2023-12-31-accounts

The Honorary Tre(zsurers ForLLm ANNUAL REPORT AND ACCOUNTS 2023

TRUStEES' ANNUAL REPORT For the year ended 31 December 2023 REFERENCE AND ADMINISTRATIVE DETAILS Name: The Honorary Treasurers Forum {Yhe Forum") Charty Registration Number.. 1118802 Trustees: BRUCE GORDON, CHAIRMAN HEATHER L4MONT PROFESSOR PAUL PALMER GK4HAM SPOONER (to 31 December 2023) NICOLA SILVERLEAF. TREASURER DAVID ROWE Chief Executive: RICHARD WILLIAMS Principal Office and Administrative Address: c/0 CENTRE FOR CHARITY EFFECTIVENESS BAYES BUSINESS SCHOOL (FORMERLY CASSI 106 BUNHILLROW LONDON ECIY 8TZ Independent Examiner: SIMON mOLLE￿. PhD, ACA (Re-appointed 2fh March 20241 Bankers.. THE CO-OPERATIVE BANK

CHAIRMAN'S OVERVIEW CHAIRMAN'S OVERVIEW 2023 The Honorary Treasurers Forum is the primary source of professional development and sharing of ideas, challenges and solutions for Treasurers and Chairs of Finance Committees. The Forum is the only organisation that fo¢usse5 Whol￿ on the needs of thoseTrustees who assist directly in f inancial matters, 5UPPOrting them to enhance their confidence and helping them to be better at what they The Forum continues to deliver a hybrid events programme and has managed to deal effectivelv with increased costs and inflation. The WhatsApp group has developed to become an important membership benefit and we now have an active Linkedln presence which has increased our scope and reach to the charity sector. 2023 has primarily been a year of consolidation and modest growth. The additiona1 sUPPOrt provided by our part-time administrator Roz Bott ha5 proved invaluable in enabling us to enhance our relationship with both individual and corporate members. During the year we held eleven events overall wi(h nine virtu31 online events. and two face to face events. We sent out eight 5ix-weekly email newsletters which provide practical support and access to resources and support Treasurers in their vital role. The WhatsApp group has grown to 151 members and has become a vitas and increasingly valued channel of communication for members. Our website has continued to be a valuable resource. including as it does the ever-popular Treasurerfs handbook for download by new treasurers and non-member5, plus publicly available presentations, or sumrnaries of previous events. When asked by members we 3150 provided recordings of online events whenever possible. Being a mature digitally focused charity has meant that we have been able to contsin our costs and the increased membership and activity has been catered for. We launched our Linkedln Forum page in August 2023 and at the end of the year we had 255 followers and had made 44 posts and rep05ts. We have used the CEO'S Linkedln profile with 3,5W connections to repost all the posts on the Honorary Treasurers Forum Linkedln page and to repost sever31 corporate member posts. We are also reposting on several other Linkedl n pages with many more followers including Charity UK. Charity Intelligence and Charterpath, amongst others, giving us a reach of over 35.(M)O contatts. 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 the 30 corporate members, who are listed on our website and whose support alongside member subscriptions enables the Forum to be financially sustainable. Corporate member event5. training and white papers feature regularly in our 6 weekly member and non-member email newsletter,. several of our corporate members ran both our virtual and face-to-face event5. We are also 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 pro8rarnme of events. Membership has continued to increase and now stands at 350.. the members in turn support over 785 charities with over 50% having an income of over £lm. The WhatsApp group constitutes 43% of the membership. Corporate membership growth is eX￿lIent. This increased individual

membership, corporate membership and the vital UBS 5pon50rship help us to provide support, advice and a vibrant commLJnity to our members. Our member and non-member newsletter distribution increased to over 1,9(X) subscribers and we have progressed the collection of more data on the reach. impart and geographical location of the Forum members. 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, 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 £IO.QKK). I would like to thank my fellow Trustees and volunteers for the time. help and support they have iven the Forum. At the end of the year we said a final good-bye to Gr3ham Spooner, a long Standing trustee for his many years, service and outstanding contribution to the Forum. I would especially like to thank Nicola Silverleaf. our Treasurer. and Roz Bott, our administrator, for their enthusiasm and loyalty and to thank Richard Williams for his commitment and support in maintaining the Forum at its new level. Bruce Gordon Chairman IO, June 2024

STRUCTURE. GOVERNANCE AND MANAGEMENT The HonoraryTreasurers Forum is a charity governed by a Trvstee Deed dated 19 March 2007. Its object is- "to advonce the educat￿n infinanciol management of those who ore re5ponsiblefor those looking ofter chorities'finances." Membership of the Forum is open to all Treasurers and those Trustees principally responsible for finance matters in their charities. The organisation 5trurture of the Forum is simple. The Trust Deed requi￿5 there to be at least three Trustees and no more than ten. At the end of 2023 we had six Trustees supported by a part- time Chief Executive and a small number of volunteers. The Trustees meet routinely as a Board at least four times a year, when strateBic decisions are taken, minutes approved, and other routine business dispatched. Attendance is usually l(XN. This year we were ab￿e to meet again in person for one of the four meetings. Trustees are recnjited and appointed by the Board and reflect the range of ski115. knowledge and experience required to run the Forum effertively. All the Forum's Trustees are eitherTreasurers in their own right or work closely with the T￿asUrerS or Directors of Finance in Charities. The normal term of office for a Trustee is three years, but Trustees can be reappointed and serve up to a further five terms. Induttion is gwen 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 Chaiity Commissioners, general guidance on public benefit, 'Charities and Public Benefiy,. The Trustees ensure the chariVs purpose is carried out forthe 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. ￿Search and engagement with the sector into aspects of finance in charities. hosting a Treasurer vacancy board, and general networking. The Forum is open to all Trustees.. those who currently, in the recent past, or expert in the near future to take on the important role of a Treasurer 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 digital￿ or in person, continued to be free in 2023. The Forum actively helps charities to

maximise use of their resources and make a greater impact for all their beneficiaries. and we are active in the Charity Community. FINANCIAL REVIEW The Forum has always had a simple operating mLJel. with few outgoings, and does not undertake activities unless they are funded in advance. Accounting records are kept usin8 Xero and annual invoicing has improved control over billing and debtors. Earlier years, financial reviews have reported how the ircome generation strategy moved steadiw towards less reliance on majcir sponsors to more effective engagement with Corporate Members, combined with an increase in general membership. In 2023 the positive results of these changes continued to be apparent. with On￿ a small turnover in Corporate Member numbers. There was. however. a continued tapering in the sponsorship donation received from our major sponsor. UBS. now reduced to £2,5(K). We have now completed a forensic review of membership numbers and continue to remove lapsed members from the roll. changes which primarily reflect the retirement of long-standing Treasurers from a number of charities. The annual subscription has been maintained at E35 since 2020 and cost has not been cited as a reason for ceasing membership. The retention rate is still extremely high. Our events continue to remain on-line. a model which allows costs to be contained. A much more digitally focused organisation has increased the number of online events offered free to members with only a modest increase in website costs. The two factrt¢Fface events in 2023 were funded by U8S and CCLA, at no cost to the Forum. Reported in more detail under achievements af)d actwities, the website continues to be a key marketingtool and resource formembers. Its ongoing updating and enhancement is outsourced, the cost of which is proportionate to the increasing attivity, especially on the popular Treasurer vacancy board. In 2024. we plan to bring the website management in-house, which will reduce cost, but also improve our response time. The 5tstement of Financial Activities is Set out on page 13. Total income of £27.27912022.. £32.5101 comprises corporate and individual mernberships and a major sponsorship from UBS which 15 shown as a donation. Donations also include notional amounts to reflect the equivalent cost of support provided to the Forum. as set out in note 4. In 2023, the first full year of our oijtsourcing our administration to Roz. these costs had reduced so now only comprise a post restante address provided by Bayes 8u5ine55 School's Centre For Charity Effectiveness and the event provided by UBS lin addition to their generous sponsorship), a total of £75012022.. £4,750). Total resources expended were £25,55612022: £27.1791. including a mcKY* payment of £13.5Q) under contrart to the Forum's part-time Chief Executive. Most other costs rel8te to maintenance and updating of the website and to administrative support. The financial statements show a surplus of £1,72312022.. £5.3311, reflecting the reduction in primary sponsorship, and the completion of the transfer of administration support so It is no longer pro-bono. Membership income is Stated. as usual. after deferring amounts billed to new members who joined after l October 2023. As 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 fvll. As with other membership or8anisations working on an annual cycle. all recurrin8 income falls due at the beginning of the year. so cashflow is easy to predict.

The Forum's bankers are the Co-operative Bank, reflecting a high standard of corporate responsibility. RISK The Trustees have actively conSide￿d the risks to which the Forum was exposed during 2023 and are satisfied that Systems. including appropriate internal controls. are in place to minimise or mitigate them. A risk register is activeW 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 ean be covered in the case of absence. which also improves internal control. The continuing surplus in 2023 allowed ￿serveS to build further. RESERVES POUCY At the end of 2023 reserves, all of which were ￿n￿StrIcted. stood at £19,385,12022 £17,6621. 8efore the Covid pandemic the Trustees reviewed reserves policy and at that stage agreed that resetves should continue to be maintained at betsyeen three- and six-months, operating expenditure.. this would allow all planned Forum meetings in a normal year to be fulfilled. which is still the c35e. Reserves now sit above the top of this ranBe. Trustees are considering a designation of reserves to apply to one of the many projects which have been identified but not started due to resource constraints. It is likely that plans for continuing expansion, improvements in operational efficienry and supporting IT infrastrncture will invO￿e the expenditure of some reserves. All held in cash, and with minimal working capital requirements from such a low overhead model, the Trustees consider that the reserves level provides a sound basis from which to develop the Forum further. especially gwen the continued positive outlook for income in 2024. ACTIVITIES AND ACHIEVEMENTS We start this review by congratu13tin8 our Chair of Trustees, Bruce Gordon. on the award of an OBE, announced in the New Yearfs Honours List in January 2024. for service to charity- Amongst his many achievements, as a founding Trustee Bruce has supported the Forum since its inception. The Forum's 2023 hybrid prograrnrne consisted ol 11 events with nine online events and two physical meetings in London. The hybrid events model ha5 helped the Forum to èppeal to our much wider geographical and diverse membership. It is testamentto Trustee5. our CEO and administrator that, given our very finite resources. we have maintained a high level of activity. Most events had an 3verage of 30 attenclees and some twice that number. Given the accessibility of online seminars, and their attrattion for members from a much wider ge()graphical and younger audience, we continued to build on this in 2023.

The events and seminars hosted on Zoom and factrto-fa￿, with active participation by attendees. were as follows= January-Farrer& Co- Zoom panel eventwith Waverton and haysmacintyre- a follow up from their Dec 2021 event focussing on 'The impatt of the Butler Sloss judgment". Feb- Access Insurance- Zoorn event- Cost-of-living pressures- Reviewing your insurance. March - CharityJob- Zoom event-"How Fair recruitment can help drive more candidates". April- Russell Cooke - Zoom event-"Operating through financial difficulties". May - Rathbones- Zoom event- ￿hat the uncertain outlook for growth and inflation means for investrnent retums and how can charfftes ensure their withdrawals balance current and future needs". July - CCLA Face to face event- aren't banks 8i¥in8 depositors the benefit of higher interest rates" accompanied by a Summer Reception. July - Joe 5axton Hey Hey Joe- Zi)om eVent-"c￿3trng a Great Strategy for your Charity". September - XLedger Zoom event- -Digital Transformation.. "Finance team5 and treasurers leading the way to positive change.. October - UBS face to face event-"F055iI fuels: invest or dNest, and a market update". November- HW Fisher- Zoom event- ￿hat should Honorary T￿aSUrerS be ¢on5iderin8 for 2024V December - Fism - Zoom event ~Magical m￿eryT0ur.. Exploring the potential link bel￿een Risl Reserves land The Beatlesl". The feedback for the events has been very positive despite numbers attending having varied. with up to up to 20% of members attending some, a high level for on-line events. As the Chairman notes in his review, our CEO Richard has maintained the new strategies for events and for attracting new corporate and individual members. Individu21 membership increased to over 350, each paying the modest annual subscription of £35. Our mailing list continued to grow, primarily due to the ongoing relevance and interest in the Honorary Treasurers handbook but also thank5 to the free Treasurer advertisement facility on our website and the more frequent member and non-member newsletters. We now carry over 30 Treasurer opportunities a month, some of which result in new members joining. The small fee to Charity recruiters was increased to £50 and has limited take up but still helps us to publicise the Forurn. We have collaborated with several other small infrastructure bodies during the year helping to increase our profile. working together to enhance our irnpart and providing a very cost-effective way of recruiting new members. The o￿a￿lS3t10ns we are working with inclLJde Reach Volunteerin& Getting on Board, Embrace. Charterpath and Charity Intelligence. Durin8 the year, we pro8ressed osjr research toverify the reach and impart of our membership,. this

has Still been slower than hoped due to the limited availability of volunteers and our capacity to support them. Using the initial research as the basis we can confirm that, at thevery le35t, individual members support more than 785 charities. As was the case for many other umbrella charities, 2023 has once again been a challenging year as we dealt with rising costs and inflation but despite this, we continued the hybrid events prograrnmÈ and became more digital in our communications. Some of the areas identified in the 2020 digital strategy report have been implemented with a successful Honorary Treasurers Forum Linkedln profile that was launched in August. At the end of the year. we had 255 followers and had made 44 posts and reposts. By using the CEO'S well established Linkedln profile with 3.500 connections we reposted all the posts on the Honorary Treasurers Forum Linkedln page and reposted corporate member post5 to provide added value for their annLJal subscription. We also repost on several other Linkedln pages to 8ive us greater reach to over 35.CNJO contscts. We are very grateful to our main sponsor UBS, who continued to provide important support to the Forum, to our members and to the large and small charities they support. A highlight in early summer was an excellent lunch with a select group of member5. followed in October by the annual UBS investment market update that thisyearfocussed on the conundrum of investing in Fossil fuels. The Corporate Membership prograrnme has also developed and diversified considerably. By December 2023. despite two resignations, we were proud to have 30 corporate members who are featured on our website and who help the Forum to support 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 relevance to charty Treasurers and speak knowled8eably on topical subjetts. Thanks to the generous support of UBS and the corporate members. the Fomm's WhatsApp Honorary Treasurers Forum Group continued to grow. reaching ISI members at the end of the vear. with almost all new members choosing to take part. It continues to be 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 prattttioners. A range of topics have been discussed, reflecting the current concerns about banks, returns on investment and, of course, the perennial subject of reserves. During the year there has also been a focus on. pay rises. the cost of living, inflation. volunteer expenses and a whole host of topics, highlighted in the newsletters throughout 2023. We maintained the size and frequency of our member e-mail new51etter which now goes out every six weeks- a redacted version without the links to online resources now ￿3£he5 over 1.600 supporters, from whom new members are also drawn. Trustees and member volunteers have represented the Forum at several events and provide expertise at seminar5 and round table5. The Chief Executive and the Trustees are very pleased that our membership growth continues organically, albeit at a slower pace and that consequently we are still in a good financial position. De5Plte the economic uncertainties and the limitations of our finite resource the number of Treasurers and Chairs of Finance Committees contacting us ha5 increased, as has member engagement. We are optimistic that the future will see an even bigger membership in the coming

ye3rs wf(h enhanced services. invitation lunch events, reputation, and profile. FUTURE PLANS Our plan for 2024 sees u5 continue the hybrid programme of physical and virtual events. to maintain and grow the engagement of members and to increase our campaigning function.. our ambitious aim is to have a total of 4m members by the end of 2024. We plan to run up to 11 events includin8 two in-person in July and October. Such face-ttrface events would be h05ted by our sponsor and a corporate member. In addition, we will offer our members, lunch and training events in partnership with some of our corporate members. We aim to continue to improve our digital profile. to grow the WhatsApp group and our Linkedln profile and to explore the use of other social media. With this in mind, we intend to use online Surveys to understand our members. needs better. to implement a membership management system that can be integrated with our accounts software and website. to install a direct debit app to improve the processing of subscription income. and to manage our website more effectively. With additional administrative support we will focus on taking forward the more strateEIC developments including the membership campaigning and more collaboration with like-minded infrastructure organisations. We will look to source funding to develop the website 2nd continue to look for sponsorship to help publish a revised. updated and digitally accessible Treasurers, Handbook. These are ambitious aims. and are very msjch subject to the availability of resources, both people and financial. With the finite resources available, three of 2023's objectives have not yet been achieved.. Working with federated charities to encourage membership. Placing pro bono adverts in settor news media. Developing relationships wrth foundations and other potential funders to subsidise the first year of individual members. allowing us to reach out to Treasurers from less advantaged 8roup5 and charities as well as to develop our IT infra5trutture. We intend to make more progres5 on these areas in the comin8 years and they are included in our 2024 plan. The focus for 2024 will be on a structured membership camp3ign. The plan is to launch during 2024 and will include.. Continuing to Improve 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 becomin& Treasurers or finance trustees.

Asking all members to encoura8e members of their network to consider joining the Honorary Treasurers Forum. Placing editorial-type pieces in Linkedln for reposting by trustees and connections. Continuing to explore placing pro bono adverts in sector news media. Revisiting 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 advantaged groups and charities as well as to develop our IT infrastructure. Continuing to build a sust3inable model for administfative support. using technology, and relyin8 less on volunteers for CO￿ tasks. To achieve these objertDies, the Forum needs to maintain the current. more sustainable, funding mix including membership fees, corporate member income, sponsorship. grant funding and individual donation5. MEMBERSHIP OF THE FORUM The Forum is open to those who currefit￿, in the recent past, or expect in the near future to, take on the important role of Treasurer in 3 charity- Anyone wishing to join the Forum should contact us by email at.. [e-mail]. io

TRUSTEES, RESPONSIBILITIES 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 Iunited Kingdom Generally Accepted Accounting Prarticel. The law applicable to charities in England and Wales requires the charty Twstees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources. of the charity for that period. In preparing the financial statements, the Trustees are required to.. selett suitable accounting policies and then apply them consistent observe the methods and principles in the applicable Charities SORP make judgements and estimates that are reasonable and prudent state whether applicable accounting standards have been followed. subject to any material departure5 that must be disclosed and explained in the financial statements prepare the financial statements on the going concem basis 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 f inancial statements comply with the Charities Act 2011, the applicable Charities (Account5 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 detertion of fraud and other irregularities. The Trustees are ￿sPonSible for the maintenance and integrity of the charity and financial information included on the chariws website in accordan￿ with legislation in the United Kingdom governing the preparation and dissemination of financial statements. Approved by the Trustees on: Date- IO" June 2024 and slg on their behalf by: ruce Gordon IC an li

INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEE5 OF THE HONORARY TREASURERS FORUM CHARITY REGISTRAMON NUMBER: 1118802 I report to the Trustees on my examination of the accounts of the Honorary Treasurers Forum for the year ended 31" December 2023 which are set out on pages 13 to 18. Responsibilrties and basis of ￿POrt As the charity Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Art 20111.the Acff l. I report in respect of my examination of the Trust's accounts. carried out under section 145 of the 2011 Att and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confTmi that no material rllatters have come to my attention in connertion with the examrnation whtch gives me cause to believe that in, any material respett-. the accounting records were not kept in accordance with section 130 of the Act. or the accounts did not accord with the accounting records,. or the accounts did 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 fairf view which is not a matter considered as part of an independent examination. I have no concems and have come across no other Matters in connection with the examination to which attention should be drawn in this report in orderto enable a proper understanding of the accounts to be reached. Signed: Date: IO" June 2024 Name.. Simon Mollett Relevant professional qualifications.. AC4 Address: 2. Branstone Road. Richmond, Surrey. TW9 3L8 12

THE HONORARYTREASURERS FORUM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31" DECEMBER 2023 Unre5trirted Fund5 Unrestricted Funds Total 2023 2023 2022 Note Incoming resour Donations 3,250 3,250 9,750 Trading income 24,(K)5 24,005 22,760 Bank Interest receNed 24 24 Total incomin8 resour￿$ Resour￿5 expended Cost of Generating Funds Charitable Activities= 27,279 27.279 32,510 6,750 6.750 6,750 Research Education 18,806 18.806 20,429 Total resources expended 25,556 25,556 27,179 NET INCOMING RESOURCES 1.723 1,723 5,331 Total funds brought forward TOTAL FUNDS CARRIED FORWARD 17.662 17,662 12.330 £19,385 £19,385 £17,662 13

THE HONORARYTREASURERS FORUM BALANCE SHEET AS AT 31" DECEMBER 2023 2023 2022 Note Current assets Debtors 260 120 Cash at bank and in hand 24,658 22,873 Current liabilities Creditors falling due within one year 15.5331 15,3311 TOTAL NET Asstrs £19,385 £17,662 The funds of the charity Unrestricted funds 19,385 17,662 TOTAL CHARITY FUNDS £19.385 £17,662 Approved by the Trustees on: Date: IO, June 2024 and si8ned on their behalf by: ruce Gordon IC an) 14

ST NOTES TOTHE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 l. Accounting policies The principal accounting policies a￿ summarised below. The accountin8 policie5 have been applied consistently throughout the year. {al Basis of preparation and assessment of going concern The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transartion value unless otherwise stated in the relevant notels) 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 Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Forum constitutes a public benefit entity a5 defined by FRS 102. The Trustees consider that there are no material uncertainties about the Forum's ability to continue as a going cOn￿rn. Ibl Funds Structure Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. Restrirted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. There are no restricted funds. Icl Income recognition All income is recognised once the charity has entitlement to the income. it is probable that the income will be receThied, and the amount of income receivable can be measured reliably. The following specific policies are applied to particular categories of income= Income received by way of grants, donations and gifts is included in full in the Statement of Financial Activities when receivable. Annual membership income receivable from indniidual and corporate members is treated as trading income. Annual memberships re￿iVed 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 advance 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 services provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the Trustees. Annual Report. 15

Idl Expenditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation comrnitting the charity to that expenditure, it is probable that settlement will be required, and the amount of the obligation can be measured reliab￿. All expenditure is accounted for on an accruals basis. lel Irrecoverable VAT The Forum is not registered for VAT. Ir￿CoVerable VAT is charged against the expenditure heading for which it was incurred. If) Allocation of support Costs Other than the allocation of the CEO'S time to fundraising. support costs relate to the main charitable activity of education. Igl Cost of 8eneratin8 funds The cost of raising funds consists of the CEO'S time in meeting existing and potential donors and member5. Ihl Charitable activities The cost of charitable activities includes CEO time. 8overnance costs and support costs. 2. Taxation The charity is exempt from direct taxation on its incorne and gains where they are applied for charitable purposes. No tax charges have arisen. 3. Trading Income Trading income comprises annual subscriptions recewed from individual and corporate members 2023 2022 Individual members and advertising vacanties Corporate members 11,305 11,510 12.700 11,250 £24.005 £22.760 16

1. Analysi5 of charitsble expenditure Research Education Total 2023 Total 2022 CEO time 4,5(Xl 5,7LKI 4,SiJ) 5,700 4,500 3,114 Administrative support TV Capital Ltd - donated administrative SUPPOrt Bayes (former￿ Cassl Business School- donated services and facilities 4,OQK) 250 250 250 Catering UBS donated services and facilities 51XJ 5(M) 500 Support and Governance (note 51 Total 7,856 7,856 £18,806 £18,806 8,065 £20,429 No research activities were undertaken during 2023.
2. Analy515 of sUPPOrt and governance c05ts General SUPPOrt Totsl Governan 2023 2022 Website 4,115 4,115 4,297 Software Licences 739 739 713 CEO time 2.250 2.250 2.250 Insurance for Trustees 120 120 120 Conference attendance 358 358 478 Member events 42 42 Sundry expenses 232 232 207 Totsl £ 5,486 £ 2,370 £ 7,856 £ 8.065

3. Remuneration and expenses There was no fee for Independent Examination in 2023 or 2022. No remuneration was paid to any of the Trustees during the year. The Forum has no employees. Expenses of £68912022-. £3461 were incurred by one Trustee, relating to costs incurred on behalf of the Forum.. of this. £219 remained unpaid at the year-end and is included in creditors12022'. £3461 17

4. Related party transactions Having no employees, the Forum recetves support from its Trustees, supporter5 and the organisations associated with them. The Forum pays RichRob Associate5 Ltd for the services of Richald Williams whojoined the Forum as CEO in mid-2020. In 2023 RichRob invoiced the Forum £13,500 for these services12022.. £13,5(X)l of which £3.250 was outstsnding at the end of 2023. Professor Paul Palmer, a Trustee. is also an employee of Bayes Business School. City, University of London and remains ￿SocIate Dean of the Centre For Charity Effectivene5S at Bayes. which has provided adrrinistrative and caterin8 Services in the past. Nothing was paid during the year under review.12022- Nill. Support and administrative Se￿iCe5 have historical￿ been provided pro bono by Tharnes Valley Capital Ltd ITVCI, a cornpany in which the Chairman. Bruce Gordon holds a controlling interest. During 2022 an external administrator. Roz Bott. took over so that TVC is no longer involved in administration. (ln 2022 a notional value of £4.OCM) was placed on the services received in that yearl Bayes Iformerly 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-faee event at a notional value of £500 in addition to their donation of £2,500.

5. Debtors 2023 2022 Membership and Corporate Member subscriptions £260 £120
6. Creditors under l year 2023 2022 New memberships and renewals received in advance Accounts payable and accruals 1.130 700 4,403 4,631 £5,533 £5,331 18