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2020-12-31-accounts

THE WOMEN’S ORGANISATION

ANNUAL REPORT AND ACCOUNTS

for the year ended 31st December 2020

REGISTERED NUMBER: 6706841 CHARITY NUMBER: 1127631

" THE WOMEN’S ORGANISATION

Annual Report and Accounts

for the year ended 31st December 2020

Contents Page
Reference and Administrative Details 1
Trustees’ Annual Report (including Directors’ Report and Strategic Report) 2
independentAuditors’ Report 12
Consolidated Statementof Financial Activities (including Incomeand Expenditure Account) 17
Balance Sheets 19
Consolidated Statement of Cash Flows 20
NotestotheFinancialStatements 21

THE WOMEN’S ORGANISATION

Reference and Administrative Details 31st December 2020

Incorporated in England and Wales on 24th September 2008

Companynumber 6706841
Charity number 1127631
Trustees GA Moglione
S M Oshikanlu
A Morgan
MN Mealey
J Croft
J A Gillespie
LM Pearson
Secretary M O’Carroll
Chief Executive M O’Carroll
Registered office 54 StJames Street
Liverpool
L1 OAB
StatutoryAuditor Mitchell Charlesworth LLP
Chartered Accountants
Statutory Auditor
5Temple Square
Temple Street
Liverpool L2 5RH
Banker Barclays Bank ple
Liverpool City Business Centre
48B - 50 Lord Street
Liverpool
Merseyside
L21TD

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

The directors, who are trustees of the charity, present this annua! report and the unaudited accounts for the year ended 31st December 2020.

Structure, Governance and Management

The charity was incorporated on 24th September 2008. The charity is governed by Memorandum and Articles of Association and constituted as a charitable company limited by guarantee. At a general meeting of the company held on 7th June 2010 a special resolution was passed to change the name of the charity to ‘The Women’s Organisation’.

Membership of The Women’s Organisation is drawn from community, educational, business, legal and trade union backgrounds. All members have been circulated with invitations to nominate trustees prior to the AGM advising them of any retiring trustees and requesting nominations for the AGM. The co-option of trustees is also considered when the Board has identified specific skill, knowledge or experience set requirements to ensure the effective governance of the organisation.

Board Members are drawn from diverse backgrounds and board recruitment is undertaken in line with our equal opportunities policy to ensure that the organisation benefits from the experience and diversity of trustees.

The trustees who served during the year, together with any changes up to the date of approving this report are listed on page 1.

The trustees are appointed in accordance with the Memorandum and Articles of Association.

Policies and procedures for the induction of trustees

The Women’s Organisation provides a comprehensive induction programme to all new trustees to ensure that they are fully appraised of, and have an understanding of, their fiduciary duties and obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and financial performance of the charity.

All trustees are provided with a Trustees/ Directors handbook which covers key aspects including financial procedures, health and safety, social accounting roles and responsibilities. All board members have access to training and development support and take part in an annual skills audit and development days.

Organisational Structure

The charity is administered by a board of trustees which meets quarterly. The trustees have appointed a Chief Executive Officer to manage the day to day operations of the charity and to ensure the effective operations of the charity. The Chair of the Board of Trustees provides individual support and supervision to the Chief Executive on a monthly basis. There are human resource, strategy and finance sub groups that meet as required to address specific issues outside the parameters of the approved business plan. The Chief Executive has delegated authority, approved by the trustees, for operational and strategic development matters including research and forecasting, finance, human resources and marketing and ensuring that the organisation achieves its overall aims and objectives. The Board of Trustees develops the business plan in conjunction with the Chief Executive Officer based upon stakeholder engagement and a rigorous research process.

Day to day management of The Women’s Organisation is delegated to the senior managers. The current leadership team comprises:

Ms M. O’Carrall Chief Executive Officer Ms H. Millne Deputy Chief Executive Officer

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

Related Parties

The Women’s Organisation Trading Ltd is a wholly owned subsidiary of The Women’s Organisation. It provides services to public sector bodies in promoting and delivering wamen’s economic development activities, and actively promotes the work of the charity providing advice and training opportunities for women who suffer poverty and exclusion due their unemployed, age, BME, ex offender and /or disability status.

Risks

The charity has developed a risk register in the context of its charitable aims and objectives. The register is based upon an internal and external assessment using SWOT and PESTEL analysis, the nature and scale of the project activities and the criteria set for success. The risk register also focuses upon current and future legislation and regulation, finance, reputation and legitimacy with key stakeholder, major funders and supporters.

The register includes a preventative action plan and mitigation strategies to minimise risk in all areas of the charity’s work.

Public Benefit

The charity's objects and activities have been specifically developed to ensure that they comply with the Charity Commission guidance on delivering public benefit. The charity's activities deliver public benefit through the provision of services which seek to relieve the impact of poverty through improving employment, enterprise, and educational opportunities. Our services have been specifically designed based upon the Charity Commissions guidance on public benefit. We conduct practical application of the public benefit test which for example include the non-charging of fees to our service users who face economic and social disadvantage.

Objectives and Aims

The objects of the Charity are:

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

Charity’s aims and strategies for achieving objectives

The charity will achieve its charitable objectives through:

During 2020 we strove to meet our aims and objectives by:

And working within our value base, which is that:

WE ARE ACCESSIBLE - We are here for all women — whatever their story — and we can appreciate the most complex of challenges. We are inclusive and celebrate diversity in every context, and are committed to helping women achieve their potential, no matter what their background or goals.

WE ARE CREATIVE - We continually evaluate and improve our own practices to respond to women’s needs. Whether we are tackling complex issues or more common universal ones, we employ innovation and imagination. If there is no obvious existing solution, we work and think creatively to find a new one.

WE ARE LEADERS - Pioneering new ideas, resources, programmes and connections makes us more effective. That’s why we are constantly pushing against the status quo and acting as a bold and forward-thinking voice that brings people together.

WE ARE CHANGE-MAKERS - We are absolutely committed to helping all women, and our focus is always on practical, positive outcomes. In other words, we get quality results. Whether we’re helping new businesses grow and thrive, inspiring improvements in legislation, or raising social awareness, our success lies in having a real and meaningful impact on individual women’s lives.

WE ARE COLLABORATORS - We foster co-operation between individuals and organisations, from the grassroots to the highest level of government, bringing credibility, professionalism and enthusiasm to every partnership we undertake.

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

in 2020 the charity has both responded to the issues arising from the COVID 19 pandemic and continued to make considerable strides in achieving its charitable and wider social objectives. Having built upon the 24 years’ experience of delivering quality services to women the charity continued to provide free enterprise, employment and education advice support services for women who experience social and economic exctusion including one-to-one advice, mentoring, personal development activities, start your own business planning courses and workshops, networking and management programmes, through its trading arm services to women in business are also provided.

The charity targets women from diverse communities to assist them in working towards health and wellbeing through programmes that develop self-esteem and self-belief as wel! as skills for economic independence and community participation.

We have continued to work with a diverse range of women, of the 600 new women we have worked with in 2020 the profile was:

During the same period of the 500 of women engaged in wider personal development and prestart support and 45 of these women started their own businesses.

As well as the above engagement, the organisation also delivered several virtual webinars in response to the COVID-19 pandemic, offering immediate support identified through directly working with businesses, for example launching a business during a pandemic, sustainable sales & marketing, business resilience clinics and WO Connect (formally Business Club) expert panel events, engaging with a further 1122 entrepreneurs across the City Region.

In 2020 The Women’s Organisation continued to lead the Enterprise Hub consortium, with City of Liverpoo! College as the accountable body and The Women’s Organisation as the managing partner. The charity leads the Liverpool City Region start up support service, offering a single gateway for enterprise support services through a network of 27 partner organisations, delivering services to over 8500 people. This six-year, European funded Programme, is integral to the Local Enterprise Partnership and Combined Authority strategies, and ensures a comprehensive, quality service to aspiring entrepreneurs. In 2020 The Women’s Organisation leads as accountable body in 10 consortium programmes:

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

In 2020 the charity has continued to stimulate research and development in the area of gender, enterprise, health and wellbeing through its digital innovation work and its contract to research and deliver the DG Regio Entrecomp initiative. We have continued to contribute to research and work with the Expert Panel of leading academics from across the globe who focus in the in the field of women’s economic development and inclusion to support our work and contribute to the evidence base.

Following the opening of 54 St James Street in 2011 marketing of the new facility resulted in continuous 100% occupation since April 2012. The building continues to be well received by tenants, conference and meeting space customers and strategic partners. In 2020 the use of the tenanted space is 68% women led businesses and the remainder social enterprises both that meet the charities objectives and target groups. Conferencing bookings were continuing to improve on previous years during the start of 2020, however due to the national government restrictions imposed during the ongoing COVID-19 pandemic, there has been a significant reduction in bookings and the opportunity for new bookings, a total of only 369 meeting rooms were booked at 54 St James Street in 2020.

The CEO and Deputy CEO represent the charity, and the sector at the National Growth Programme Board and three of its national subcommittees, and co-ordinate representation from other organisations across England on the remaining six sub-committees. The CEO also represents the sector on the local ESIF committee. These Boards provide strategic, high level opportunity to influence the current European funds and the development of the UK Shared Prosperity, or other successor funds as they are developed.

As the COVID-19 pandemic began to unfold and services were adapted in response, the organisation was able to see first-hand the effect of the pandemic on our clients, wider service users and the local business community. The organisation provided resources and the latest updates of the situation to clients via the blog, social media and by phone or email.

Supported by the latest research and leading UK Professors, the organisation worked directly with a number of government departments and was able to make several specific asks, lobbying for the extra support needed during the ongoing pandemic, for example,

Also in 2020 the charity:

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

The Charity also contributed to several key campaigns, advocacy and events including:

Online marketing and social media were a key focus for marketing as services also moved online. At the end of 2020 the organisation had over 55,006 Twitter followers, 50,300 (+109% on 2019) through The WO and 4,706 (+3%) through 54 St James Street. Coverage around the US General Election and women’s achievements contributed to this success, achieving over 30 million Twitter impressions during the month of November.

Combined followers on our other social media platforms were as follows:

The charity had previously expanded its offer of fee-paying training services under the brand of 54 St James Street, opening our services to self-employed and employed women and men who may not be eligible for free programmes, or need to complement their skills through additional training. However, due to the impact of the COVID-19 pandemic, the organisation paused developing fee-paying services further to focus on adapting and providing uninterrupted delivery of its funded programmes. The charity will look to revisit this approach in the future, as a revenue stream that is aligned with our social mission.

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' THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

Through 2020 the charity maintained its consultancy services through the trading name Enterprise Evolution, and have continued to provide bespoke enterprise education, social accounting and evaluation services to customers in the UK and China.

Reserves Policy

A formal policy on reserves was agreed at the 29" January 2009 meeting of the Board of Directors and reviewed annually since. It states:

The trustees have set a reserves policy which requires:

The calculation of the required level of reserves is an integral part of the organisation's planning, budget and forecast cycle.

It takes into account:

Remuneration Policy

The Women’s Organisation is committed to ensuring that we pay our staff fairly and in a way which ensures we attract and retain the right skills to have the greatest impact in delivering our charitable objectives.

In accordance with the Statement of Recommended Practice (SORP):

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‘ THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

In determining The Women’s Organisation’s remuneration policy, the remuneration committee takes into account all factors which are deemed necessary. The objective of the policy is to ensure that the Chief Executive and staff team are provided with appropriate incentives to encourage enhanced performance and are, in a fair and responsible manner, rewarded for their individual contributions to the success of the Charity.

The appropriateness and relevance of the remuneration policy is reviewed annually, including reference to comparisons with other charities ensuring The Women’s Organisation remains sensitive to the broader issues e.g. pay and employment conditions elsewhere.

We aim to recruit, subject to experience, at the lower — medium point within a band, providing scope to be rewarded for excellence. We do not employ interns without pay and we aim to pay at least the living wage for all our staff.

Delivery of The Women’s Organisation’s charitable vision and purpose is primarily dependent on our staff, which is the largest single element of charitable expenditure.

Financial Review

Through 2020 The Women’s Organisation has consolidated its position as an expert and trusted developer and leader of significantly sized consortia. This programme management function, both secures the charity’s strategic position and contributes to the diversification of funding within the company.

In addition, in developing the paid for services offer at 54 St James Street and in the expansion and rebranding of the consultancy services the charity is continuing to maximise new income opportunities.

These newer areas complement the existing strong core services of enterprise services delivery and the income generated through 54 St James Street.

In 2020 the trustees have maintained cash flow facilities to help facilitate partnership development and delivery going forward.

The accounts show net incoming resources of £114,273.

The Women’s Organisation has performed operationally in line with its financial projections, and the strategy employed since 2015 is embedded and being successfully implemented. The refocused strategic plan has resulted in successfully securing and implementing substantial contracts through to 2023; diversifying our income streams; building and retaining a sound customer base; and implementing actions to improve the cash flow position. Combined, these will not only underpin the core financial stability of the company, but also contribute to its incremental growth ambitions.

The Women’s Organisation is working strategically at a national level to influence successor funds, currently the potential UK Shared Prosperity Fund, that will replace European funding at the end of this programme 2022. This influencing work includes consideration of the investment that will be available in the North of England, and the extent to which this is targeted to women’s issues including economic development; people’s civic and social inclusion; skills and advancement.

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

Principal funding sources and how expenditure in the year supported charitable activities

The charity has been successful in its ninth year of trading and expects to gain new customers and operate within new markets in the coming years.

The fixed asset of 54 St James Street, Liverpool are of significant value to the charity and provide a physical infrastructure to support and facilitate the charity’s core objectives.

The charity’s wholly owned trading subsidiary, had another successful year and continues to improve and expand its range of services. The Board of Directors agree that The Women’s Organisation (trading) Ltd would makea gift aid payment of £466,985 (2020, £227,210) to the charity.

The directors are confident in the growth potential for the traditional operation of trading services but also in the additional new markets.

The principal sources of incoming resources in 2020 include:

Plans for future periods

Beyond 2020 the charity’s key aims are to deliver innovative economic development services to women within Liverpool City Region and Greater Manchester; provide gender friendly meeting and incubator space; support the development of gender aware enterprise research; to influence policy in order to improve the position of women in society and to maintain a sustainable organisation.

The activities that will contribute to achieving these aims will include:

Statement of Trustees’ responsibilities

The trustees (who are also directors of The Women’s Organisation for the purposes of company law) are responsible for preparing the Trustees’ Annual! Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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

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‘ THE WOMEN’S ORGANISATION

Balance Sheet

At 31st December 2020

2020 2019
£ £ £ £
Fixed assets
Tangible assets 4,993,387 5,023,559
Current assets
Debtors 736,875 794,798
Cash at bank and in hand 581,489 197,430
1,318,364 992,228
Creditors:Amounts falling due within
oneyear 411,779 177,879
Netcurrent assets 906,585 814,349
Total assets less current liabilities 5,899,972 5,873,908
Creditors: Amounts falling due after
more than one year (1,732,053) 1,784,262
Net assets 4,167,919 4,053,646
Funds
Unrestricted funds:
General 1,133,279 975,290
Restricted funds 3,034,640 3,078,356
4,167,919 4,053,646

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2020

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Trustees’ statement of disclosure of information to the auditors

Each of the persons who is a trustee at the date of approval of this report confirm in so far as they are aware that:

Auditors

Mitchell Charlesworth LLP are deemed to be re-appointed under section 487(2) of the Companies Act 2006

This report was approved by the Board of Trustees on 20 August 2020 and signed on its behalf by:

G A Moglione Trustee

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Mitchelle Charlesworth LLP

Chartered Accountants

5 Temple Square - Temple Street - Liverpool - L2 5RH

THE WOMEN’S ORGANISATION

Independent Auditor’s Report to the Members of The Women’s Organisation

Year ended 31st December 2020

Opinion

We have audited the financial statements of The Women’s Organisation (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31st December 2020 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the 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 lreland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 and parent charitable company 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 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 about the group’s or the parent charitable company’s ability to continue as a going concern for a period of at least twelve months from the date 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.

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Mitchell Charlesworth LLP

Chartered Accountants

5 Temple Square - Temple Street - Liverpool - L2 5RH

THE WOMEN’S ORGANISATION

Independent Auditor’s Report to the Members of The Women’s Organisation

Year ended 31st December 2020

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees’ Annual Report, other than the financial statements and our Auditor's Report thereon. 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.

Opinions on other matter prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our 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 Strategic Report and 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:

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Mitchell Charlesworth LLP

Chartered Accountants 5 Tempie Square - Temple Street - Liverpool - L2 5RH

THE WOMEN’S ORGANISATION

Independent Auditor’s Report to the Members of The Women’s Organisation

Year ended 31st December 2020

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement,, 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 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 resect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:

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Mitchell Charlesworth LLP

Chartered Accountants 5 Temple Square - Temple Street - Liverpool - 12 5RH

THE WOMEN’S ORGANISATION

Independent Auditor’s Report to the Members of The Women’s Organisation

Year ended 31st December 2020

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

(i) The presentation of the charity's Statement of Financial Activities, (ii) the charity's accounting policy for revenue recognition, (iii) the overstatement of salary and other costs, and (iv) the understatement of creditors. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and the Statement of Recommended Practice - ‘Accounting and Reporting by Charities' issued by the joint SORP making body.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

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

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Mitchell Charlesworth LLP

Chartered Accountants

5 Temple Square - Temple Street - Liverpool . L2 SRH

THE WOMEN’S ORGANISATION

Independent Auditor’s Report to the Members of The Women’s Organisation

Year ended 31st December 2020

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.

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Mr Philip Griffiths (Senior Statutory Auditor)
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24 August 2021

Chartered Accountants

Statutory Auditor

3rd Floor 5 Temple Square Temple Street Liverpool Merseyside L2 5RH

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THE WOMEN’S ORGANISATION

Consolidated Statement of Financia! Activities (including Income and Expenditure Account) for the year ended 31st December 2020

Unrestricted Restricted Total Total
Notes Funds Funds 2020 2019
£ £ £ £
Income from:
Donations 670 - 670 -
Charitable activities 2 2,543,903 946,027 3,489,930 2,881,006
Other trading activities 3 997,654 360,534 1,358,188 989,012
Investments 4 1,015 - 1,015 1,843
Total income 3,543,242 1,306,561 4,849,803 3,871,861
Expenditureon:
Raisingfunds 6 72,701 - 72,701 113,375
Charitable activities 7 3,118,178 1,544,651 4,662,829 3,667,956
Total expenditure 3,190,879 1,544,651 4,735,530 3,781,331
Net income/(expenditure) 352,363 (238,090) 114,273 90,530
Reconciliation offunds:
Total funds broughtforward 805,159 3,410,617 4,215,776 4,125,246
Totalfundscarriedforward 1,157,522 3,172,527 4,330,049 4,215,776

All income and expenditure derives from continuing activities.

The notes on pages 21 to 34 form part of these financial statements

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~ THE WOMEN’S ORGANISATION

Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2020

Comparative information for the year ended 31st December 2019

Unrestricted Restricted Total
Notes Funds Funds 2019
£ £ £
Income from:
Charitable activities 2 1,439,109 1,441,897 2,881,006
Othertrading activities 3 989,012 - 989,012
Investments 4 1,843 - 1,843
Total income 2,429,964 1,441,897 3,871,861
Expenditure on:
Raisingfunds 6 113,375 - 113,375
Charitable activities 7 2,182,343 1,485,613 3,667,956
Total expenditure 2,295,718 1,485,613 3,781,331
Netincome/(expenditure) 134,246 (43,716) 90,530
Reconciliation offunds:
Total funds broughtforward 670,913 3,454,333 4,125,246
Totalfundscarriedforward 805,159 3,410,617 4,215,776

The notes on pages 21 to 34 form part of these financial statements

—_

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THE WOMEN’S ORGANISATION

Balance Sheets

31st December 2020

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |Notes|2020|2019| |Group|Charity|Group|Charity| |£|£|£|£| |Fixed|assets| |Tangible|assets|15|4,993,387|4,993,387|5,023,559|5,023,559| |4,993,387|4,993,387|5,023,559|5,023,559| |Current|assets|7| |Debtors|Hay|1,734,206|736,875|1,599,257|794,798| |Cash|at|bank and|in|hand|993,528|581,489|746,941|197,430| |2,727,734|1,318,364|2,306,198|992,228| |Creditors| |Amounts|falling|due within|one|year|18|1,659,019|411,779|1,329,719|177,879| |Net current|assets|1,068,715|906,585|976,479|814,349| |Total|assets|less|current|liabilities|6,062,102|5,899,972|6,000,038|5,837,908| |Creditors| |Amounts|falling due|after more|than|one| |year|19|1,732,053|1732;053|1,784,262|1,784,262| |Net|assets|4,330,049|4,167,919|4,215,776|4,053,646| |Funds| |a|a|OS|a| |Unrestricted|funds| |General|funds|22|1,157,522|1,133,279|805,159|975,290| |Restricted|funds|22|3,172,527|3,034,640|3,410,617|3,078,356| |Total funds|23|4,330,049|4,167,919|4,215,776|4,053,646|

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The financial statements were approved by the Trustees and authorised for issue on 20 August 2021, and are signed on their behalf by:

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ae NoGAMoglioneaftcoe- Trustee MEE
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Company Registration Number: 6706841

The notes on pages 21 to 34 form part of these financial statements

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THE WOMEN’S ORGANISATION

Consolidated Statement of Cash Flows 31st December 2020

Notes 2020 2019
£ £ £ £
Cashflowfrom operating activities 25 341,101 406,761
Cash flowfrom investing activities
Payments to acquiretangible fixed assets (36,615) (19,530)
Interest received 1,015 1,843
Net cash flowfrom investing activities (35,600) (17,687)
Cash flowfrom financing activities
Repayment oflongterm loans (49,827) (121,938)
Interest paid (9,087) (41,581)
Netcash flowfrom financing activities (58,914) (163,519)
Net increase in cash and cash equivalents 246,587 225,555
Cash and cash equivalent at 1stJanuary 2020 746,941 521,386
Cash and cash equivalents at31st December
2020 993,528 746,941
Cash and cash equivalents consists of:
Cash at bank and in hand 993,528 746,941
Cash and cash equivalents at 31st December
2020 993,528 746,941

The notes on pages 21 to 34 form part of these financial statements

20 |Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

  1. Summary of significant accounting policies

  2. a) General information and basis of preparation

The Womens Organisation is a charitable organisation registered in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are described in the Trustees’ Report on page 3.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2020, the Companies Act 2006, the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity where they have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

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

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.

21|Page

Notes to the Financial Statements Year ended 31st December 2020

  1. Summary of significant accounting policies (continued)

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from trading activities includes income from the provision of training services and fees for the hire of facilities by service users.

Investment income is earned through holding assets for investment purposes. Interest income is recognised using the effective interest method.

d) Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a pro-rata basis consistent with the use of the resources.

The analysis of these costs is included in note 8.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Individual assets are capitalised on the balance sheet where their cost exceeds £500.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Long leasehold premises - 2% per annum Office equipment and fixtures - 10%-33% per annum

g) Debtors and creditors receivable/ payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

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~ THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

1, Summary of significant accounting policies (continued)

i) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes.

j) Operating lease agreements Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

k) — Irrecoverable VAT All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category or resources expended for which it was incurred.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

m) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangements, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

n) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves and funding availability for the charity to be able to continue as a going concern. The organisation has considered the impact of Brexit and Covid-19 as part of their assessment.

Zs Income from Income from charitable activities Total Total
Unrestricted Restricted 2020 2019
£ £ £ £
Training andservicecontracts 2,543,903 946,027 3,489,930 2,881,006

Income from charitable activities in 2019 was £2,881,006, of which £1,441,897 was attributable to restricted and £1,439,109 was attributable to unrestricted funds.

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“THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

3. Income from othertrading activities Total Total
Unrestricted Restricted 2020 2019
£ £ £ £
Service andtraining contacts 955,423 360,534 1,315,957 879,471
Facilities hire 42,231 - 42,231 109,541
997,654 360,534 1,358,188 989,012
Income from other trading activities in 2019 was £989,012, of which £Nil was attributable to restricted and
£989,012 was attributable to unrestricted funds.
4. Incomefrom investments Total Total
Unrestricted Restricted 2020 2019
£ £ £ £
Bankinterestreceivable 1,015 - 1,015 1,843

Income from other trading activities in 2019 was £989,012, of which £Nil was attributable to restricted and £989,012 was attributable to unrestricted funds.

Income from investments in 2019 was £1,843, all of which was attributable to unrestricted funds.

  1. Subsidiary undertaking

The results of the subsidiary, The Women’s Organisation (Trading) Limited (company number 03146623) included within the Consolidated Statement of Financial Activities are as follows:-

£
Income 4,436,744
Operating expenses 3,970,560
Operating surplus 466,184
Interest receivable 801
Surplus forthe period before taxation 466,985
Taxation -
Surplus forthe period after taxation 466,985
Distribution to parent charity (466,985)
Surplus for the period -
Reserves represented by:-
Current assets 2,124,841
Creditors due within one year 1,962,711
162,130

2GPage

‘ THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

6. Analysis ofexpenditure on raisingfunds 2020 2019
Total Total
£ £
Facilities management 63,243 49,238
Clientservices 9,458 64,137
Total expenditure 72,701 113,375
All oftheabove costs in the current and previous yearwere attributable to unrestricted funds.
re Analysis ofexpenditure on charitable Direct Support costs 2020 2019
activities costs (see note 8) Total Total
£ £ £ £
Facilities management 144,071 - 144,071 147,169
Clientservices 4,172,880 418,579 4,591,459 3,634,162
4,316,951 418,579 4,735,530 3,781,331

£1,544,651 of the above costs were attributable to restricted funds (2019 £1,485,613) and £3,190,879 (2019 £2,295,718) of the above costs were attributable to unrestricted funds.

8. Allocation of support costs

Allocation of supportsupport costs 2020 2019
£ £
Governance (see note 9) 12,520 12,660
Staffcosts 213,538 171,203
Telephone 2,118 2,504
Printing, postage and stationery 1,823 3,249
Computer costs 54,203 47,380
Hire ofequipment 7,110 8,472
Repairsand maintenance 3,409 824
Legal and professional 10,909 3,574
Dissemination 60 1,342
Bank interest 9,087 41,581
Bankcharges 3,944 5,108
Depreciation 66,787 58,478
Irrecoverable VAT - 6,128
Bad debts 534 ~
Sundry 15,686 7,160
insurance 2,197 2,116
Marketing 14,654 31,664
Loss/(profit) on foreign exchange - 566
418,579 404,009

7

25|Page

’ THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

9. Governance costs 2020 2019
£ £
Auditfees 12,520 12,660
10. Netincome/(expenditure) resourcesfortheyear Total Total
2020 2019
This is stated after charging/(crediting): £ £
Auditfees 12,520 12,660
Depreciation offixed assets 66,787 58,478
Operating lease rentals
Landandbuildings 2,000 2,000

11. Auditor’s remuneration

The auditor’s remuneration for the group amounts to an audit fee of £12,100 (2019 £12,000) and non-audit fees of £420 (2019 £660).

12. Trustees’ and key management personnel remuneration and expenses

None of the trustees (or any persons connected with them) received or waived any remuneration during the period. Expenses totalling £1,672 (2019 £1,306) were reimbursed to 2 (2019 10) trustees for travel costs.

The total amount of employee benefits received by key management personnel is £557,105 (2019 £298,778). The trustees consider the key management personnel to be the Chief Executive, the Deputy Chief Executive, the Programme Director, Finance Manager and Operations Manager.

13. Staffcosts Totai Total
2020 2019
Group staffcosts and employee benefits were as follows: £ £
Wages and salaries 1,321,738 1,169,581
Social security costs 126,083 111,724
Defined contribution pension costs 289,398 33,941
1,737,219 1,315,246

The average monthly number of employees and full time equivalents (FTE) during the year was as follows:-

2020 2020 2019 2019
Number FTE Number FTE
Clientfacing and advisory 25 20 25 20
Management 5 5 5 5
Administrative and support 17 1s AL 10
47 40 41 35

26|Page

“THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

13. Staff costs (continued)

The number of employees who received total employee benefits (excluding employer pension costs) of more than £60,000 per annum were as follows:-

2020 2019
Number Number
£70,001 - £80,000 2 2
14. ‘Interest payableand similar expenses 2020 2019
£ £
Bank loans and overdrafts 9,087 41,581
15. Tangible fixed assets Office
Leasehold land Equipment
Group and charity & buildings & fixtures Tota!
£ £ £
Cost or valuation
At 1stJanuary 2020 5,202,116 429,443 5,631,559
Additions 5,926 30,689 36,615
At31st December 2020 5,208,042 460,132 5,668,174
a _
Depreciation
At 1stJanuary 2020 230,277 377,723 608,000
Charge for the year 26,040 40,747 66,787
At31st December 2020 256,317 418,470 674,787
Net book value
At 31st December 2020 4,951,725 41,662 4,993,387
At31stDecember2019 4,971,839 51,720 5,023,559

16. Investment in subsidiary undertaking

The charity is the sole member of The Women’s Organisation (Trading) Limited, a company limited by guarantee and incorporated in England and Wales, which provides training and business support services.

27|Page

“THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

17. Debtors Group Charity Group Charity
2020 2020 2019 2019
£ £ £ £
Trade debtors 164,452 14,831 95,542 11,541
Prepayments and accrued income 1,563,502 2,289 1,463,715 26,538
Other debtors 6,252 4,286 - -
Amounts owed by subsidiary undertaking - 715,469 - 756,718
1,734,206 736,875 1,559,257 794,797
18. Creditors:Amountsfallingduewithin oneyear Group Charity Group Charity
2020 2020 2019 2019
£ £ £ £
Futurebuilders loan 98,681 98,681 94,191 94,191
Bank loans and overdrafts 22,493 22,493 24,601 24,601
Trade creditors 17,330 13,506 25,233 21,177
Other tax and social security 32,677 - 31,048 1,979
Accruals and deferred income 1,458,649 256,000 1,130,301 18,145
Other creditors 29,189 21,099 24,345 17,786
1,659,019 411,779 1,329,719 177,879
19. Creditors:Amountsfallingdue aftermore Group Charity Group Charity
than one year 2020 2020 2019 2019
£ £ £ £
Futurebuilders loan 1,710,244 1,710,244 1,739,082 1,739,082
Bank loan 21,809 21,809 45,180 45,180
1,732,053 1,732,053 1,784,262 1,784,262

The Futurebuilders loan is secured by a fixed charge dated 28th May 2010 over the leasehold premises at 54 St James Street and by a floating charge in the form of a debenture dated 30th November 2010.

The charity has also provided a legal charge dated 6th March 2014 to The Secretary of State for Communities and Local Government over the leasehold premises at 54 St James Street in support of the funding for the building.

The bank loan is secured by way of a debenture dated 23rd April 2012 in the form of a fixed and floating charge over all the assets of the company, by a guarantee given by its subsidiary undertaking and by a guarantee given by the Department for Trade and Industry dated 22nd March 2012.

28|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

20. Maturityofdebt 2020 2019
£ £
Creditors include finance capital which isdue for repayment as follows:
Amounts repayable:
In one year or lesson demand 121,174 118,792
In more than oneyear but not morethan two years 117,123 146,431
In more than two years but not more than five years 214,497 310,198
Due after fiveyears 1,400,433 1,327,633
1,853,227 1,903,054

21. Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2020 2019
Land & Land &
buildings Other buildings Other
£ £ £ £
Not laterthan one year 2,000 5,227 2,000 5.227
Later than oneand not laterthan five years 8,000 - 8,000 5,227
Later than fiveyears 223,000 - 225,000 -
233,000 D227. 235,000 10,454

The charity has a 125 year lease with Liverpool City Council at an initial rent of £2,000 per annum for land on which the charity has its Business Centre.

22. Fund reconciliation

Unrestricted funds Balance Balance
01/01/20 Income Expenditure 31/12/20
£ £ £ £
Group 805,159 3,543,242 3,190,879 1,157,522
Charity 975,290 720,054 562,065 1,133,279
Comparative information in respect ofthe preceding period is as follows:
Balance Balance
01/01/19 Income _Expenditure 31/12/19
£ £ £ £
Group 670,913 2,429,964 (2,295,718) 805,159
Charity 841,044 599,586 (465,340) 975,290
29

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

22. Fund reconciliation (continued)

Restricted funds Balance Balance
01/01/20 Income Expenditure 31/12/20
Group £ £ £ £
Social Investment Fund: Future Builders Capital
Grant (54 StJames Street) 381,624 - (5,416) 376,208
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 StJames Street) 489,218 - (6,946) 482,272
European Regional Development Fund (54 St
JamesStreet) 2,186,157 - (31,047) 2,155,110
Liverpool Vision (54StJames Street) 21,357 = (307) 21,050
Progress to Success - 71,753 (71,753) -
Building BetterOpportunities 332,261 1,147,372 (1,341,746) 137,887
HM Government& National Lottery
Community Fund - 87,436 (87,436) -
3,410,617 1,306,561 (1,544,651) 3,172,527
Balance Balance
01/01/20 Income Expenditure 31/12/20
Charity £ £ £ £
Social Investment Fund: Future Builders —
Capital Grant (54 StJames Street) 381,624 - (5,416) 376,208
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 StJames Street) 489,218 ~ (6,946) 482,272
European Regional Development Fund (54 St
James Street) 2,186,157 - (31,047) 2,155,110
Liverpool Vision (54 StJames Street) 21,357 - (307) 21,050
Progress to Success - 71,753 (71,753) -
HM Government& National Lottery
Community Fund - 87,436 (87,436) -
3,078,356 159,189 202,905 3,034,640

30|Pag e

~ THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 3ist December 2020

22. Fund reconciliation (continued)

Restricted funds (continued)

Comparative information in respect of the preceding period is as follows:

Balance Balance
01/01/19 Income —_Expenditure 31/12/19
Group £ a £ £
Social Investment Fund: Future Builders
Capital Grant (54StJames Street) 387,040 - (5,416) 381,624
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 StJames Street) 496,164 - (6,946) 489,218
European Regional Development Fund (54 St
James Street) 2,217,204 - (31,047) 2,186,157
Liverpool Vision (54 StJames Street) 21,664 - (307) 21,357
Progress to Success - 107,938 (107,938) -
Building BetterOpportunities 332,261 1,333,959 (1,333,959) 332,261
3,454,333 1,441,897 (1,485,613) 3,410,617
Balance Balance
01/01/19 Income __ Expenditure 31/12/19
Charity £ £ £ £
Social Investment Fund: Future Builders —
Capital Grant(54 StJames Street) 387,040 ~ (5,416) 381,624
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54StJames Street) 496,164 - (6,946) 489,218
European Regional Development Fund (54 St
JamesStreet) 2,217,204 - (31,047) 2,186,157
Liverpool Vision (54 StJames Street) 21,664 a (307) 21,357
Progress toSuccess - 107,938 (107,938) -
3,122,072 107,938 (151,654) 3,078,356

Future Builders, LABGI, the European Regional Development Fund and Liverpool Vision provided Capital Funding towards the 54 St James Street development.

The Progress for Success funding was provided by the National Lottery to support disadvantaged women, with the aim of providing them with greater self-confidence and resilience and helping them into employment.

The Building Better Opportunities project was funded jointly by the National Lottery and the European Social Fund. The Women’s Organisation leads this project and works with a number of partners, including the Citizen’s Advice Bureau, to create financial opportunities for unemployed and economically inactive individuals.

HM Government & National Lottery Community Fund provided financial help to companies during the Covid pandemic.

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THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

23. Analysis of netassets betweenfunds Unrestricted Restricted
Funds Funds Total
Fund balances at 31st December 2020 are represented by: £ £ £
Group
Tangible fixed assets 1,958,747 3,034,640 4,993,387
Cash 855,641 137,887 993,528
Other current assets/(liabilities) 75,187 - 75,187
Creditors due after morethan one year (1,732,053) - (1,732,053)
1,157,522 3,172,527 4,330,049
—
Charity
Tangible fixed assets 1,958,747 3,034,640 4,993,387
Cash 581,489 - 581,489
Other current assets 325,096 - 325,096
Creditors due aftermore than one year (1,732,053) - (1,732,053)
1,133,279 3,034,640 4,167,919
Comparative information in respect ofthe preceding period is as follows:
Unrestricted Restricted
Funds Funds Total
Group £ £ £
Tangible fixed assets 1,945,203 3,078,356 5,023,559
Cash 414,680 332,261 746,941
Other current assets/{liabilities) 229,538 - 229,538
Creditors due aftermore than one year (1,784,262) - (1,784,262)
805,159 3,410,617 4,215,776
a a
Charity
Tangible fixed assets 1,945,203 3,078,356 5,023,559
Cash 197,430 - 197,430
Othercurrent assets 616,919 - 616,919
Creditors due aftermore than one year (1,784,262) - (1,784,262)
975,290 3,078,356 4,053,646

24. Constitution

The company is limited by guarantee and does not have a share capital. In the event of the company being wound up the members are committed to contributing £1 each.

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THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2020

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |25.|Reconciliation|of net|income/(expenditure)|to|net|cash|Year to|Year to| |flow from|operating|activities|31st|December|31st December| |2020|2019| |£|£| |Net income/(expenditure)|for|the year|114,273|90,530| |Interest|receivable|(1,015)|(1,843)| |Interest|payable|9,087|41,581| |Depreciation|66,787|58,478| |Decrease/({increase)|in|debtors|(174,949)|(572,491)| |(Decrease)/increase|in|creditors|326,918|790,506| |Net cash|flow|from|operating|activities|341,101|406,761| |26.|Analysis of changes|in|net|debt|Balance|at|Balance|at| |1st January|Non|cash|31st December| |2020|Cashflows|Changes|2020| |£|£|£|£| |Long term|borrowings|1,784,262|-|(52,209)|1,732,053| |Short term|borrowings|118,792|(49,827)|52,209|121,174| |Total|liabilities|1,903,054|(49,827)|-|1,853,227| |Cash|and|cash|equivalent|(746,941)|(246,587)|-|(993,528)| |Total|net debt|1,156,113|(296,414)|©|859,699|

----- End of picture text -----

27. Pensions and other post-retirement benefits

Defined contribution pension plans

The charity operates a defined contribution pension plan for its employees. The amount recognised as an expense in the period was £289,398 (2019 £29,868). Included in creditors at the year end is a pension liability of £250,000 (2019 NIL).

The defined contribution liability is allocated to unrestricted funds.

28. Related party transactions

There were no related party transactions during the current or previous years.

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Notes to the Financial Statements Year ended 31st December 2020

29. Contingent liabilities - grants

Grants may be repayable in certain circumstances, for example in the event that buildings are not used for their intended purpose or if all the conditions attached to any grant have not been met in full.

The trustees do not expect any liability to repay grants to crystallise and therefore no provision is made.

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