## **CONSUMERS INTERNATIONAL** 

**Annual Report of the Trustees and Financial Statements** 

## **For the year ended** 

**31 December 2022** 

**Company registered number: 04337865 Charity registered number: 1122155** 



## **Consumers International Annual Report of the Trustees and Financial Statements 2022** 

## **Contents** 

From our President, Dr Marimuthu Nadason ........................................................................... 1 From our Director General, Helena Leurent ............................................................................. 2 List of Trustees ....................................................................................................................... 3 Board of Trustee Members 2019-2023 (Appointed) ............................................................. 3 Council Members 2019-2023 (Advisory) .............................................................................. 3 Key Senior Management Personnel .................................................................................... 3 About Consumers International ............................................................................................... 4 Charitable objects and activities ........................................................................................... 4 Our strategy ........................................................................................................................ 4 Achievements and performance .............................................................................................. 5 Representing and influencing .............................................................................................. 6 Consumer insights ............................................................................................................... 7 Impactful projects ................................................................................................................ 8 Fundraising and partnerships .................................................................................................. 8 Governance ............................................................................................................................ 9 Our structure ....................................................................................................................... 9 Trustee induction and training .............................................................................................. 9 Remuneration .............................................................................................................................. 10 Financial review, reserves policy and risk management ................................................................. 10 Financial review ................................................................................................................. 10 Reserves policy ................................................................................................................. 10 Risk assessment ............................................................................................................... 11 Trustees’ responsibilities statement ................................................................................... 11 Statement as to disclosure of information to auditor ........................................................... 12 Auditor’s report ...................................................................................................................................... 13 Financial Statements ............................................................................................................. 16 



## From our President, Dr. Marimuthu Nadason 

_Dr. Marimuthu Nadason became President at Consumers International’s General Assembly in May 2019 and is serving a four-year term. Dr. Nadason is also the President of the Federation of Malaysian Consumer Associations (FOMCA)._ 

Four years into my Presidency, I remain extraordinarily impressed by the ambition of Consumers International. In the past few years, the organisation has gone from strength to strength, building new areas of focus and providing rapid response to crises. From COVID-19 to the current cost-of-living and climate crises, we have demonstrated the power of solutions which place consumers at the heart of dialogue and action. 

In particular, the challenges of 2022 exemplified the pressing need to find sustainable solutions to systemic challenges. In response to the cost-of-living crisis, we saw our Members call for sustainable agriculture and energy solutions and strengthened support for vulnerable consumers. In our COP27 video address, Members shared initiatives such as building local and sustainable food distribution models in Mumbai (Mumbai Grahak Panchayat, India) and campaigning for safe use of solar energy solutions as a solution to energy access problems (Yemen Association for Consumer Protection). 

World Consumer Rights Day was a particular highlight this year, where we raised the call for fair digital finance worldwide. It was inspiring to see such a diverse range of voices come together to highlight this emerging area of concern for consumer advocates. I was also pleased to see our digital strategy taking hold, as innovations such as Artificial Intelligence, XR and more bring with them unchartered waters of opportunity - and potential risk - for consumers. 

The successes I share here are just some of those you will find in this report, for which I extend sincere gratitude to our Members and the team at Consumers International. Your dedication and tenacity are delivering real change for consumers worldwide. I look forward to deepening our impact for the remainder of my Presidency and beyond. 

_Dr. Marimuthu Nadason Date: 6 July 2023_ 

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## From our Director General, Helena Leurent 

At Consumers International, we are demonstrating how consumer advocacy can help meet global challenges. In 2022, consumers felt the weight of a difficult year, with many facing the worst cost-of-living crisis in a generation. In a survey of our Members, every respondent answered that food prices had risen in their country. We found that many have been thrust into impossible situations, scrambling to pay mounting energy bills and even cutting out meals entirely. And our Consumer Protection and Empowerment Index, released exclusively to our Members early this year, showed significant gaps in consumer protection globally, demonstrating that now more than ever, work is needed to protect and empower consumers in a rapidly changing world. 

To address these challenges, we expanded our work to ensure good, affordable, and nutritious food is accessible for everyone, and our focus sharpened on the need to support consumers through the transition to clean energy. A standout moment was our influence at UNCTAD, where we collaborated with Member States to put ‘consumer protection in energy transitions’ on the agenda for the 2023 Intergovernmental Group of Experts on Consumer Protection Law and Policy. Our World Consumer Rights Day campaign for Fair Digital Finance highlighted that the way we spend, save and borrow money is changing. Launched on World Consumer Rights Day, our Fair Digital Finance Accelerator is strengthening connections between consumer groups and regulators, to ensure new financial technologies work for consumers everywhere. And crucially, we are helping consumers prepare for the radical shifts needed to meet climate goals. We welcomed the Intergovernmental Panel on Climate Change’s acknowledgement of the powerful role consumers play in reaching net zero - but stress that this will only happen if consumers are supported effectively by government and business. 

We believe in the power of collaboration between consumer advocates, civil society, business, government, academics and intergovernmental organisations. In 2022 we forged and continued changedriven partnerships with renowned global organisations including the Rockefeller Foundation, Ford Foundation, and the Bill & Melinda Gates Foundation. We also worked alongside leading research organisations including Enel Foundation, Cenfri, and the International Institute for Sustainable Development. 

Finally, our remote-first team branched out across the world. Our staff increasingly reflect the global nature of our work, representing Consumers International in Latin America, Africa and Europe. Consumer organisations joined us as Members from Nepal, Poland, Angola and beyond, demonstrating the exceptional reach of the global consumer movement. Our Members sit at the heart of everything we do. They provide a trusted voice to consumers across the world and demonstrate every day the power of consumer advocacy in creating real change in people’s lives. 

_Helena Leurent Date: 6 July 2023_ 

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## List of Trustees 

The Board of Trustees is pleased to present this report and the financial statements for the year ended 31 December 2022. 

The financial statements have been prepared in accordance with applicable United Kingdom Accounting Standards, the Charities Statement of Recommended Practice (FRS 102) and the Companies Act 2006. 

The audited accounts reflect the worldwide results for the organisation, including the activities of its constituent regional hubs. 

The Trustees confirm that they have paid due regard to the Charity Commission’s general guidance on public benefit: “Charities and Public Benefit”. 

The Directors of the charitable company (the charity) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. 

## Board of Trustee Members 2019-2023 (Appointed) 

Crisólogo Cáceres Valle - Asociación Peruana de Consumidores y Usuarios (ASPEC), Peru Rocio Concha – Which? UK; Treasurer Alan Kirkland - CHOICE, Australia Marimuthu Nadason - Gabungan Persatuan-Persatuan Pengguna-Pengguna Malaysia (FOMCA); President Anja Philip - Forbrugerrådet Tænk (Danish Consumer Council); Honorary Secretary Rosemary Shumirayi Chikarakara Mpofu - Consumer Council of Zimbabwe Marta Tellado - Consumer Reports (CR), USA Gilly Wong - Hong Kong Consumer Council (HKCC); Vice President Sandra Molenaar – Consumentenbond, from September 2022 Ivo Mechels, Test-Achats/Test-Aankoop; Treasurer, until May 2022 

## Council Members 2019-2023 (Advisory) 

Asociación Peruana de Consumidores y Usuarios (ASPEC) - Crisólogo Cáceres Test-Achats/Test-Aankoop, Belgium - Ivo Mechels Centro para la Defensa del Consumidor (CDC), El Salvador - Danilo Manuel Pérez Montiel CHOICE, Australia - Alan Kirkland Citizen Consumer and Civic Action Group (CAG), India - Saroja Sundaram International Confederation of Consumer Societies (KONFOP), Russian Federation - Dmitriy Yanin Consumentenbond, The Netherlands - Sandra Molenaar Consumer Awareness Organisation (CAO), Nigeria - Felicia Monye Consumer Council of Fiji (CCF) - Seema Nareeta Shandil Consumer Council of Zimbabwe (CCZ) - Rosemary Shumirayi Chikarakara Mpofu Consumer Reports (CR), USA - Marta Tellado Consumers Korea (CK) – Youkyung Huh Forbrugerrådet Tænk (Danish Consumer Council); Honorary Secretary - Anja Philip Gabungan Persatuan-Persatuan Pengguna-Pengguna Malaysia (FOMCA); President - Marimuthu Nadason 

Hong Kong Consumer Council (HKCC); Vice President - Gilly Wong Rwanda Consumer’s Rights Protection Organization (ADECOR) - Damien Ndizeye Sudanese Consumers Protection Society (SCPS) - Yasir Suliman Tribuna (Tribuna Ecuatoriana de Consumidores y Usuarios), Ecuador - María José Troya Verbraucherzentrale Bundesverband (vzbv), Germany – Ramona Pop, from October 2022 Which?, United Kingdom - Rocio Concha 

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## Key Senior Management Personnel 

Director General - Helena Leurent Director of Partnerships and Development - Josephine Parmee Director, Consumer Rights, Innovation and Impact - Peter Andrews Head of Finance and Organisation Development - Thushani Mediwake Head of Communications and Membership – Charlotte Broyd, from February 2022 Head of Programme, Digital Finance – Sheila Senfuma, from March 2022 

## About Consumers International 

Consumers International is the Membership organisation for consumer groups around the world. 

We believe in a world where everyone has access to safe and sustainable goods and services. We bring together 200 Member organisations in more than 100 countries to empower and champion the rights of consumers everywhere. 

We are their voice in international policy-making forums and the global marketplace to ensure they are treated safely, fairly and honestly. 

We are resolutely independent, unconstrained by businesses or political parties. We work in partnership and exercise our influence with integrity, tenacity and passion to deliver tangible results. 

## Charitable objects and activities 

Consumers International was formerly known as the International Organisation of Consumers Unions (IOCU) and was started as a not-for-profit NGO in 1960. The object for which the charity was formed is to promote consumer rights and education and to promote the voluntary sector for the public benefit with the object of promoting consumer rights. In particular, but not exclusively, by providing conferences and seminars, representing groups in terms of government policies, providing information and liaising between relevant groups. The Consumers International strategy sets out our major activity areas and progress is measured and monitored by the Consumers International management team and Board with the support of monitoring tools which include key performance indicators. Our strategy and achievements for 2022 are set out in this report. 

## Our strategy 

We enable consumer advocacy to put consumers at the heart of the debate and shape the systems that impact consumers across key areas. We achieve this through: 

**Connecting Members to share ideas** : We support our Members to connect with each other and draw on the collective experience of our global network to share insights and collaborate on a wide range of consumer issues. 

**Representing and influencing:** We represent consumers and our Members in the international marketplace and global policy-making forums, bringing the consumer voice to decision-makers at the highest levels. 

**Convening a broader network around consumer programmes:** We recognise that no single organisation can achieve the level of change required to ensure that consumers are treated safely, fairly and honestly. We bring together our Members, along with the foremost experts from around the world, as 

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well as a global network of governments, civil society, businesses and funders to tackle consumer challenges or opportunities. 

**Driving impact through projects and innovation:** We run externally funded projects across a range of consumer topics - including across our Change Agenda programmes - focusing on generating impact for consumers everywhere. We seek new opportunities to accelerate positive consumer outcomes and generate new income where opportunities arise. 

## Achievements and performance 

## Connecting Members to share ideas 

Our work brings together consumer advocates and experts from 200 consumer associations around the world. We connect our dynamic, diverse Membership through workshops, task forces, and networks to create impact for consumers globally. 

In 2022, we held Global Member Connects, webinars, task force meetings and workshops to advance discussion and impact across our change agenda. We also brought our Members’ voices and insights to major global events and international fora. Highlights include: 

- Expansion of our **Next Generation Leaders Network** , established in 2020 to give a platform to the young consumer voice. We launched our skills-focussed series to empower the next generation of consumer advocates. Our first session on International Youth Day explored effective messaging and delivery to global leaders. Next Generation Leaders made public calls for greater intergenerational solidarity in the consumer advocacy movement. 

- Bringing together 46 representatives from consumer protection authorities, consumer rights organisations, intergovernmental organisations and energy transition experts from over 20 different countries for our **workshop on consumer protection and empowerment in clean energy transitions.** Together, we identified an urgent need for greater engagement and collaboration between actors involved in consumer protection, energy policy and regulation, and the energy sector. 

- Our **special discussion on the crisis in Ukraine,** which convened consumer advocates from Ukraine, Poland, Kenya and the US to explore how the consumer movement can unite in support of Ukraine and help mitigate the impacts of the cost-of-living crisis worldwide. 

- At the **UN Climate Change Conference (COP27)** we released policy actions and a call to action developed in collaboration with our Members. In our address to energy leaders, we were joined by consumer advocates from Consumentenbond (Netherlands) to the Federation Nationale Des Associations Du Consommateur Maroc (Morocco), CHOICE (Australia) and others. 

## **World Consumer Rights Day** 

Celebrated annually on March 15, World Consumer Rights Day highlights the power of the consumer movement and unites advocates from across the world to call for a fair, safe and sustainable marketplace. In 2022, our World Consumer Rights Day campaign focussed on **‘Fair Digital Finance’** . Our message reached 1.2 million consumers and engaged 95 Members worldwide, whose events and initiatives helped to drive change at the national level. 

Across the week of World Consumer Rights Day, Consumers International hosted the **Fair Digital Finance Forum** , the first of its kind to focus on consumer dialogue and impact. The forum brought together academics, financial technology (fintech) experts, and representatives from government, business, and civil society to highlight the challenges facing consumers in a quickly evolving digital finance environment. 

Multi-stakeholder actors united with consumer advocates under our **‘Consumer Vision for Fair Finance’** , calling for an inclusive, safe, data-protected, private, and sustainable digital finance marketplace. We also 

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led a joint call for action with 11 Members across nine countries including Consumer NZ (New Zealand), Consumer Reports (USA) and Consumers Korea, calling for commitments to regulate the emerging market of **Buy Now Pay Later** financial products. This later saw a commitment to regulation from the Australian Government. 

## **Supporting consumer advocates in low- and middle-income countries** 

Many of our projects focus on promoting consumer advocacy in low- and middle-income countries, these include: 

- Launched this year, the **Fair Digital Finance Accelerator** aims to strengthen regulatory frameworks for digital financial services. It supports consumer associations in low- and middleincome countries to become experts in consumer protection for digital finance and build bridges with regulators and service providers. 

- **Consumer Voice for Fair Food Prices** , a project in collaboration with The Rockefeller Foundation, will work with consumer associations in Africa to take action on **unfair food prices.** 

Consumers International also champions consumers in low- and middle-income countries through grants and funding. These include: 

- The **Green Action Fund** , centred on sustainable consumption and reducing poverty. The fund issues grants to consumer associations in low-and middle-income countries that deliver innovative sustainability activities - from awareness-raising to training to educational initiatives. In 2022, we awarded grants to 27 Consumers International Members who then united for Green Action Week in October where they shared diverse ways consumers can be empowered to drive forward sustainability. The fund is made available by our partner the Swedish Society for Nature Conservation (SSNC) and is administered by Consumers International. 

- **The Anne Fransen Fund** , founded in 1988. The Anne Fransen fund is our annual grant prize promoting the growth of the consumer movement in low- and middle-income countries. In 2022, Consumers International awarded funding to five Members. The fund is made available by Consumentenbond and is administered by Consumers International. 

## Representing and influencing 

A central part of our strategy is bringing the consumer perspective to global fora and ensuring consumer rights and principles are heard at the highest levels for impact. 

In 2022, we highlighted the challenges facing consumers and the potential for solutions which place consumers at the heart of dialogue and action. Highlights include: 

- Consumers International was invited to join the **United Nations Secretary General’s Global Crisis Response Group** , to provide unique insight into the challenges facing consumers worldwide and call for measures to protect consumer access to food, energy, and other basic needs. We were invited to share findings from our report ‘Consumers in crisis: an action agenda for future food systems’ and the group used our Global Cost-of-Living Member Survey, collating responses from 60+ of our Members, to understand the ways consumers are being affected across economies and where to focus attention. 

- At the **2022 United Nations Climate Change Conference (COP27** ) we built bridges between unlikely stakeholders to drive global collaboration and action on energy, food, and finance. We convened Indigenous, farmer and business voices to explore sustainable consumption pathways for food, in partnership with the We Mean Business Coalition, a network of business-focussed climate organisations. And with the World Energy Council, we brought together an all-women panel of energy leaders to explore the role consumer advocacy can play in progressing clean and just energy transitions. 

- We championed the voice of consumer advocates at **UNCTAD’s Intergovernmental Group of Experts (IGE) on Consumer Protection Law and Policy** . As our focus sharpens on the need to protect consumers through clean energy transitions, we rallied with Member States to see the inclusion of ‘consumer protection and the energy transition’ as an agenda item at the IGE’s session 

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   - in 2023. We presented to the group Member insight from Consumers Korea, vzbv (Germany) and Myanmar Consumers Union on product safety and financial consumer protection. 

- We contributed to the 2022 review of the **OECD/G20 High-Level Principles of Financial Consumer Protection** , where we pushed for stronger protections for vulnerable and low-income consumers. 

- At the **World Economic Forum Annual Meeting,** we joined leading civil society organisations in a call against unchecked surveillance technology. To inform a better government and business response to the cost-of-living crisis, we emphasised how consumers are being impacted by rising prices and through select examples from our work, such as fair finance (see impactful projects below), we demonstrated the invaluable role of consumer advocacy in building bridges between business, government and consumers. 

- We participated in the **OECD Advisory Group on Dark Patterns** in online services and the OECD Roundtable on **Consumer Access & Use of Data** . We also organised panels at RightsCon, the premier global event for civil society on digital rights where we co-hosted a roundtable with Digital Hub Asia. 

- At **regional fora** such as the OAS Consumer Health and Safety Network, COMPAL, the IberoAmerican and Caribbean Network for Regulatory Improvement and the Superintendence of Industry and Commerce of Colombia, we presented insights and recommendations from our Online Product Safety Guidelines and Fair Digital Finance Accelerator to governments and policymakers. 

## Insight with and for Consumers 

In 2022, we leveraged the unique knowledge and insights of our Members to build solutions to the diverse challenges facing consumers in 2022. 

- Our **Consumer Protection and Empowerment Index** is the first-ever global measurement of consumer protection and empowerment. Assessing 80 countries worldwide, it charts the global digital divide, differences in national sustainability efforts, and stresses the need for more action to protect vulnerable consumers. 

- Our **Global Cost-of-Living Member Survey** captured how the cost-of-living crisis is affecting consumers. Every respondent highlighted that food prices have risen in their country since the start of the crisis, in many cases in excess of 50% or even 100%. Members responded that consumers in many countries are skipping meals or eating less to mitigate rising prices. 

- Stepping-up our work to put consumer protection and empowerment at the centre of the transition to clean energy, our ‘ **Consumer Empowerment in Clean Energy Transitions’** snapshot identified the technological, infrastructural, and knowledge-related barriers standing in the way of transformative consumer action. 

- Our ‘ **Action Agenda for Future Food Systems’** set out how to build sustainable, affordable food systems. Featuring deep dives on Ecuador, Indonesia, and Kenya, we found that the food crisis has exposed the fragility of overconcentrated food systems and call for a transformation that prioritises action against excessive prices, supply chains that are rooted in food sovereignty and agroecology, and stronger standards on safety, nutrition and sustainability. 

- **‘A consumer investigation into personalised pricing’** explored how consumers are affected by algorithmic pricing structures. In collaboration with Mozilla Foundation, our research across six countries - the US, the Republic of Korea, New Zealand, India, the Netherlands and Brazil - found some users of the same dating app service were unknowingly being charged up to five times more based on an opaque pricing structure where age was found to be a determinant. The dating service investigated has committed to phasing out age-based pricing by mid-2022. 

- Together with TechAccord and I am the Cavalry, we released a joint statement, ‘ **Industry, hackers and consumers for a global baseline for consumer Internet of Things (IoT) security** ’. The statement convened more than 400 organisations globally to recognise a multistakeholder consensus on baseline cyber security provisions for consumer IoT devices. 

- To guide the design of our Fair Digital Finance Accelerator, we conducted a **baseline survey of over 40 consumer associations in low- and middle- income countries** . The survey exposed the level of dissatisfaction with digital financial service regulatory frameworks; 45% 

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reported that digital finance service policies in their country are ‘unsatisfactory’, and a further 45% called for ‘extensive improvements’. 

## Impactful projects 

We work to build a world where consumers everywhere have access to a marketplace that is safe, fair, and sustainable. Our projects find solutions to consumer challenges from across our Change Agenda, from protecting consumers in a rapidly changing digital world, to the urgent need to shift our consumption habits towards sustainable options. Our projects include: 

- **Fair Digital Finance Accelerator** . During World Consumer Rights Day, we launched our innovative network of consumer associations fighting for a future where consumers everywhere can benefit from financial inclusion. The Accelerator is advised by an advisory panel of 13 experts and senior leaders, including representatives from the Bill & Melinda Gates Foundation, Consultative Group to Assist the Poor (CGAP), Better than Cash Alliance, Consumer Council of Zimbabwe, GSMA and other leading voices in fair digital finance. By the end of 2022, the network had trained 180+ consumer advocates and brought together 40+ consumer associations across 40 countries in South America, Africa, Europe, the Middle East, and Asia. The Fair Digital Finance Accelerator is funded by the Bill & Melinda Gates Foundation, with support from the Consultative Group to Assist the Poor (CGAP). 

- **GreEnCommerce** . Launched in 2022 with support from Amazon and implemented in partnership with the International Institute for Sustainable Development (IISD, Consumers International led a new global research project to grasp the opportunity for change in sustainable consumption in e- commerce, gathering insights and expertise from a global, multi-stakeholder group of e-commerce actors, policy-makers, and consumer protection agencies. As influential leaders convened at Stockholm+50, our recommendations to policy-makers highlighted the need to combat misleading green claims and promote consumer education and awareness about product sustainability. 

- **Consumer Information Programme (CI-SCP)** . As part of our work advancing global goals, we co-lead the programme as part of the UN’s One Planet Network and one of the official implementation mechanisms of Sustainable Development Goal 12. Highlights from the year include joining the CI-SCP Turning Information into Action Conference, where 1100+ sustainable consumption experts and advocates came together to identify solutions to sustainable consumption challenges. This included amplifying the voice of our Next Generation Leaders from Nepal and Panama to share youth perspectives on actions needed from leaders, on topics from food policy to biodiversity. 

- **Consumer Voice for Fair Food Prices** . Work began on our new project, in collaboration with The Rockefeller Foundation. Finding collaborative solutions to unfair food prices in Africa, the project will empower consumer advocates and mobilise policy-makers across the region to take action, raise awareness and drive change. 

## Fundraising and partnerships 

Over the year, we worked with leading organisations in the public, private and non-profit sectors to tackle specific consumer challenges and opportunities. We are thankful for the funding and support we received from our partners, which has enabled us to continue delivering positive outcomes for consumers from around the globe, including: 

- **German Environment Ministry** : 10YFP Consumer Information Programme for Sustainable Consumption and Production 

- **Swedish Society for Nature Conservation** : Green Action Fund 

- **Consumentenbond** : Anne Fransen Fund 

- **Bill & Melinda Gates Foundation** : Fair Digital Financial Accelerator 

- **Ford Foundation** : Digital consumer rights in low- and middle-income countries 

- **Ford New Venture Fund (Media Democracy Fund)** : Digital technologies for consumer protection 

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- **Amazon.com, Inc** .: Consumer sustainability information in e-commerce 

- **Enel Foundation** : Consumer protection for a clean energy future 

- **The Food and Agriculture Organization of the United Nations** : Strengthening consumer engagement with food systems transformation. 

- **The Rockefeller Foundation** : Consumer Voice for Fair Food Prices 

- **Mozilla Foundation** : A consumer investigation into personalised pricing 

## Governance 

Consumers International is a charity registered with the Charity Commission in England and Wales (No.1122155). It registered on 2 January 2008 and is governed by its Memorandum and Articles of Association, as amended 1 November 2007 and 21 November 2015. It is also a not-for-profit company limited by guarantee registered in England and Wales on 11 December 2001 (No. 04337865). 

Consumers International was formerly known as the International Organisation of Consumers Unions (IOCU). It was started as a not-for-profit NGO in 1960. 

## Our structure 

Our global staff are led by our Director General, who is guided by and accountable to Consumers International’s Board of Trustees. 

The Board of Trustees meets regularly (four times a year) and includes the President, Vice President, Honorary Secretary and Treasurer. It is ultimately responsible in law for the charity, its assets and activities. The Board delegates to the Director General to deliver the management and day-to-day running of the organisation. 

The Treasury Committee is a Committee of the Board of Trustees appointed to assist the Board in fulfilling its responsibilities in all aspects of financial management and control of the organisation. Together with the Treasurer, two other representatives of Consumers International’s Member organisations are appointed to form this group. The Treasury Committee also has oversight of the arrangements for the external audit. 

Our Council is a larger, advisory body to the Board of Trustees and meets twice a year. A key function of the Council is to appoint the Board of Trustees and to offer strategic advice on key issues to that Board of Trustees. 

Our Board and Council are made up of Senior Representatives from our full Member organisations. 

The General Assembly consists of the voting delegates of the full Members of Consumers International and generally takes place every four years when Consumers International holds its World Congress. A key function of the General Assembly is to elect the President and the Council. The President is a nonexecutive position and acts as chair of the General Assembly, the Council and the Board. 

## Trustee induction and training 

New Trustees undergo an induction meeting with the Consumers International Director General, President and legal governance advisor to brief them on their role as a trustee. This includes their governance responsibilities, Board operating and decision-making practices and process, the legal obligations under charity and company law, and the business plan and recent financial performance of the charity. New Trustees are issued with the Consumers International Articles, Guidelines for Council and Board Members and information directing them to legal advice on duties and responsibilities. They are asked to complete and return a ‘Personal Trustee Declaration form’ and a ‘Declaration of Interests form’. 

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Council Members have an advisory capacity and are given a full briefing at an induction meeting that includes their relevant governance responsibilities, Council operating practices and key strategic issues. 

## Remuneration 

The key management remuneration, including the Director General, is based on commensurate experience and the breadth and requirements of the role. Following benchmarking of market rates the Director General signs off job descriptions and pay level for key management staff. The Director General's remuneration is reviewed and authorised by the President of Consumers International and designated Trustees. 

## Financial review, reserves policy and risk management 

## Financial review 

In December 2021, the Board approved the budget for 2022 which targeted a deficit of £240,795 for the year arising primarily from restricted funds. Following the receipt of new funding for three Change Agenda programmes sourced from four Foundations and Business and underspend on Staffing costs and Overheads, we achieved an overall surplus to general funds of £647,557. The deficit for restricted funds amounts to £13,201 thus leading to a consolidated surplus of £634,356 for 2022 (2021: £461,994 surplus). 

The total income for 2022 was higher than the previous year at £2,359,686 (2021: £1,760,154) due to an increase in Funding contracts sourced with partner organisations. The Membership income for 2022 was £1,386,644 (2021: £1,357,730). Expenditure for the period increased to £1,725,330 (2021: £1,298,160). 

Included in the consolidated results are those of the subsidiary for Consumers International Services Ltd. that was registered in August 2018. A profit of £18,231 was achieved for 2022 (2021: £12,095  loss) with Income of £196,722  (2021: £15,102), Cost of sales of £170,918 (2021: £21,573) and Expenditure of £7,573 (2021: £5,624). General Funds amount to £20,089 for 2022 (2021: £6,158). 

## Reserves policy 

The general reserves for the organisation increased to £1,692,749 (2021: £1,203,124) with additional designated reserves of £245,820 (2021: £87,888). In March 2015, the Council set a 20% target of unrestricted income to be held in reserves. This equates to a target unrestricted reserves level of £376,342 (2021: £305,416) and we are therefore within our reserves target. 

Restricted reserves held at the end of 2022 were £2,529 (2021: £15,730) giving total closing reserves of £1,941,098 (2021: £1,306,742). 

We continue to maintain our Risk Reserves at levels that meet up to 3 months of operation costs and have built up strategic reserves of £60,000 per year to strengthen our financial position going forward. The Charity Commission for England and Wales guidance suggests there is no single level, or even a range of, reserves that is right for all charities. Any target set by Trustees for the level of reserves to be held should reflect the particular circumstances of the individual charity. To do this, Trustees need to know why the charity should hold reserves and, having identified those needs, the Trustees should consider how much should be held to meet them. We believe with stringent controls in place and careful monitoring of all costs, we can maintain our operations within the designated limits. 

The following reasons are stated as to why Consumers International needs to hold reserves: 

1. To maintain a sufficient level of working capital 

2. To secure the organisation against major risks 

3. To act as a cushion to cope with any unexpected costs or to avoid missing out on opportunities 

4. To grow funding for new Member services or ventures in order to grow the organisation 

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## Risk assessment 

The Trustees and senior management team review the risks the organisation is exposed to. The review looks at the key strategic risks around Consumers International’s ability to deliver its strategy and considers risk mitigation strategies. 

Consumers International, like many organisations and Members, is operating in an ever-changing landscape. To respond to this challenging environment, we must adapt and evolve to these new realities to survive and thrive. Consumers International’s top key risks that it is addressing are: 

1. Loss of unrestricted income from Membership 

2. Inability to secure investment or sponsorship for strategic development and strategic initiatives 

A significant risk to Consumers International is a loss of Members leading to a reduction of unrestricted income. A loss of a large Member will severely impact our core unrestricted income and impact our ability to maintain operations and deliver the results other Members value. To mitigate this risk Consumers International is developing its strategy to become more relevant across a broader range of global stakeholders who can help the delivery of positive consumer outcomes and create more impact through a broader network. 

To fund this strategic development, we need to secure additional core investment and contribution. We continue to build relationships with key organisations and work with our Members to secure the additional funds required. We will seek out foundations, corporate entities or social enterprise investors that are responsive to explore areas of common ground in relation to a consumer problem for public good. We are currently implementing this new strategy with the launch of our Business Engagement model and are on track to induct at least 5 new business partners by the end of the year meeting our target income of £250k. The model has been developed to cater for different business interests with three Associate community entry points identified. 

Ethical sustainable funding guardrails and protocols are in place to ensure we safeguard the organisation when accepting funding from governments, foundations and businesses. The guardrails were discussed and adopted in March 2017 as a result of our deliberations during November 2016 Council and Board meetings. 

## Trustees’ responsibilities statement 

The Trustees (who are also directors of Consumers International) are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

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

- Select suitable accounting policies and then apply them consistently 

- Observe the methods and principles in the Statement of Recommended Practice (SORP) 

- Make judgements and estimates that are reasonable and prudent 

- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company 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 charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

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

## Statement as to disclosure of information to auditor 

The directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditor is unaware. Each of the directors have confirmed that they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor. 

## Auditor 

Haysmacintyre LLP was appointed auditor by the Board of Trustees pursuant to the power under section 485(3) of the Companies Act 2006. 

In preparing this report, the directors (trustees) have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. 

By order of the Board 

……………………………….. Dr. Marimuthu Nadason, President Consumers International Date: 7 July 2023 

12 



**INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONSUMERS INTERNATIONAL FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **Opinion** 

We have audited the financial statements of Consumers International for the year ended 31 December 2022 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Cash Flow Statement and related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 

In our opinion, the financial statements: 

- give a true and fair view of the state of the group’s and of the parent charitable company’s affairs as at 31 December 2022 and of the group’s and parent charitable company’s net movement in funds, including the income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

13 



## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONSUMERS INTERNATIONAL (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **Opinions on other matters prescribed by the Companies Act 2006** 

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

- the information given in the Trustees’ Annual Report (which incorporates the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the directors’ report included in the Trustees’ Annual Report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report (which incorporates the directors’ report). 

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

- adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or 

- the parent charitable company financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Trustees’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

## **Responsibilities of trustees for the financial statements** 

As explained more fully in the trustees’ responsibilities statement set out on page 13, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

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

14 



## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONSUMERS INTERNATIONAL (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

Based on our understanding of the group and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the Companies Act 2006 and Charities Act 2011, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as corporation tax, payroll tax and sales tax. 

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included: 

- Inspecting correspondence with regulators and tax authorities; 

- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; 

- Evaluating management’s controls designed to prevent and detect irregularities; 

- Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; 

- Challenging assumptions and judgements made by management in their critical accounting estimates; and 

- Agreeing the validity of recognised receivables on a sample basis and challenging the recoverability assumptions, further assessing for any fraud or bias 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

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

## **Use of our report** 

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. 


………………………………………………………………………………… 

**Jeremy Beard (Senior Statutory Auditor)** 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditors London EC4R 1AG 

17 July 2023 Date: ……………………………………………… 

15 



## **CONSUMERS INTERNATIONAL CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (incorporating income and expenditure account) FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**Income and endowments from:**<br>**Notes**<br>**Total income**<br>**Expenditure on:**<br>**Total expenditure**<br>**Net income/(expenditure)**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>12<br>_Charitable activities_<br>Membership Fees<br>2<br>International advocacy and campaigning<br>2<br>Raising funds<br>4<br>_Charitable activities_<br>International advocacy and campaigning<br>4<br>Transfers between funds<br>11<br>Other trading activities<br>3<br>Investment income - bank interest|<br>1,227,913<br>497,417<br>1,725,330<br>647,557<br> (13,201)<br>634,356<br>1,938,569<br>2,529<br>1,941,098<br>1,291,012<br>15,730<br>1,306,742<br>1,386,644<br>-<br>1,386,644<br>-<br>477,976<br>477,976<br>**Unrestricted**<br>**Restricted**<br>**Total**<br>**Funds**<br>**Funds**<br>**funds**<br>**2022**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>1,881,710<br>477,976<br>2,359,686<br>222,194<br>-<br>222,194<br>1,005,719<br>497,417<br>1,503,136<br>653,797<br>(19,441)<br>634,356<br>(6,240)<br>6,240<br>-<br>490,174<br>-<br>490,174<br>4,892<br>-<br>4,892|1,357,730<br>233,063<br>**Total**<br>**funds**<br>**2021**<br>**£**<br>169,348<br>13|
|---|---|---|
|||1,760,154|
|||188,362<br>1,109,798|
|||1,298,160|
|||461,994|
|||-|
|||461,994|
|||844,748<br>1,306,742|



All income arises from the continuing activities of the charity. There were no other recognised gains or losses other than those stated above. 

The notes on pages 19 to 31 form part of these financial statements. 

16 



## **CONSUMERS INTERNATIONAL CONSOLIDATED AND CHARITY BALANCE SHEETS AS AT 31 DECEMBER 2022** 

## **Company registered number: 04337865** 

|**Notes**<br>**FIXED ASSETS**<br>**CURRENT ASSETS**<br>Net current assets<br>**Total net assets:**<br>**Total charity funds**<br>Tangible assets<br>7<br>Investment in subsidiary<br>8<br>Debtors<br>9<br>Cash at bank and in hand<br>**CREDITORS:**amounts falling due<br>within one year:<br>10<br>**The funds of the charity:**<br>Restricted income funds<br>11, 12<br>Unrestricted funds<br>Designated funds<br>11, 12<br>General funds<br>11, 12|**Group**<br>**Charity**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>1,929,573<br>1,909,485<br>1,941,098<br>1,921,011<br>245,820<br>245,820<br>1,692,749<br>1,672,662<br>1,941,098<br>1,921,011<br>11,525<br>11,525<br>-<br>1<br>11,525<br>11,526<br>86,492<br>215,436<br>2,508,535<br>2,386,527<br>2,595,027<br>2,601,963<br>(665,454)<br>(692,478)<br>2,529<br>2,529|**Group**<br>**2021**<br>**£**<br>16,113<br>-|**Charity**<br>**2021**<br>**£**<br>16,113<br>1|
|---|---|---|---|
|||16,113<br>58,722<br>2,169,426|16,114<br>75,270<br>2,026,409|
|||2,228,148<br> (937,519)|2,101,679|
||||(817,208)|
|||1,290,629|1,284,471|
|||1,306,742|1,300,585|
|||87,888<br>1,203,124<br>15,730|87,888<br>1,196,967<br>15,730|
|||1,306,742|1,300,585|



Approved by the Trustees and authorised for their issue on 7 July  2023 and signed on their behalf by: 

………………………………………………… Dr. Marimuthu Nadason 

The notes on pages 19 to 31 form part of these financial statements. 

17 



**CONSUMERS INTERNATIONAL CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**Notes**<br>**Cash flows from operating activities:**<br>634,356<br>**Change in cash and cash equivalents in the year**<br> **327,424**<br> <br>**Cash and cash equivalents at 31 December**<br> **2,508,535**<br>**Reconciliation of net debt**<br>There are no debt instruments held, the only net debt is cash and cash equivalents.<br>2,508,535<br>2,169,426<br>11,685<br>**Group**<br>**2022**<br>**£**<br>Net income/(expenditure) for the year<br>_Adjustments for:_<br>Bank interest received<br>Depreciation charges<br>Profit / loss on disposal of TFA<br>Impairment of debtors for bad debts<br>Decrease / (Increase) in debtors<br>Increase/ (Decrease) in creditors<br>**Net cash (used in)/provided by operating activities**<br>**Analysis of cash and cash equivalents**<br>Cash in hand<br>(4,892)<br>(10,135)<br>-<br>8,603<br>(27,770)<br>(272,065)<br>**328,097**<br>**Cash flows from investing activities:**<br>Bank interest received<br>Purchase of fixed assets<br>**Net cash used in investing activities**<br>4,892<br>(5,565)<br>**(673)**<br>Cash and cash equivalents at 1 January<br>Change in cash and cash equivalents due to exchange rate<br>movements|461,994<br>**Group**<br>**2021**<br>**£**<br>(13)<br>(11,852)<br>-<br>15,425<br>45,333<br>674,022|
|---|---|
||**1,184,909**<br>13<br>(12,978)|
||**(12,965)**|
||**1,171,944**<br>989,203<br>8,279|
||**2,169,426**|
|||
||2,169,426|



The notes on pages 19 to 31 form part of these financial statements. 

18 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **1 ACCOUNTING POLICIES** 

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 

## **1.1 ACCOUNTING CONVENTION** 

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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

Consumers International meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy notes. 

## **1.2 BRANCHES / SUBSIDIARY UNDERTAKING AND CONSOLIDATION** 

The financial statements aggregate the results of Consumers International (Global Office) and the Regional Hubs: Regional Hub for Asia and the Pacific (Malaysia) – ceased operations June 2021 Regional Hub for Latin America and the Caribbean (Chile) 

Regional Hub for Africa (South Africa) – ceased operations June 2021 

Where necessary, the accounts of the regional offices have been restated in order to comply with the United Kingdom Generally Accepted Accounting Practice. 

The group Statement of Financial Activities (SOFA) and the group Balance Sheet consolidate on a line by line basis the results of the charitable company and its subsidiary, Consumers International Services Ltd, registered in England and Wales, of which the charity holds 100% of the share capital. Consumers International has taken advantage of the exemptions afforded by Section 408 of the Companies Act 2006 and not presented a SOFA for the charitable company itself. 

## **1.3 GOING CONCERN** 

The Trustees have prepared the financial statements on the going concern basis. On reviewing the budget, given all large contributors are expected to settle their membership fees for 2023, with mitigating actions in place to reduce costs in the event of a shortfall, Trustees are of the view that no material uncertainties about the entities ability to continue as a going concern exist. 

## **1.4 FUND ACCOUNTING** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or grantmaking bodies, or funds which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. 

19 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **1 ACCOUNTING POLICIES (continued)** 

## **1.5 INCOME** 

All income is included in the statement of financial activities when the charity is entitled to the income, receipt is probable and the amount can be measured reliably. 

Members’ fees and all other income are recognised on a receivable basis. Project income is considered to represent principally performance-related grants and, therefore, is recognised, as it is earned, to the extent that the organisation has provided the services or activities specified in the underlying funding agreement. Income received for project work in future periods is deferred. 

## **1.6 EXPENDITURE** 

Expenditure is accounted for on an accruals basis where there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All costs are allocated to either unrestricted charitable activities or to the external project to which they relate. Overhead contribution from project income is deducted from office and administration expenditure and related staff costs incurred in the year. 

Amounts transferred to partner organisations, previously referred to as 'grants', have been deemed to reflect a method of incurring direct expenditure via partner organisations, with all original source documentation obtained and accounted for and any unspent funds are clawed back from the partner organisation. 

## **1.7 CAPITALISATION POLICY** 

Any item over £1,000 in value where its economic benefit could be accrued over multiple years of its useful life are capitalised and depreciated on the above basis. 

## **1.8 DEPRECIATION** 

Tangible fixed assets are stated in the balance sheet at cost less depreciation and any impairment, which is calculated to write off the individual assets over their estimated useful lives at the following annual rates: 

Building improvements straight-line over the life of the lease Furniture, fittings and equipment 4 years straight line Computer hardware and software 3 years straight line 

## **1.9 FOREIGN CURRENCY** 

Transactions denominated in foreign currency are translated into sterling at the average exchange rate for each month. 

Exchange differences arising from the translation of the regional office accounts (and the subsidiary undertaking) are included in the SOFA. Exchange differences arising from the translation into sterling of assets and liabilities denominated in foreign currencies are translated using the exchange rate ruling at the balance sheet date. All exchange differences are taken to the respective funds within the SOFA. 

Brought forward reserves of the Regional Office accounts are retranslated at the closing exchange rate ruling at the balance sheet date and this movement is reflected as a retranslation gain or loss within other recognised gains and losses in the SOFA. 

20 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **1 ACCOUNTING POLICIES (continued)** 

## **1.10 LEASING TRANSACTIONS** 

Operating lease rentals transactions are charged to the SOFA on a straight-line basis over the life of the relevant lease. 

## **1.11 EMPLOYEE BENEFITS** 

Consumers International operates a defined contribution pension scheme. The assets of the scheme are held independently from those of the charity in an independent fund. Contributions are recognised when due and charged to the Statement of Financial Activities. 

Short term benefits including holiday pay are recognised as expenses in the period the service is received. 

Employee termination benefits are accounted for on an accruals basis and in line with FRS 102. 

## **1.12 FINANCIAL INSTRUMENTS** 

The group has elected to apply the provisions of Section 11 ‘Basis Financial Instruments’ and Section 12 ‘Other Financial Instruments’ of FRS 102, in full to all of its financial instruments. Financial assets and liabilities are recognised when the group becomes a party to the contractual provisions of the instrument, and are offset only when the group currently has a legally enforceable right to set off the recognised amounts and intends to settle on a net basis, or to realise the asset and settle the liability simultaneously. 

## Financial assets 

Debtors which are receivable within one year and which do not constitute a financial transaction are initially measured at the transaction price. Trade debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. A provision for impairment of debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised within the SOFA for the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised are recognised immediately in the SOFA. 

## Financial liabilities 

Creditors payable within one year that do not constitute financing transactions are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. 

## **1.13 CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT** 

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, occasionally not equal the related actual results. 

The financial statements contain a doubtful debt provision of £32,451 (2021: £39,797). 

The financial statements further contain a provision for dilapidation costs on ending the office lease in June 2022, for which the exemption to disclose the amount has been taken due to commercial sensitivity. 

21 



## **CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**2**<br>**3**|Membership contributions<br>Full members<br>Affiliate members<br>Government and supporter members<br>Project Income<br>International advocacy and campaigning<br>**CHARITABLE ACTIVITIES**<br>**OTHER TRADING ACTIVITIES**<br>Sponsorship<br>Rental income<br>Other grant income|1,346,673<br>22,160<br>17,811<br>1,386,644<br>477,976<br>1,864,620<br>**2022**<br>**£**<br>**2022**<br>**£**<br>-<br>15,289<br>474,885<br>490,174|1,317,192<br>21,942<br>18,596<br>**2021**<br>**£**|
|---|---|---|---|
||||1,357,730<br>233,063<br>1,590,793|
||||**2021**<br>**£**<br>-<br>33,126<br>136,222|
||||169,348|



|Direct salary costs<br>168,297<br>507,605<br>675,902<br>Other direct costs<br>-<br>630,922<br>630,922<br>Support costs<br>53,897<br>364,609<br>418,506<br>222,194<br>1,503,136<br>1,725,330<br>**Prior year**<br>Direct salary costs<br>93,292<br>303,007<br>396,299<br>Other direct costs<br>-<br>246,654<br>246,654<br>Support costs<br>95,070<br>560,137<br>655,207<br>188,362<br>1,109,798<br>1,298,160<br>**Analysis of support costs**<br>**Raising**<br>**Funds**<br>**International**<br>**Advocacy &**<br>**Campaign**<br>**Total**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**2022**<br>**£**<br>**4 ANALYSIS OF EXPENDITURE**<br>**International**<br>**Advocacy &**<br>**Campaign**<br>**Raising**<br>**Funds**<br>**Total**<br>**2022**<br>**£**<br>**£**<br>**£**<br>Salary costs for support staff<br>Accommodation<br>IT, website and maintenance<br>Legal and professional<br>Governance<br>Other office and administrative costs<br>279,717<br>47,261<br>43,436<br>57,773<br>31,510<br>(41,191)<br>418,506|Direct salary costs<br>168,297<br>507,605<br>675,902<br>Other direct costs<br>-<br>630,922<br>630,922<br>Support costs<br>53,897<br>364,609<br>418,506<br>222,194<br>1,503,136<br>1,725,330<br>**Prior year**<br>Direct salary costs<br>93,292<br>303,007<br>396,299<br>Other direct costs<br>-<br>246,654<br>246,654<br>Support costs<br>95,070<br>560,137<br>655,207<br>188,362<br>1,109,798<br>1,298,160<br>**Analysis of support costs**<br>**Raising**<br>**Funds**<br>**International**<br>**Advocacy &**<br>**Campaign**<br>**Total**<br>**2021**<br>**£**<br>**£**<br>**£**<br>**2022**<br>**£**<br>**4 ANALYSIS OF EXPENDITURE**<br>**International**<br>**Advocacy &**<br>**Campaign**<br>**Raising**<br>**Funds**<br>**Total**<br>**2022**<br>**£**<br>**£**<br>**£**<br>Salary costs for support staff<br>Accommodation<br>IT, website and maintenance<br>Legal and professional<br>Governance<br>Other office and administrative costs<br>279,717<br>47,261<br>43,436<br>57,773<br>31,510<br>(41,191)<br>418,506|<br>396,299<br> <br>246,654<br> <br>655,207<br>**Total**<br>**2021**<br>**£**|
|---|---|---|
|||<br>1,298,160|
|||**2021**<br>**£**<br>308,320<br>218,865<br>42,406<br>42,810<br>23,675<br>19,131<br>655,207|
||||



22 



## **CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

|Foreign exchange (loss)/gain<br>Auditor's remuneration (excluding VAT)<br>Audit fees for the group<br>Other services<br>Depreciation<br>Operating Lease Rentals - Land and Building<br>**5 THE SURPLUS IS STATED AFTER CHARGING**<br>**6 STAFF COSTS**<br>Staff costs were as follows:<br>Wages and Salaries (including temp staff)<br>Social security costs<br>Contributions to defined contribution pension schemes<br>Redundancy Costs|15,062<br>**2022**<br>**£**<br>24,050<br>9,031<br>10,136<br>42,966<br>**2022**<br>**£**<br>888,015<br>40,676<br>26,928<br>-<br>955,619|(8,957)<br>**2021**<br>**£**<br>20,600<br>8,340<br>11,852<br>90,252|
|---|---|---|
|||**2021**<br>**£**<br>609,542<br>73,279<br>18,032<br>3,766|
|||704,619|



During the year, none of the trustees have been paid remuneration or received any other benefits from employment with Consumers International or its subsidiary, Consumers International Services Ltd. Trustees were not reimbursement any expenses (2021 – none). 

The key management personnel of the charity comprise the Trustees and senior management team set out on page 4. The total employee costs of key management personnel for the year were £521,061 (2021: £424,686). 

||**2022**|**2021**|
|---|---|---|
||**No.**|**No.**|
|Average monthly number of employees:|20|16|
|The number of higher paid employees was:|||
|£60,001 - £70,000|1|-|
|£70,001 - £80,000|1|1|
|£80,001 - £90,000|1|-|
|£180,001 - £190,000|1|-|
|£190,001 - £200,000|-|1|



The company paid pension contributions of £15,255 (2021: £7,056) in respect of the above employees. 

23 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **7 TANGIBLE FIXED ASSETS** 

|At 31 December 2021<br>**Cost:**<br>At 1 January 2022<br>Additions<br>Disposals<br>**At 31 December 2022**<br>**Depreciation:**<br>At 1 January 2022<br>Charge for the year<br>On disposals<br>**At 31 December 2022**<br>**Net book value**<br>At 31 December 2022||119,097<br>55,701<br>170,108<br>-<br>-<br>5,565<br>(119,097)<br>(55,701)<br>-<br>-<br>-<br>175,673<br>**Leasehold**<br>**Building**<br>**Improvements**<br>**Office**<br>**Furniture,**<br>**Fittings and**<br>**Equipment**<br>**Computer**<br>**Hardware**<br>**and**<br>**Software**<br>**£**<br>**£**<br>**£**<br>119,097<br>55,683<br>154,013<br>-<br>-<br>10,135<br>(119,097)<br>(55,683)<br>-<br>-<br>-<br>164,148<br>-<br>-<br>11,525|344,906<br>5,565<br> (174,798)<br>**Total tangible**<br>**fixed assets**<br>**£**|
|---|---|---|---|
||||175,673|
||||328,793<br>10,135<br> (174,780)<br>164,148<br>11,525|
|||||
|||||
|||-<br>18<br>16,095||
||||16,113|



## **8 INVESTMENT IN SUBSIDIARY** 

Consumers International Services Ltd. is a wholly owned trading subsidiary, registered in England and Wales (Registration No. 11494269) with registered address 70 White Lion Street, London, N1 9PP. It's performance and financial position is summarised below: 

|**Profit and loss**<br>Turnover<br>Cost of sale<br>Gross Profit/(loss)<br>Admin expenses<br>Profit/(loss) for the year<br>Equity as at 1 January<br>Gift aid distribution to Consumers International<br>Equity as at 31 December<br>**Balance sheet**<br>Current assets<br>Current liabilities<br>Net assets at 31 December|**2022**<br>**£**<br>6,158<br>(4,300)<br>20,089<br>143,230<br>(123,141)<br>20,089<br>196,722<br>(170,918)<br>25,804<br>(7,573)<br>18,231|**2021**<br>**£**<br>18,253<br>-<br>6,158<br>144,291<br>(138,133)<br>6,158<br>15,102<br>(21,573)<br>(6,471)<br>(5,624)<br>(12,095)|
|---|---|---|



24 



## **CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**9**<br>**DEBTORS**<br>Membership fees<br>Other debtors<br>Prepayments and accrued income<br>Intercompany debtors - CI Services Ltd|**Group**<br>**Charity**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>7,134<br>2,135<br>44,704<br>28,482<br>34,654<br>75,195<br>-<br>109,624<br>86,492<br>215,436|**Group**<br>**Charity**<br>**2021**<br>**2021**<br>**£**<br>**£**<br>1,620<br>1,620<br>35,279<br>34,005<br>21,823<br>21,823<br>-<br>17,822|
|---|---|---|
|||58,722<br>75,270|



A bad debt expense of £8,603 (2021: £15,425) was charged to the SOFA. The doubtful debt provision at yearend was £32,451 (2021: £39,797). 

Other debtors at 31 December 2021 includes a deposit of £19,063 relating to the office premises due in more than 1 year, which as at 31 December 2022 this is due within one year. 

|**10 CREDITORS**<br>**amounts falling due within one year**<br>**Group**<br>**Charity**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>Trade creditors<br>Other creditors<br>Corporation tax liability<br>Other taxation and social security<br>Accruals<br>Deferred income (see below)<br>46,588<br>46,301<br>10,277<br>10,277<br>-<br>-<br>44,273<br>44,273<br>212,921<br>240,232<br>351,395<br>351,395<br>665,454<br>692,478<br>**Deferred income reconciliation**<br>Brought forward balance at 1 January<br>Amount recognised as incoming resources in the year<br>Amount deferred in the year<br>Deferred income carried forward at 31 December|**Group**<br>**Charity**<br>**2021**<br>**2021**<br>**£**<br>**£**<br>27,866<br>27,326<br>9,794<br>9,794<br>-<br>-<br>24,384<br>24,384<br>230,793<br>223,878<br>644,682<br>531,826|
|---|---|
||937,519<br>817,208|
||644,682<br>-<br>(644,682)<br>-<br>351,395<br>644,682|
||351,395<br>644,682|



Deferred income comprises grant funding received in advance of carrying out the project activities which would give rise to entitlement and recognition of the income. 

25 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **11 ANALYSIS OF FUND MOVEMENTS** 

|**Group**<br>_Restricted funds_<br>Green Action Fund<br>Sustainable Consumption<br>Bill & Melinda Gates Foundation<br>Food and Agriculture Organisation of<br>the United Nations<br>Enel Foundation<br>Rockefeller Foundation<br>_Unrestricted funds_<br>Designated - Ford Foundation<br>General funds<br>**Total:**<br>**Group comparative 2021**<br>_Restricted funds_<br>Oman Operations<br>Green Action Fund<br>Sustainable Consumption<br>IKEA<br>Mozilla Foundation<br>Resolve To Save Lives<br>Bill & Melinda Gates Foundation<br>_Unrestricted funds_<br>Designated - Ford Foundation<br>General funds<br>Total:|**1 January**<br>**2022**<br>**Income**<br>**Expenditure**<br>**Transfer**<br>**31 December**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>2,342<br>81,846<br>(81,659)<br>-<br>2,529<br>13,388<br>55,777<br>(75,405)<br>6,240<br>-<br>-<br>237,854<br>(237,854)<br>-<br>-<br>-<br>32,996<br>(32,996)<br>-<br>-<br>-<br>59,993<br>(59,993)<br>-<br>-<br>-<br>9,510<br>(9,510)<br> -<br>-<br>15,730<br>477,976<br>(497,417)<br>6,240<br>2,529<br>87,888<br>261,857<br>(103,925)<br>-<br>245,820<br>1,203,124<br>1,619,853<br>(1,123,988)<br>(6,240)<br>1,692,749<br>1,291,012<br>1,881,710<br>(1,227,913)<br>(6,240)<br>1,938,569<br>**1,306,742**<br>**2,359,686**<br>**(1,725,330)**<br>-<br>**1,941,098**<br>(3,141)<br>-<br>1,025<br>2,116<br>-<br>(543)<br>89,948<br>(87,063)<br>-<br>2,342<br>8,905<br>78,738<br>(74,255)<br>-<br>13,388<br>(2)<br>-<br>-<br>2<br>-<br>-<br>41,978<br>(43,506)<br>1,528<br>-<br>-<br>13,221<br>(13,564)<br>343<br>-<br>-<br>9,178<br>(9,178)<br>-<br>-<br>5,219<br>233,063<br>(226,541)<br>3,989<br>15,730<br>-<br>108,765<br>(20,877)<br>-<br>87,888<br>839,529<br>1,418,326<br>(1,050,742)<br>(3,989)<br>1,203,124<br>839,529<br>1,527,091<br>(1,071,619)<br>(3,989)<br>1,291,012<br>**844,748**<br>**1,760,154**<br>**(1,298,160)**<br>**-**<br>**1,306,742**|
|---|---|



The objects of each of the restricted funds are as follows: 

Green Action Fund (SSNC) – A project funded by the Swedish Society for Nature Conservation to promote awareness and advocate practices which encourage sustainable consumption. 

Sustainable Consumption - A project funded by BMUB, Consumers International lead on Consumer Information Programme (From Sustainable Lifestyles towards Social Change), as one of the six programmes run under the UN’s 10 Year Framework of Programmes on Sustainable Consumption and Production (10YFP). 

Consumer Protection in the Middle East (Oman operations) - A project funded by the Public Authority for Consumer Protection (PACP) to support members in the region through workshops and training. The project supporting this work was brought to a successful conclusion at the end of 2021. 

Giving the Poorest Consumers Voice (IKEA) – A project funded by IKEA Foundation to give poorest consumers a greater voice in India, Bangladesh and Indonesia for safer and more sustainable products. This project was completed in January 2021. 

Mozilla Foundation - Global study reviewing the personalised pricing methods used on Tinder's dating applications (research to be conducted in US, Netherlands, India, Brazil and New Zealand). 

26 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **11 ANALYSIS OF FUND MOVEMENTS (continued)** 

Resolve to Save Lives - Project supporting the preparation of a set of policy recommendations on promoting healthy and sustainable diets. 

Fair Digital Financial Accelerator – A project funded by the Bill & Melinda Gates Foundation to support consumer advocates in low and middle-income countries to develop expertise and build connections with digital finance regulators and providers to increase the presence of consumer-centred policy. 

.Ford Foundation - Funding of £261,857 received in 2022 from the Ford Foundation to enhance our work on digital consumer rights, particularly in lower and middle income countries has been set aside as Designated reserves and will be utilised over the coming year. 

Enel Foundation - Project to propose supplements to the United Nations Guidelines for Consumer Protection and promote their adoption by individual countries and businesses to support the transition to clean energy. 

The Food and Agriculture Organization of the United Nations - Project to support activities strengthening consumer engagement with Food Systems Summit outcomes. 

Rockefeller Foundation – A project to empower consumer advocates in Africa and mobilise policy makers and competition authorities to act on excessive food prices 

The transfers between funds during the year simply relate to the general fund covering the overspend in the various restricted funds. 

27 



## **CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

|**CHARITY**<br>_Restricted funds_<br>Green Action Fund<br>Sustainable Consumption<br>Bill & Melinda Gates Foundation<br>Food and Agriculture<br>Organisation of the United<br>Nations<br>Enel Foundation<br>Rockefeller Foundation<br>_Unrestricted funds_<br>Designated - Ford Foundation<br>General funds<br>**Total:**<br>**Charity comparative 2021**<br>_Restricted funds_<br>Oman Operations<br>Green Action Fund<br>Sustainable Consumption<br>IKEA<br>Mozilla Foundation<br>Resolve To Save Lives<br>Bill & Melinda Gates Foundation<br>_Unrestricted general funds_<br>Designated - Ford Foundation<br>General funds<br>Total:|**1 January**<br>**2022**<br>**Income**<br>**Expenditure**<br>**Transfer**<br>**31 December**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**£**<br>**£**<br>2,342<br>81,846<br>(81,659)<br>-<br>2,529<br>13,388<br>55,777<br>(75,405)<br>6,240<br>-<br>-<br>237,854<br>(237,854)<br>-<br>-<br>-<br>32,996<br>(32,996)<br>-<br>-<br>-<br>-<br>-<br>59,993<br>(59,993)<br>-<br>-<br>-<br>9,510<br>(9,510)<br>-<br>-|
|---|---|
||15,730<br>477,976<br>(497,417)<br>6,240<br>2,529<br>87,888<br>261,857<br>(103,925)<br>-<br>245,820<br>1,196,967<br>1,467,973<br>(986,039)<br>(6,240)<br>1,672,661|
||1,284,855<br>1,729,830<br>(1,089,964)<br>(6,240)<br>1,918,481|
||**1,300,585**<br>**2,207,806**<br>**(1,587,381)**<br>**-**<br>**1,921,010**|
||(3,141)<br>-<br>1,025<br>2,116<br>-<br>(543)<br>89,948<br>(87,063)<br>**-**<br>2,342<br>8,905<br>78,738<br>(74,255)<br>-<br>13,388<br>(2)<br>-<br>-<br>2<br>-<br>-<br>41,978<br>(43,506)<br>1,528<br>-<br>-<br>13,221<br>(13,564)<br>343<br>-<br>-<br>9,178<br>(9,178)<br>-<br>-|
||5,219<br>233,063<br>(226,541)<br>3,989<br>15,730<br>-<br>108,765<br>(20,877)<br>-<br>87,888<br>821,277<br>1,421,048<br>(1,041,369)<br>(3,989)<br>1,196,967|
||821,277<br>1,529,813<br>(1,062,246)<br>(3,989)<br>1,284,855|
||**826,496**<br>**1,762,876**<br>**(1,288,787) **<br>**-**<br>**1,300,585**|



28 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **12 ANALYSIS OF NET ASSETS BETWEEN FUNDS** 

|**Group**<br>**Group comparative**<br>**Charity**<br>**Charity comparative**<br>Tangible fixed assets<br>Investments<br>Current assets<br>Creditors due within one year<br>Tangible fixed assets<br>Investments<br>Current assets<br>Creditors due within one year<br>Tangible fixed assets<br>Investments<br>Current assets<br>Creditors due within one year<br>Tangible fixed assets<br>Investments<br>Current assets<br>Creditors due within one year|**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total funds**<br>**2022**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total funds**<br>**2021**<br>**2021**<br>**2021**<br>**£**<br>**£**<br>**£**<br>11,525<br>-<br>11,525<br>-<br>-<br>-<br>2,241,103<br>353,924<br>2,595,027<br>(314,059)<br>(351,395)<br>(665,454)<br>1,938,569<br>2,529<br>1,941,098<br>16,113<br>-<br>16,113<br>-<br>-<br>-<br>1,680,592<br>547,556<br>2,228,148<br>(405,693)<br>(531,826)<br>(937,519)|**Total funds**<br>**2021**<br>**£**<br>16,113<br>-<br>2,228,148<br>(937,519)|
|---|---|---|
|||1,306,742|
||||
||1,291,012<br>15,730<br>1,306,742||
||**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total funds**<br>**2022**<br>**2022**<br>**2022**<br>**£**<br>**£**<br>**£**<br>**Unrestricted**<br>**funds**<br>**Restricted**<br>**funds**<br>**Total funds**<br>**2021**<br>**2021**<br>**2021**<br>**£**<br>**£**<br>**£**<br>11,525<br>-<br>11,525<br>1<br>-<br>1<br>2,248,039<br>353,924<br>2,601,963<br>(341,083)<br>(351,395)<br>(692,478)<br>1,918,482<br>2,529<br>1,921,011<br>16,113<br>-<br>16,113<br>1<br>-<br>1<br>1,554,123<br>547,556<br>2,101,679<br>(285,382)<br>(531,826)<br>(817,208)<br>1,284,855<br>15,730<br>1,300,585|**Total funds**<br>**2021**<br>**£**<br>16,113<br>1<br>2,101,679<br>(817,208)|
|||1,300,585|
||||



29 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **13 MEMBERS' LIABILITIES** 

The Charitable company does not have a share capital and is Limited by guarantee. In the event of the company being wound up, the maximum amount each member is liable to contribute is £1. There were 95 full members as at 31 December 2022 (2021:94). 

## **14 RELATED PARTIES** 

International Consumer Research and Testing Limited rent office space within Consumers International’s London offices. The total rental income recognised in 2022 was £15,289 (2021: £33,000). International Consumers Research and Testing Limited and Consumers International have trustees in common. 

The Board of trustees are made up of member organisations of Consumers International in line with our constitution. All members have to pay minimum membership fee to Consumers International. None of the trustees have been paid remuneration or received any other benefits from an employment with their charity or related entity. 

Consumers International also has an investment in its trading subsidiary Consumers International Services Ltd. Please see note 8 above. Recharges for salaries and overheads were made during the year totaling £58,435 (2021: £17,823). The inter company balance held at 31 December 2022 amounts to £109,624 (2021: £17,822). 

## **15 PENSION COMMITMENTS** 

The charity operates a defined contribution scheme for staff, and further pays into a personal pension scheme for one individual (2021: one individual). Total employer contribution amounts paid to the schemes were £26,928 (2021: £18,032). Amounts outstanding at the end of the year were £3,260 (2021: £3,755). 

## **16 OPERATING LEASE COMMITMENTS** 

The organisation has the following minimum lease payments due in relation to noncancellable 

|<br>cancellable|||
|---|---|---|
|operating leases:|||
||**2022**|**2021**|
||**£**|**£**|
|Land and buildings:|||
|Amount payable within 1 year|-|42,966|



Operating lease costs charged to the statement of financial activities in the year was £42,966 (2021: £90,252). 

30 



**CONSUMERS INTERNATIONAL NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 DECEMBER 2022** 

## **17 STATEMENT OF FINANCIAL ACTIVITIES FOR THE PRIOR PERIOD** 

|**Income and endowments from:**<br>**Notes**<br>**Total income**<br>**Expenditure on:**<br>**Total expenditure**<br>**Net income/(expenditure)**<br>**Net movement in funds**<br>**Reconciliation of funds:**<br>Total funds brought forward<br>**Total funds carried forward**<br>12<br>_Charitable activities_<br>Membership Fees<br>2<br>International advocacy and campaigning<br>2<br>Raising funds<br>4<br>_Charitable activities_<br>International advocacy and campaigning<br>4<br>Transfers between funds<br>11<br>Other trading activities<br>3<br>Investment income - bank interest|<br>1,071,619<br>226,541<br>1,298,160<br>451,483<br>10,511<br>461,994<br>1,291,012<br>15,730<br>1,306,742<br>1,357,730<br>-<br>1,357,730<br>-<br>233,063<br>233,063<br>**Unrestricted**<br>**Restricted**<br>**Total**<br>**Funds**<br>**Funds**<br>**funds**<br>**2021**<br>**2021**<br>**2021**<br>**£**<br>**£**<br>**£**<br>1,527,091<br>233,063<br>1,760,154<br>188,362<br>-<br>188,362<br>883,257<br>226,541<br>1,109,798<br>455,472<br>6,522<br>461,994<br>(3,989)<br>3,989<br>-<br>839,529<br>5,219<br>844,748<br>169,348<br>-<br>169,348<br>13<br>-<br>13|1,373,461<br>208,868<br>**Total**<br>**funds**<br>**2020**<br>**£**<br>153,724<br>-|
|---|---|---|
|||141,404<br>1,585,568<br>1,736,053|
|||1,726,972|
|||9,081|
|||<br>-|
|||9,081|
|||835,667|
|||844,748|



All income arises from the continuing activities of the charity. There were no other recognised gains or losses other than those stated above. 

31