF FINANCIAL AcfiviTIES
FOR THE YEAR ENDED
31" DECEMBER 2022
Unrestrtcted
Funds
Unrestricted
Funds
Total
2022
2022
2021
Note
Incoming resources
Donations
9 .750
9,750
14.750
Trading income
22.760
22.760
22,435
Totsl incomin8 resources
32,510
32,510
37,185
Resources expended
Cost of Generating Fund5
6,750
6.750
6,￿0
Charitable Activities..
Research
Education
20,429
20,429
21.114
Total resources expended
27,179
27,179
27.114
INCOMING RESOUR￿$
5.331
5,331
10,071
Tot21 funds brought forward
12.330
12.330
2,259
TOTAL FUNDS CARRIED
FORWARD
£17,662
£17,662
£12.330
12

THE HONORARYTrEASURERS FORUM
BALANCE SHE￿A5 AT 31" DECEMBER 2022
2022
2021
Note
Current assets
Debtors
120
245
Cash at bank and in hand
22.873
16,792
Current liabilities
Creditors falling due within one year
15.3311
14,7071
TOTAL NET ASSETS
£17,662
£12.330
The fund5 of the charity
Unrestricted fund5
17.662
12,330
TOTAL CHA￿Ty FUNDS
£17.662
£12,330
Approved by the Trustees on:
Date: 12 June 2023
and signed on their beha￿ by:
uce Gordon Ichairmanl
13

NOTES TOTHE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2022
l. Accounting policies
The principal accounting policies are summari5ed below. The accounting policies have been
applied consistently throughout the year.
lal Basis of preparation and assessment of going concem
The accounts (financial statementsl have been prepared under the historical cost convention
with items recognised at cost or transaction value unless otherwise stated in the relevant
notelsl to these accounts. The financial statements have been prepared in accordance with
the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Repub5ic of Ireland IFRS 1021 issued on 16 ju￿ 2014 and the Financial Reporting Standard
applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the CharitiesAct 2011.
The Forum constitutes a public benefit entity as defined by FRS 102.
The Trustees consider that there are no material uncertainties about the Forum's ability to
continue as a going concem.
Ibl Funds strutture
Unrestricted income funds comprise those funds which the Trustees are free to Use
for any purpose in furtherance of the charitable objects.
Restricted funds are subjected to restrirtions on their expenditure imposed by the
donor or through the terms of an appe31. There a￿ no restritted funds.
Icl Income recognition
All income is recognised On￿ the charty has entitlement to the income, it is probable that
the income will be received. and the amount of income re￿Ivable can be measured reliably.
The following specific policies are applied to particular categories of income:
Income received by way of grants. donations and grfts is included in full in the
Statement of Financial ActNities when receivable.
Annual membership income receivable from indThiidual and eorporate members is
treated as trading income.
Annual memberships received in advance are accounted for as deferred income.
Members joining in the final three months of a calendar year receive free membership
benefits until the end of that year and pay in advan￿ for the following year.
Gift aid reclaimable on donations to the charity is included with the amount received.
Donated services and facilities are included at the value to the charity where this can
be quantified, and the amount is Material.
The value of seNices provided by volLSnteers is not incorporated into these financial
statements. Further details of the contribution made by volunteers can be found in
the Trustees, Annual Report.
(d} Expenditure recognition
14

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that settlement will be required. and
the amount of the obligation can be measured reliably. All expenditure is accounted for on an
accruals basis.
(el Irrecoverable VAT
The Forum is not registered for VAT. Ir￿CoVerable VAT is charged against the expenditure
heading for which it was inojrred.
{fj Allocation of support costs
Other than the a51ocation of the CEO'S time to fundraising, support costs relate to the main
charitable activity of education.
Igl Cost of generating funds
The cost of raising funds consists of the CEO'S time in meetine existing and potential donors
and members.
{hl Charitable activities
The cost of charitable artivities includes CEO time, govemance costs and support costs.
2. Taxation
The charity is exempt from direct taxatlon on its income and gains where they are applied
for charitable purposes. No tax charges have arisen.
3. Trading Income
Trading income comprises annual subscriptions received from individual and corporate members.
2022
2021
Individual members
11,510
10,785
Corporate members
11,250
11.650
£22.760
£ 22,435
4. Analysis of support and governance costs
General
support
Total
Total
Govemance
2022
2021
Website
4,297
4,297
4.705
Software Licences
713
713
479
CEO time
2.250
2.250
2,CMJO
Insurance for Trustees
120
120
Iso
Conferences
478
478
Sundry expenses
207
207
30
Total
£ 5.695
£ 2.370
£ 8.C65
£ 7.364
15

There was no fee for Independent Examination in 2022 or 2021.
5. Analysis of charttable expenditure
Research Education
Total
2022
Totsl
2021
CEO time
4,5(Xtr
3,114
4,500
3,114
4.CMJO
Administrative support
TV Capital Ltd - donated administrative support
Baye5 Iformerw Cassl Business School-
donated services and facilities
9,000
250
250
250
Catering
UBS- donated services and facilities
Support and Governance (note 41
Total
5(Kl
500
500
8,065
8.065
£20.429 £20,429
7,364
£21,114
No research actDlities were undertaken during 2022.
6. Remuneration and expenses.
No remuneration or expenses were paid to any of the Trustees durin8 the year. The Forum
has no employees. Expenses to be re-imbursed to a Trustee of £346, relating to Costs incurred
on behalf of the Forum. rernained unpaid at the year-end and are included in creditor5.
7. Related party tran5artions
Having no employees, the Forum ￿ceIVeS support from its Trustees, SUPPOrters and the
organisations associated with them. The Forum pays RichRob Associates Ltd for the services of
Richard Williams who joined the Forum as CEO in mid-2020. In 2022 RichRob invoiced the
Forum £13,500 for these services12021= £12.0001 of which £3,250 was outstanding at the end
of 2022.
Professor Paul Palmer, a Trustee. is also an employee of Bayes Business School, City, University
of London and remains Assoc13te Dean of the Centre For Charity Effectiveness at Bayes. which
has provided administrative and catering services in the past. Nothing was paid during the year
under review.12021.. Nill.
Support and administrative services were provided pro bono by Thames Valley Capital Ltd, a
company in which the Chairman, Bruce Gordon holds a controlling interest. This amount is
reducing annually to reflect the provision of these services externally. The value of the service5
is estimated at £4,000 for 2022 12021.. £9,OWI. Bayes (formerly Cassl CCE continued to
provide a post box service to the Forum at an estimated value of £250, for which they received
an Honorary Corporate membership. UBS, the Forum's major sponsor. hosted and presented a
face-to-face event at a notional value of £5￿ in addition to their donation of £5,CMJO.
16

8. Debtors
2022
2021
Membership and Corporate Member subscriptions
120
245
9. Creditors under l year
2022
2021
New mernberships and renewals received in advance
Accounts payable and accruals
700
1,145
4,631
3.562
£5,331
£ 4,707
17