OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

THE WOMEN’S ORGANISATION

ANNUAL REPORT AND ACCOUNTS

for the year ended 31st December 2021

REGISTERED NUMBER: 6706841 CHARITY NUMBER: 1127631

’

| |

|

|

THE WOMEN’S ORGANISATION

Annual Report and Accounts for the year ended 31st December 2021

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |Contents|Page| |Reference|and|Administrative|Details|1| |Trustees’|Annual|Report|(including|Directors’|Report|and|Strategic|Report)|2| |Independent Auditors’|Report|i3| |Consolidated Statement of Financial Activities (including Income and Expenditure Account)|18| |Balance Sheets|20| |Consolidated|Statement|of Cash|Flows|21| |Notes to the|Financial Statements|22|

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

|

THE WOMEN’S ORGANISATION

Reference and Administrative Details 31st December 2021

Incorporated in England and Wales on 24th September 2008

Companynumber 6706841
Charity number 1127631
Trustees GA Moglione
§ M Oshikanlu
A Morgan
M N Mealey
J Croft
J A Gillespie
L M Pearson
Secretary M O’Carroll
Chief Executive M O’Carroll
Registered office 54 StJames Street
Liverpool
L1 OAB
StatutoryAuditor Mitchell Charlesworth (Audit) Limited
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

APage.

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2021

The directors, who are trustees of the charity, present this annua! report and the unaudited accounts for the year ended 31st December 2021. The trustees have adopted the provision of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and "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) (effective 1 January 2019)".

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.

2/Page

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2021

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

Ms M. O'Carroll Chief Executive Officer Ms H. Millne Deputy Chief Executive Officer

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 women's economic development activities, and actively promotes the work of the charity providing advice and training opportunities for women whoa suffer poverty and exclusion due their unemployed, age, BME, ex offender and /or disability status. Risks The charity has develaped 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 includes the non-charging of fees to our service users who face economic and social disadvantage.

Objectives and Aims

The objects of the Charity are:

3|Page

|

j | Hij|

THE WOMEN’S ORGANISATION

Trustees’ Annual Report {including Directors’ Report and Strategic Report) for the year ended 31st December 2021

WE ARE ACCESSIBLE - We are here for all women - whatever their story- and we can appreciate the most complex af 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 existingsolution, 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.

  • 4|Page

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report)

for the year ended 31st December 2021

In 2021 the charity continued to respond 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 econamic exclusion 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 well as skills for economic independence and community participation.

We have continued to work with a diverse range of clients, of the 687 new clients we have worked with in 2021 the profile was:

*%based upon number of responders.

During the same period 880 clients engaged in wider personal development and prestart support and 35 of these women started their own businesses.

As well as the above engagement, the organisation also delivered several virtual webinars offering immediate support identified through directly working with businesses, for example Marketing for Your Start up’ etc., From Furlough to Freelance’ Create Your Own CV and Create Your Own Cover Letter and the first in person WO Connect {formally Business Club) since 2020, engaging with 1524 entrepreneurs across the City Region.

In 2021 The Women's Organisation continued to lead the Enterprise Hub consortium as the accountable body and 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 13 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 Throughout 2021 we had applied for extensions for all European funded projects, this will allow us to work on the programmes until 2023.

5Page.

.

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2021

In 2021 The Women's Organisation led as accountable body in 10 consortium programmes:

The Women’s Organisation also became an advisory partner on The Other City at Islington Mill Creative Enterprise Support. This is Partnership offering business support for Creative SME’s and entrepreneurs based at Islington Mill and across Greater Manchester where we offer ERDF compliance advice throughout the partnership

In 2021 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 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 2021 the use of the tenanted space is 76% women led businesses and the remainder social enterprises both that meet the charity’s objectives and target groups. Conferencing bookings were continuing to improve after the decrease of bookings during 2020 and a total of 459 meeting rooms were booked at 54 StJames Street in 2021. This is an increase of 13.94% from 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.

6|Page

THE WOMEN'S ORGANISATION Trustees, Annual Report (including Directors, Report and Strategic Report) for the year ended 31st December 2021 As the COVID-19 pandemlc began to unfold and Servi￿5 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 buslness communitv. The organisation provided resources and the latest updates of the situatlon to cllents via the blog, social media and by phone or emall. Supported by the latest research the orgènisation warked on a number of policy influencing initiatives.. Contlnulng the organlsations partnershlp wlth the Enterprlse Research Centre. we published more reports as part ofthe State ofthe Art Review series. "Soclal Enterprise and Envlronmental Sustainability" outlines the role of social enterprises in tackling cllmate change. and hi8hli8hts how rnarket f3ilure5 at the root of envlronmental problems offer opportunities for sustainable business practices. https..l/ww.enterpriseresear¢h.a¢.ukJpublications/50cial-enterprlse-and- ènvironmental-sustalnabllityl 'What can Social Enterprises Contribute to the 'Levelling Up, Agenda?Pl reflects on the role of social enterprises reducing interregional inequalities the UK. https.'/Iwww.enterpri5e￿Search.ac.uk/pub1iCatlQns1what-Can-5OCial-enteTp￿lseS-C0rntribute-t0-the-1eveIIT￿g- UW3gendal Publlshed a report outlSning the Impact of Universal C￿dtt IUCI cuts on women in Liverpool City Region in response to the Governmenvs cuts to the UC uplift https.'/lwww.thewomensorgani53tion.org.uk/wp- contentluploadsl2021/lO/lmpatt-of-Universal-Credit-¢uts-on-Women-Liverpool-Oty-Region-2020-2021.pdf Contributed to the second edition of 'One Day, framework report, a c1￿C group formed In 2019 aimed at Increasing the vlsibillty of women In the LCR by creatlng a fair and inclusive City Reglon https.'Jlwww.thewomensor8anisatlon.org.uk/wp-contentluploads/2021109lOneDay-fullbooklet.pdf Published an upen letter to the UK Government calling for a collective and joined-up effort to tackle violence against women and girls https.'//www.thewomensorganisation.org.uk/wp-content/uploadsn021/lO/Open- letter-to-Government-take-action-now-to-protect-women-and-8irls-from-violence-and-abuse..pdf In November on Equal Pay Day. the organisation urged the LJK Government to address the widening pav inequality and shorttsll business supwrt fundinÈ for women's enterpri5e5 https'.//www.thewomen50rgani53tian.org.uVequal-pay-day-action-needed-now-to-stOP-uk-women-falling- behind/ Followingthe Autumn Budget annountemènt and ongoing COVID-Ig pandemic, the organisatlon continued to publish its response includin£ sustainable support for SMES. and recovery recommendations to ensure women and BAME group5 3Te given equal opportunityto thrive http5.'/Jwww.thewomen50rganisation.or8.ukl7363-21 Attended a discussion with fellow Women's Enterprlse Pollcy Group colleagues, women entrepreneurs, and the Minister for Sm811 Business Paul Scully to discuss thé barrier5 to female entrepreneurshlp and impact of COVID-19 on women's enterprise. The NIA Black Busines5 Hub pilot programme started in March 2021 and will complete in September 2021, with bjjo Positive Action Trainee Business Advisors hired for the duration of the programme. NBBH Is Liverpool City Re8ion'5 first business incubation and 5UPPOrt hub that focu5es on supporting potential and existing Black Businesses. The programme pilot airns to develop a deeper understanding of the challenges that BME communities face when starting or growing a business in LCR and produce a model of business support respondlng to the speclfSc needs of BME led busSnesses. There has been a total of 23 referrals recelvln£ intensiv@ busine$5 SUPPOrt and NBBH will hold their first Black Business Forum events next quarter. The final report will be published next qU8rter. including the research collated during the programme. consultation work with Prof. Monder Ram from Centre for Research In Ethnic Minor¢ty Entrepreneurship. Aston Business School. and case studles of buslnesses from across the Llverpool Clty Reglon.

THE WOMEN'S ORGAN15ATION Trustees, Annual Report {In¢ludln6 Dirertors, Report and Stratsgic Reportl for the year ended 31st December 2021 The organlsatlon was asked to comment on LCR Combined Authorivs Spatlal Development Strategy, which identifies key objectives for the Region and set5 Out what the SD5 should achieve 3nd dellver within the next 15 years and corbtributes to thelr approach to several key policy areas. Contributed to the LCR Business Skills Survey, which sought feedback from employers on their future skills and training needs as part of COVID-19 recovery plans. Followin8 the Sprlng Budget announcement and ongoing COVID-19 pandemic, the organisation continued to publish it5 response including sustdinable support for SMES, and recovery reeommendations to ensure women and BAME groups are given equal opportunity to thrive. Workimg wlth masters students from Strathclyde Unlversity, an Artion Plan and Approach to pollcy Influenclng was created for the organisation, to help develop the policy influendng strategv. Continuing the organlsations partnership with the Enterprise Research Centre, In April we published the first in a serles of five State of the Art Reviews.. 'Yhe role of social enterprise in developing 5kllls 3nd crealin8 employment opportunities in the UK" The report outllnes how social enterprises can play a pivotal role in the post-covirfv19 recovery through improved fundlng mechanisms and updated policy. httPs:/lWww,enterpri5ere5earch.ac.uk/publicatiors/the-rol￿of￿ocIaI-enterp￿se-1n-deVeI0pIng-Skljls-3￿d- creatlngmployment-OPPOrtunities-in-th&ukl Maggie O'carroll made a guest appearance on BBC Politics Northwest. providing comments and perspectTr on the pressure female bustness owners face working from home, the equality of 5UPPOrt available during covid-19, and SMES excluded from buslness support. Maggie O'carroll contributed to a round table discussion on the role of the BBC in the Northem, led by the Northern Powerhouse partner5hlp. Online marketing and soclal medla were a key focus for marketing as setvlces also moved online. At the end of 2021 the organisation had over 55.006 Twitter followers, 51,9301+3.14% on 20201 throu8h Tho WO and 46741-0.68%) through 545tJames Street. Cornbined followers on our other social media platform5 wereas follows: 20,9431+12.15% on 20201 followers on Facebook 12.9341+5.83%on 20201 connertion5 on Linkedln 22,4971• 15.72% on 20201 followers on Instagram The charity had previously expanded Its offer of fee-paying trèining services under the brand of 54 St James Street, opening our seNices to self-employed and employed women and men who may not be eli8ible for free pro8ramrnes, or need to complement their skills through addltlonal training. However. due to the Smpart of the COVID-19 pandemic. the organisation paused developing fee-paylng services further to focus on adapting and providing uninterrupted delivery of its fuFided pro6rammes. The charity wlll look to revlsit this approach in the future, as a revenue stream that is aligned with our social mission. Through 2021 the charity malntained Its consultancy services through the tradtng name Enterprise Evolutlon, and have continued to provide be5ptske enterprise education, social accounting and evalLJation services to customers in the UK and China.

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2021

Reserves policy

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

The trustees have seta reserves policy which requires:

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):

9|Page

: i i |

|

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2021

Remuneration Policy (continued)

tn 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 2021 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 2021 the trustees have maintained cash flow facilities to help facilitate partnership development and delivery going forward.

The accounts show net incoming resources of £451,482.

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.

10 | Page

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2021

THE WOMEN’S ORGANISATION

Financial Review (continued)

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 in 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.

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 assets of 54 St James Street, Liverpool are of significant value to the charity and provide a physical infrastructureto 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 make a gift aid payment of £664,736 (2020, £466,985) 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 2021 include:

Plans for future periods

Beyond 2021 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:

11|Page

|

,

THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report} for the year ended 31st December 2021

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 (including the Strategic 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. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing 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.

In so far as the trustees are aware:

Auditors

Mitchell Charlesworth (Audit) Limited 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 5 September 2022 and signed on its behalf by:

~ G A Moglione Trustee

12|Page

Mitchell Charlesworth (Audit) Limited

Accountants 5 Temple Square - Temple Street - Liverpool - L25RH

THE WOMEN’S ORGANISATION

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

Year ended 31st December 2021

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 2021 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 Ireland” (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.

43 [Page

Mitchell Charlesworth (Audit) Limited

Accountants

5 Temple Square - Temple Street - Liverpoo! - L2 5RH

THE WOMEN’S ORGANISATION

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

Year ended 31st December 2021

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. The trustees are responsible for the other information contained within the 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.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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 matters 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:

14|Page

Mitchell Charlesworth (Audit) Limited

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 2021

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 12, the trustees (who are also the directors of the parent 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 pareni 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

We have been appointed auditor under the Companies Act 2006 and report in accordance with this Act.

Our objectives are to obtain reasonabie 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:

e the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and ° the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

15|Page

a

:

|

| |

Mitchell Charlesworth (Audit) Limited

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 2021

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:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. Ahttps://www.fre.org.uk/auditorsresponsibilities.further description of our responsibilities Thisis descriptionavailable formson the partFinancial of our auditor’s report.Reporting Council’s website at

16|Page

Mitchell Charlesworth (Audit) Limited

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 2021

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.

Mr Philip Griffiths (Senior Statutory Auditor) for and on behalf of Mitchell Charlesworth (Audit) Limited

9 September 2022

Accountants

Statutory Auditor

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

OO

a

AT Page

THE WOMEN’S ORGANISATION

Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2021

Unrestricted Restricted Total Total
Notes Funds Funds 2021 2020
£ £ £ £
Income from:
Donations - - - 670
Charitable activities 2 2,836,092 1,140,582 3,976,674 3,489,930
Othertrading activities 3 1,693,506 - 1,693,506 1,358,188
Investments 4 159 - 159 1,015
Total income 4,529,757 1,140,582 5,670,339 4,849,803
Expenditure on:
Raisingfunds 6 69,419 - 69,419 72,701
Charitable activities 7 3,835,230 1,314,208 5,149,438 4,662,829
Total expenditure 3,904,649 1,314,208 5,218,857 4,735,530
Netincome/(expenditure) 625,108 (173,626) 451,482 114,273
Reconciliation offunds:
Total funds broughtforward 1,157,522 3,172,527 4,330,049 4,215,776
Totalfundscarriedforward 1,782,630 2,998,901 4,781,531 4,330,049

All income and expenditure derives from continuing activities,

The notes on pages 22 to 35 form part of these financial statements

18|Page

THE WOMEN’S ORGANISATION

Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2021

Comparative information for the year ended 31st December 2020

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |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| |Expenditure|on:| |Raising funds|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|of funds:| |Total|funds|brought forward|805,159|3,410,617|4,215,776|4,125,246| |Total|funds|carried forward|1,157;522|3,172,527|4,330,049|4,215,776|

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

The notes on pages 22 to 35 form part of these financial statements

19|Page

|

i

5

,

THE WOMEN’S ORGANISATION

Balance Sheets

31st December 2021

Notes 2021 2020
Group Charity Group Charity
£ £ £ £
Fixed assets
Tangible assets 15 4,988,227 4,988,227 4,993,387 4,993,387
4,988,227 4,988,227 4,993,387 4,993,387
_ 7
Current assets
Debtors 17 3,576,174 1,001,079 1,734,206 736,875
Cash at bank and in hand 1,005,132 545,152 993,528 581,489
4,581,306 1,546,231 2,727,734 1,318,364
7
Creditors
Amounts falling due within one year 18 3,136,046 263,104 1,659,019 411,779
Net current assets 1,445,260 1,283,127 1,068,715 906,585
Total assets less current liabilities 6,433,487 6,271,354 6,062,102 5,899,972
Creditors
Amounts falling due aftermorethan one
year 19 1,651,956 1,651,956 1,732,053 1,732,053
Netassets 4,781,531 4,619,398 4,330,049 4,167,919
Funds a a a a
Unrestricted funds
General funds 22 1,782,630 1,628,474 1,157,522 1,133,279
Restricted funds 22 2,998,901 2,990,924 3,172,527 3,034,640
Totalfunds 23 4,781,531 4,619,398 «4,330,049 4,167,919

The financial statements were approved by the Trustees and authorised for issue on 5 September 2022, and are signed on their behalf by:

GAMoglione - Trustee

Company Registration Number: 6706841

The notes on pages 22 to 35 form part of these financial statements

20|Page

THE WOMEN’S ORGANISATION

Consolidated Statement of Cash Flows 31st December 2021

Notes 2021 2020
£ £ £ £
Cashflowfrom operating activities 25 174,687 341,101
Cash flowfrom investing activities
Payments to acquiretangible fixed assets (42,797) (36,615)
Interest received 159 1,015
Netcash flowfrom investing activities (42,638) (35,600)
Cash flowfrom financing activities
Repayment of longterm loans (85,094) (49,827)
Interest paid (35,351) (9,087)
Netcash flowfrom financing activities (120,445) (58,914)
Netincrease in cash and cash equivalents 11,604 246,587
Cash and cash equivalent at IstJanuary 2021 993,528 746,941
Cash and cash equivalents at31st December2021 1,005,132 993,528
Cash and cash equivalents consists of:
Cash atbankand in hand 1,005,132 993,528
Cashandcashequivalentsat31stDecember2021 1,005,132 993,528

The notes on pages 22 to 35 form part of these financial statements

OTPage

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2021

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) (effective 1 January 2019), the Companies Act 2006 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.

c) Income recognition All incoming resources are included in the Statement of Financia! 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 leve! 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.

22|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2021

if 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:

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.

f) Tangible fixed assets

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%perannum 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.

h) __Laans and borrowings Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

23 |Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

  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.

  2. 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.

2: Income from Income from charitable activities Total Total
Unrestricted Restricted 2021 2020
£ £ £ £
Training and servicecontracts 2,836,092 1,140,582 3,976,674 3,489,930

Income from charitable activities in 2020 was £3,489,930, of which £946,027 was attributable to restricted and £2,543,903 was attributable to unrestricted funds.

24|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

3. Incomefrom othertrading activities Total Total
Unrestricted Restricted 2021 2020
£ £ £ £
Service and training contacts 1,664,103 - 1,664,103 1,315,957
Facilities hire 29,403 - 29,403 42,231
1,693,506 - 1,693,506 1,358,188
Income from other trading activities in 2020 was £1,358,188, of which £360,534 was attributable to restricted
and £997,654 was attributable to unrestricted funds.
4. Incomefrom investments Total Total
Unrestricted Restricted 2021 2020
£ £ £ £
Bankinterestreceivable 159 - 159 1,015

Income from investments in 2020 was £1,015, all of which was attributable to unrestricted funds.

5. 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:-

included within the Consolidated Statement of Financial Activities are as follows:-
£
Income 5,016,541
Operating expenses (4,351,909)
Operating surplus 664,632
Interest receivable 104
Surplus forthe period before taxation 664,736
Taxation -
Surplus forthe period aftertaxation 664,736
Distribution to parent charity (664,736)
Surplus forthe period -
Reserves represented by:-
Current assets 3,942,053
Creditors duewithin one year (3,779,923)
162,130

O85Page

r

i |

;

:

|

i

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

6. Analysis ofexpenditure on raisingfunds 2021 2020
Total Total
£ £
Facilities management 60,746 63,243
Client services 8,673 9,458
Total expenditure 69,419 72,701
All ofthe above costs in the currentand previous yearwere attributable to unrestricted funds.
Zs Analysis ofexpenditure on charitable Direct Supportcosts 2021 2020
activities costs {seenote 8) Total Total
£ £ £ £
Facilities management 129,114 16,193 145,307 144,071
Client services 4,583,139 420,992 5,004,131 4,591,459
4,712,253 437,185 5,149,438 4,735,530

£1,314,208 of the above costs were attributable to restricted funds (2020 £1,544,651) and £3,835,230 (2020 £3,190,879) of the above costs were attributable to unrestricted funds.

8. Allocation ofsupportcosts 2021 2020
£ £
Governance (see note 9) 13,170 12,520
Staff costs 224,837 213,538
Telephone 2,202: 2,118
Printing, postage and stationery 2,389 1,823
Computer costs 54,484 54,203
Hire ofequipment 6,743 7,110
Repairs and maintenance 1,404 3,409
Legal and professional 13 10,909
Dissemination 1,820 60
Bank interest 35,351 9,087
Bank charges 2,399 3,944
Depreciation 47,957 66,787
irrecoverable VAT 6,210 -
Bad debts - 534
Sundry 16,145 15,686
Insurance 1,261 2,197
Marketing 19,132 14,654
Loss/(profit) on foreign exchange 1,598 -
437,185 418,579

26|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

9. Governance costs 2021 2020
£ £
Audit fees 13,170 12,520
10. Netincome/(expenditure) resources forthe year Total Total
2021 2020
This is stated after charging/(crediting): £ £
Auditfees 13,170 12,520
Depreciation offixed assets 47,957 66,787
Operating lease rentals
Land and buildings 2,000 2,000
11. Auditor’s remuneration
The auditor’s remuneration for the group amounts to an auditfee of£12,954 (2020 £12,100) and non-audit fees
of£216 (2020 £420).
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 £100 (2020 £1,672)were reimbursed to 3 (2020 2) trustees.
The total amount of employee benefits received by key management personnel is £397,793 (2020 £557,105).
The trustees considerthe key management personnel to be the Chief Executive, the Deputy Chief Executive, the
Programme Director, Finance Manager, Operations Manager and Development Director.
13. Staff costs Total Total
2021 2020
Group staffcosts and employee benefits were as follows: £ £
Wages and salaries 1,638,445 1,321,738
Social security costs 160,972 126,083
Defined contribution pension costs 126,025 289,398
1,925,442 1,737,219
The average monthly number ofemployees and full time equivalents (FTE) duringtheyearwas asfollows:-
2021 2021 2020 2020
Number FTE Number FTE
Clientfacing and advisory 24 22 25 20
Management 5 5 5 5
Administrative and support 24 23 17 15
53 50 47 40

27 |Page

, a

;

4 :

7

.

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

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:-

than £60,000 per annumannum were as follows:-
2021 2020
Number Number
£70,001 -£80,000 Nil 2
£80,001 -£90,000 2 Nil
14. Interest payable and similarexpenses 2021 2020
£ £
Bank loans and overdrafts 35,351 9,087
15. Tangiblefixed assets Office
Leasehold land Equipment
Group and charity & buildings & fixtures Total
£ £ £
Cost or valuation
At 1stJanuary2021 5,208,042 460,132 5,668,174
Additions - 42,797 42,797
Disposals -
—		 (17,699)
as		 {17,699}
ee
At 31st December 2021 5,208,042 485,230 5,693,272
Depreciation
At 1stJanuary2021 256,317 418,470 674,787
Charge fortheyear 28,984 18,973 47,957
Eliminated on disposal - (17,699) (17,699)
At 31st December 2021 285,301 419,744 705,045
Net book value
At 31st December 2021 4,922,741 65,486 4,988,227
At31stDecember2020 4,951,725 41,662 4,993,387

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.

28|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

17. Debtors Group Charity Group Charity
2021 2021 2020 2020
£ £ £ £
Trade debtors 32,149 30,700 164,452 14,831
Prepayments and accrued income 3,539,274 63,398 1,563,502 2,289
Other debtors 4,751 - 6,252 4,286
Amountsowed by subsidiary undertaking - 906,981 - 715,469
3,576,174 1,001,079 1,734,206 736,875
18. Creditors:Amounts fallingduewithin oneyear Group Charity Group Charity
2021 2021 2020 2020
£ £ £ £
Futurebuilders loan 102,027 102,027 98,681 98,681
Bank loans and overdrafts 14,150 14,150 22,493 22,493
Trade creditors 13,233 10,488 17,330 13,506
Other taxand social security 49,646 6,796 32,677 ~
Accruals and deferred income 2,936,124 118,931 1,458,649 256,000
Other creditors 20,866 10,712 29,189 21,099
3,136,046 263,104 1,659,019 411,779
19. Creditors: Amounts fallingdue aftermore Group Charity Group Charity
than oneyear 2021 2021 2020 2020
£ £ £ £
Futurebuilders loan 1,646,921 1,646,921 1,710,244 1,710,244
Bank loan 5,035 5,035 21,809 21,809
1,651,956 1,651,956 1,732,053 1,732,053

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.

29|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 3ist December 2021

20. Maturity of debt

Maturity of debtof debtdebt 2021 2020
£ £
Creditors include finance capita! which is due for repayment as follows:
Amounts repayable:
In one year or less on demand 116,177 121,174
In morethan one year but not morethan two years 110,631 117,123
In more than two years but notmorethan five years 323,444 214,497
Due afterfive years 1,217,881 1,400,433
1,768,133 1,853,227
Operating leasecommitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
2021 2020
Land & Land &
buildings Other buildings Other
£ £ £ £
Not laterthan oneyear 2,000 - 2,000 5,227
Laterthan one and not laterthan five years 8,000 - 8,000 -
Laterthan fiveyears 221,000 - 223,000 -
231,000 - 233,000 5,227

21. Operating lease commitments

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
01/01/21 Income Expenditure 31/12/21
£ £ £ £
Group 1,157,522 4,529,757 (3,904,649) 1,782,630
Charity 1,133,279 1,256,990 (761,795) 1,628,474
Comparative information in respect ofthe preceding period is asfollows:
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
30

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

22. Fund reconciliation {continued)

Restricted funds Balance Balance
01/01/21 Income Expenditure 31/12/21
Group £ £ £ £
Social Investment Fund: Future Builders Capital
Grant (54 StJames Street) 376,208 - (5,416) 370,792
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 StJames Street) 482,272 - (6,946) 475,326
European Regional Development Fund (54 St
James Street) 2,155,110 - (31,047) 2,124,063
Liverpool Vision (54StJames Street} 21,050 - (307) 20,743
Building BetterOpportunities 137,887 1,041,645 (1,179,532) -
Smallwood Trust - 37,500 (29,523) 7,977
Liverpool City Region—Hot 3 - 61,437 (61,437) -
3,172,527 1,140,582 (1,314,208) 2,998,901
Balance Balance
01/01/21 Income Expenditure 31/12/21
Charity £ £ £ £
Social Investment Fund: Future Builders —
Capital Grant (54 StJames Street) 376,208 - (5,416} 370,792
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 StJames Street) 482,272 - (6,946) 475,326
European Regional Development Fund (54 St
James Street) 2,155,110 - (31,047) 2,124,063
Liverpool Vision (54 StJames Street) 21,050 - (307) 20,743
Liverpool City Region — Hot 3 - 61,437 (61,437) -
3,034,640 61,437 (105,153) 2,990,924

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

22. Fund reconciliation (continued)

Restricted funds (continued)

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

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
James Street) 2,186,157 - (31,047) 2,155,110
Liverpool Vision (54StJames Street) 21,357 - (307) 21,050
ProgresstoSuccess - 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 (54St James 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

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.

32|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

22. Fund reconciliation (continued)

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

The Women’s Organisation is a Community Grant Partner for the Smallwood Trust Women’s Resilience Fund, providing small financial grants to women on law income, to help them become more financially resilient and stable. This is achieved by the grants supporting individuals through financial hardship, employment pathways, housing needs or health and wellbeing. During 2021 the organisation has assessed and authorised 41 applications for support totalling over £25,000 in grant payments.

From February to April 2021, The Women’s Organisation was contracted to support the Liverpool City Region Combined Authority with the compliance and administration of applications for the Local Business Support Grant. The fund was available for small and microbusinesses negatively affected by the pandemic, for example having been ordered to close, that were outside the business rates system or that could demonstrate a loss of income of more than 40%. The supported provided by The Women’s Organisation enabled the LCR CA to efficiently work through over 2000 applications, speeding up the approval process and ultimately helping local businesses, many that were in financial crisis due to the pandemic.

23. Analysisofnetassetsbetween funds Unrestricted Restricted
Funds Funds Total
Fund balances at31st December 2021 are represented by: £ £ 3
Group
Tangible fixed assets 1,997,303 2,990,924 4,988,227
Cash 997,155 7,977 1,005,132
Other current assets 440,128 - 440,128
Creditorsdue aftermorethan oneyear (1,651,956) - (1,651,956)
1,782,630 2,998,901 4,781,531
Charity
Tangible fixed assets 1,997,303 2,990,924 4,988,227
Cash 545,152 - 545,152
Othercurrent assets/(liabilities) 737,975 - 737,975
Creditors dueaftermorethan oneyear (1,651,956) - (1,651,956)
1,628,474 2,990,924 4,619,398

33|Page

’

i

7

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

23. Analysis of net assets between funds

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

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |Unrestricted|Restricted| |Funds|Funds|Total| |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 more|than|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|after|more than|one|year|(1,732,053)|-|(1,732,053)| |1,133,279|3,034,640|4,167,919|

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

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.

----- 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| |2021|2020| |£|£| |Net|income/(expenditure)|for the|year|451,479|114,273| |Interest|receivable|(159)|(1,015)| |Interest|payable|35/351,|9,087| |Depreciation|47,957|66,787| |(Increase)|in|debtors|(1,841,968)|(174,949)| |Increase|in|creditors|1,482,027|326,918| |Net|cash|flow from|operating|activities|174,687|341,101|

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

34|Page

THE WOMEN’S ORGANISATION

Notes to the Financial Statements

Year ended 31st December 2021

----- Start of picture text -----
||||||||||| |---|---|---|---|---|---|---|---|---|---| |26.|Analysis|of changes|in|net|debt|Balance|at|Balance|at| |ist January|Non|cash|31st|December| |2021|Cashflows|Changes|2021| |£|£|£|£| |Long|term|borrowings|1,732,053|-|(80,097)|1,651,956| |Short term|borrowings|121,174|(85,094)|80,097|116,177| |Total|liabilities|1,853,227|(85,094)|-|1,768,133| |Cash|and|cash|equivalents|(993,528)|(11,604)|-|(1,005,132)| |Total|net debt|859,699|(96,698)|-|763,001|

----- 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 £126,025 (2020 £289,398). Included in creditors at the year end is a pension liability of £38,160 (2020 £250,000).

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.

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.

35|Page

THE WOMEN’S ORGANISATION

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2021

Unrestricted Restricted Total Total
Funds Funds 2021 2020
Income from:- £ £ £ £
Donations and legacies 664,736 - 664,736 467,655
Charitable activities - 61,437 61,437 159,189
Othertrading activities 592,199 - 592,199 252,185
Investments 55 - 55 214
Total income 1,256,990 61,437 1,318,427 $79,243
Expenditure on:-
Othertrading activities 69,419 - 69,419 72,701
Charitable activities 692,376 105,153 797,529 692,269
Total expenditure 761,795 105,153 866,948 764,970
Netincome/(expenditure) 495,195 (43,716) 451,479 114,273
Reconciliation offunds:
Total funds brought forward 1,133,279 3,034,640 4,167,919 4,053,646
Totalfundscarriedforward 1,628,474 2,990,924 4,619,398 4,167,919

All activities relate to continuing operations

THE WOMEN’S ORGANISATION

Schedule to the Statement of Financial Activities

for the year ended 31st December 2021

Unrestricted Restricted Total Total
Funds Funds 2021 2020
Incoming resources £ £ £ £
Donations 664,736 - 664,736 467,655
Incoming resourcesfrom charitable activities
Project income - Progress to Success - - - 7,753.
HM Government/National Lottery Community Fund - - = 87,436
Liverpool City Region —Hot3 - 61,437 61,437 -
- 61,437 61,437 159,189
Incoming resourcesfrom other trading activities
Service and training contracts 562,796 - 562,796 209,954
Facilities hire 29,403 - 29,403 42,231
592,199 - 592,199 252,185
Investment income
Bank
interestreceivable		 55 - 55 214

THE WOMEN’S ORGANISATION

Balance Sheet

At 31st December 2021

2021 2020
£ £ £ £
Fixed assets
Tangible assets 4,988,227 4,993,387
Current assets
Debtors 1,001,079 736,875
Cash at bank and in hand 545,152 581,489
1,546,231 1,318,364
Creditors:Amounts falling due within
oneyear 263,104 411,779
Netcurrent assets 1,283,127 906,585
Total assets less current liabilities 6,271,354 5,899,972
Creditors: Amounts falling due after
morethan oneyear (1,651,956) (1,732,053)
Net assets 4,619,398 4,167,919
Funds
Unrestricted funds:
General 1,628,474 1,133,279
Restricted funds 2,990,924 3,034,640
4,619,398 4,167,919