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2023-12-31-accounts

ANNUAL REPORT AND ACCOUNTS

for the year ended 31st December 2023

REGISTERED NUMBER: 6706841 CHARITY NUMBER: 1127631

THE W

Annual Report and Accounts for the year ended 31st December 2023

Contents Page
Reference and Administrative Details 1
2
12
Consolidated Statement of Financial Activities (including Income and Expenditure Account) 17
Balance Sheets 19
Consolidated Statement of Cash Flows 20
Notes to the Financial Statements 21

THE WOME S ORGANISATION

Reference and Administrative Details 31st December 2023

Incorporated in England and Wales on 24th September 2008 Incorporated in England and Wales on 24th September 2008
Company number 6706841
Charity number 1127631
Trustees S M Oshikanlu
G A Moglione
A Morgan
M T Navin-Mealey
J Croft
J A Gillespie
L M Pearson
Secretary
Chief Executive
Registered office 54 St James Street
Liverpool
L1 0AB
Statutory Auditor Mitchell Charlesworth (Audit) Limited
Accountants
Statutory Auditor
5 Temple Square
Temple Street
Liverpool L2 5RH
Banker National Westminster Bank plc
Liverpool City Business Centre
2-8 Church Street
Liverpool
Merseyside
L1 3BG

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Trustees

for the year ended 31st December 2023

THE WOME S ORGANISATION

The directors, who are trustees of the charity, present this annual report and the audited accounts for the year ended 31st December 2023.

Structure, Governance and Management

The charity was incorporated on 24th September 2008 as a successor to the registered not-for-profit company Train opment services. 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'.

The Board 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 biannually. 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'Carroll Chief Executive Officer Ms H. Millne Deputy Chief Executive Officer

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Trustees for the year ended 31st December 2023

THE WOME S ORGANISATION

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 who suffer poverty and exclusion due their unemployed, age, BAME, 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 Commis benefit. We conduct practical application of the public benefit test which for example including the non-charging of fees to our service users who face economic and social disadvantage.

Strategic Report

Objectives and Aims

The objects of the Charity are:

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Trustees ort)

THE WOME S ORGANISATION

for the year ended 31st December 2023

Charity's aims and strategies for achieving objectives

The charity will achieve its charitable objectives through:

During 2023 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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Trustees for the year ended 31st December 2023

THE WOME S ORGANISATION

Charity's aims and strategies for achieving objectives (continued)

In 2023 the c continued to respond to issues arising from the cost of living crisis living and continued to make considerable strides in achieving its charitable and wider social objectives. Having built upon the 27 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 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 1,788 new clients (969 in 2022, +84%) we have worked with in 2023 the profile was:

94% women 16% disabled 40% declared mental ill health/stress 13% BAME 20% over 50 years age 17% single parent 1% no qualifications/low level education 2% ex -offenders 21.2% unemployed, of which 31% of these long-term unemployed (>12mths) 9.8% economically inactive

*%based upon number of responders.

Clients engaged in pre or post business start services, personal development, employability support and professional development training. Clients were supported in starting a business and existing businesses were supported in the creation of new jobs. The organisation was successful in supporting the progression and professional development of clients in several ways including women reporting improved labour market status (promotion, pay rise etc.) and over 500 clients completed units of accredited qualifications.

The organisation continued to deliver a core offering of business courses as well as several events addressing specific needs identified through directly working with businesses, for example sustainability and net-zero for business, financial capabilities, developing pitches, as well as in person peer networking events, engaging with entrepreneurs across the City Region.

In 2023 The Women's Organisation continued to lead the Enterprise Hub consortium as the accountable body and managing partner. The charity led 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, was integral to the Local Enterprise Partnership and Combined Authority strategies, and ensured a comprehensive, quality service to aspiring entrepreneurs The Enterprise Hub programme was expected to be refunded through UKSPF at the end of European Funding. In the event the responsibility for UKSPF funded business support has been devolved to local authorities who have essentially taken on the delivery function. The highly impactful one front door and accessible service provided through Enterprise Hub closed in June 2023 as ERDF (European Regional Development Fund) finished.

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Trustees

THE WOME S ORGANISATION

for the year ended 31st December 2023

Charity's aims and strategies for achieving objectives (continued)

In 2023 The Women's Organisation led as accountable body in 10 consortium programmes:

rganisation also continued to be an advisory partner on The Other City at Islington Mill Creative Enterprise Support until its completion in September 2023. This Partnership offered business support for Creative and entrepreneurs based at Islington Mill and across Greater Manchester. The Women s Organisation provided ERDF compliance advice throughout the partnership.

We also successfully bid for and confirmed income from Department of Health and Social Care, EU Partners and LCR Combined Authority on behalf of community partners running to 2025.

In 2023 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. By the close of 2023 the use of the tenanted space is circa 50% women led businesses and the remainder social enterprises both that meet the charities objectives and target groups. Conferencing customers have increased by 28% in 2023 (from 2022) and bookings have increased by 10%.

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 represented 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.

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Trustees

for the year ended 31st December 2023

THE WOME S ORGANISATION

Charity's aims and strategies for achieving objectives (continued)

The organisation continued a hybrid approach to providing services, with increasing in-person support delivery where appropriate and based on client need. The organisation has been able to see first-hand the continuing effects of the pandemic and cost of living and economic pressures on our clients, wider service users and the local business community. The organisation continued to provide resources, updates and support to clients via the blog, social media and by phone or email.

Supported by the latest research the organisation worked on a number of policy influencing initiatives:

https://www.enterpriseresearch.ac.uk/wp-content/uploads/2022/10/ERC-Insight-Women-as-EntrepreneursLessons-Unlearned-T.-Cannon-1.pdf

Online marketing and social media were a key focus for marketing as services continued to be delivered online.

Combined followers on our other social media platforms are all increased on 2022 figures as follows:

Facebook: 24,238 Linked In: 12,076 Instagram:22,927 Twitter/ X: 50,050

Through 2023 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, China and Brazil.

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Trustees eport and Strategic Report)

THE WOME S ORGANISATION

for the year ended 31st December 2023

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 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 WOME S ORGANISATION

Trustees

for the year ended 31st December 2023

Remuneration Policy (continued)

The main responsibilities of the sub-group are to:

In determining The Women's Organisation's remuneration policy, the remuneration sub-group 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 pay at least the Real Living Wage for all our staff, including direct suppliers.

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 2023 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 core services of gender lensed delivery and the income generated through 54 St James Street.

In 2023 the trustees have maintained cash flow facilities to help facilitate partnership development and delivery going forward.

The accounts show net incoming resources of £663,634 (2022 £531,088).

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 2024; 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.

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Trustees l Report and Strategic Report) for the year ended 31st December 2023

THE WOME S ORGANISATION

Financial Review (continued)

The Women's Organisation is working strategically at a national level to influence successor investment, currently the potential UK Shared Prosperity Fund, that will replace European funding at the end of this programme 2023. 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 tenth 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 is of significant value to the charity and provides 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 make a gift aid payment of £972,366 (2022- £874,269) 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 2023 include:

Plans for future periods

Beyond 2023 the charity's key aims are to deliver innovative economic development services to women nationally; 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:

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THE WOME N’ S ORGANISATION

Trustees ” Annual Report (including for the year ended 31st December 2023

Sta onsibilities

The trustees (who are also directors of The Women’s Organis ation for the purposes of company law) are responsible for preparing the Trustees’ Annual Re port (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.

In approving the Trustees Annual Report, we also approve the Strategic Report included therein, in our capacity as company directors.

This report was approved by the Board of Trustees on 28 August 2024 and signed on its behalf by:

S M Oshikanlu Trustee

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Mitchell Charlesworth (Audit) Limited

Accountants

5 Temple Square · Temple Street · Liverpool · L2 5RH

THE WOMEN S ORGANISATION

Independ

Members

Year ended 31st December 2023

Opinion

We have audited the financial statements of The W ganisation charitable company s subsidiaries (the gr for the year ended 31st December 2023 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 he Financial Reporting Standard applicable in the UK and Republic of Irela (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 Audit e 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, ard, 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 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 gr 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 (Audit) Limited

Accountants

5 Temple Square · Temple Street · Liverpool · L2 5RH

THE WOMEN ANISATION

Independent t to the Members of The Women Organisation

Year ended 31st December 2023

Other information

The other information comprises the information included in the Trustees eport, other than the financial statements and our Audit 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:

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Mitchell Charlesworth (Audit) Limited

Accountants

5 Temple Square · Temple Street · Liverpool · L2 5RH

THE WO ORGANISATION

Independ

o the Members of The Wome s Organisation

Year ended 31st December 2023

Responsibilities of trustees

As explained more fully in the responsibilities statement set out on page 11, 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 and parent charitable company 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 ponsibilities 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 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 audi t that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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

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.

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Mitchell Charlesworth (Audit) Limited

Accountants

5 Temple Square · Temple Street · Liverpool · L2 5RH

THE RGANISATION

Independe the Mem

Year ended 31st December 2023

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:

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) 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.

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Mitchell Charlesworth (Audit) Limited

Accountants

5 Temple Square · Temple Street · Liverpool · L2 5RH

THE WOMEN ’SO RGANISATION

Independent Auditor’s Report to the Mem bers of The Wom en’s Organisa tion

Year ended 31st December 2023

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.

A further description of our responsibilities is available on the Financial Reporting Counc https:// ~~a~~ www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor ’sS report.

Use of our report

This report is made solely to the charita ble 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 c ompany’ s members those matters we are required to state to them in an auditor’s report and for n o 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 compa ny’ 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

30 August 2024

Accountants 3rd Floor Statutory Auditor 5 Temple Square Temple Street Liverpool Merseyside L2 5RH

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THE WOME ORGANISATION

Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2023

Unrestricted
Restricted
Notes
Funds
Funds
£
£
Income from:
Charitable activities
2
3,624,666
1,030,959
Other trading activities
3
1,974,741
-
Investments
4
32,752
-
Total income
5,632,159
1,030,959
Expenditure on:
Raising funds
6
116,842
-
Charitable activities
7
4,815,314
1,067,328
Total expenditure
4,932,156
1,067,328
Net income/(expenditure)
700,003
(36,369)
Reconciliation of funds:
Total funds brought forward
2,360,450
2,952,169
Total funds carried forward
3,060,453
2,915,800		 Total
2023
£
4,655,625
1,974,741
32,752
6,663,118
116,842
5,882,642
5,999,484
663,634
5,312,619
5,976,253		 Total
2022
£
4,449,000
1,017,089
2,235
5,468,324
116,961
4,820,275
4,937,236
531,088
4,781,531
5,312,619

All income and expenditure derive from continuing activities.

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

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THE WOME ORGANISATION

Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2023

Comparative information for the year ended 31st December 2022

Unrestricted
Restricted
Notes
Funds
Funds
£
£
Income from:
Charitable activities
2
3,040,900
1,408,100
Other trading activities
3
1,017,089
-
Investments
4
2,235
-

Total income
4,060,224
1,408,100
Expenditure on:
Raising funds
6
116,961
-
Charitable activities
7
3,365,443
1,454,832

Total expenditure
3,482,404
1,454,832
Net income/(expenditure)
577,820
(46,732)
Reconciliation of funds:
Total funds brought forward
1,782,630
2,998,901
Total funds carried forward
2,360,450
2,952,169		 Total
2022
£
4,449,000
1,017,089
2,235
5,468,324
116,961
4,820,275
4,937,236
531,088
4,781,531
5,312,619		 Total
2021
£
3,976,674
1,693,506
159
5,670,339
69,419
5,149,438
5,218,857
451,482
4,330,049
4,781,531

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

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THE WOME ORGANISATION

Balance Sheets 31st December 2023

Notes 2023 2022
Group Charity Group Charity
£ £ £ £
Fixed assets
Tangible assets 15 4,909,615 4,909,615 4,945,874 4,945,874
4,909,615 4,909,615 4,945,874 4,945,874
Current assets
Debtors 17 1,217,934 1,349,869 2,085,631 1,139,148
Cash at bank and in hand 3,124,452 1,180,178 2,103,758 794,861
4,342,386 2,530,047 4,189,389 1,934,009
Creditors
Amounts falling due within one year 18 1,834,266 185,120 2,276,930 183,297
Net current assets 2,508,120 2,344,927 1,912,459 1,750,712
Total assets less current liabilities 7,417,735 7,254,542 6,858,333 6,696,586
Creditors
Amounts falling due after more than one
year 19 1,441,482 1,441,482 1,545,714 1,545,714
Net assets 5,976,253 5,813,060 5,312,619 5,150,872
Funds
Unrestricted funds
General funds 23 3,060,453 2,909,568 2,360,450 2,203,664
Restricted funds 23 2,915,800 2,903,492 2,952,169 2,947,208
Total funds 24 5,976,253 5,813,060 5,312,619 5,150,872

The financial statements were approved by the Trustees and authorised for issue on 28 August 2024, and are signed on their behalf by:

S M Oshikanlu - Trustee

Company Registration Number: 6706841

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

19 | P a g e

THE WOMEN

ISATION

Consolidated Statement of Cash Flows 31st December 2023

Notes 2023 2022
£ £ £ £
Cash flow from operating activities 26 1,138,238 1,259,633
Cash flow from investing activities
Payments to acquire tangible fixed assets (9,886) (15,749)
Interest received 32,752 2,235
Net cash flow from investing activities 22,866 (13,514)
Cash flow from financing activities
Repayment of long-term loans (108,752) (111,789)
Interest paid (31,658) (35,704)
Net cash flow from financing activities (140,410) (147,493)
Net increase in cash and cash equivalents 1,020,694 1,098,626
Cash and cash equivalents at 1st January 2023 2,103,758 1,005,132
Cash and cash equivalents at 31st December 2023 3,124,452 2,103,758
Cash and cash equivalents consist of:
Cash at bank and in hand 3,124,452 2,103,758
Cash and cash equivalents at 31st December 2023 3,124,452 2,103,758

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

20 | P a g e

Notes to the Financial Statements Year ended 31st December 2023

THE WOME ORGANISATION

1. Summary of significant accounting policies

a) General information and basis of preparation

The Women s Organisation is a charitable company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 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 Truste t 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 costs 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 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 nnual Report.

21 | P a g e

Notes to the Financial Statements Year ended 31st December 2023

THE WOME ORGANISATION

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:

Other expenditure represents those items not falling into the categories above.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

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.

f) Tangible fixed assets

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

h) Loans 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.

22 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

1. Summary of significant accounting policies (Continued)

i) Tax

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.

l) Employee benefits

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.

o) Judgements and key sources of estimation uncertainty

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom agree to the subsequent actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Provision has been made for any potential clawback of income on European funded contracts that have now completed and are open to audit in the post year-end period. There is estimation uncertainty as to the amount of such clawback which will only be known when such audits have been completed.

2. Income from charitable activities Total Total
Unrestricted Restricted 2023 2022
£ £ £ £
Training and service contracts 3,624,666 1,030,959 4,655,625 4,449,000

Income from charitable activities in 2022 was £4,449,000, of which £1,408,100 was attributable to restricted and £3,040,900 was attributable to unrestricted funds.

23 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

3.
Income from other trading activities
Unrestricted
£
Service and training contacts
1,908,298
Facilities hire
66,443
1,974,741		 Restricted
£
-
-
-		 Total
2023
£
1,908,298
66,443
1,974,741		 Total
2022
£
969,193
47,896
1,017,089

Income from other trading activities in 2022 was £1,017,089, of which £Nil was attributable to restricted and £1,017,089 was attributable to unrestricted funds.

4. Income from investments Total Total
Unrestricted Restricted 2023 2022
£ £ £ £
Bank interest receivable 32,752 - 32,752 2,235

Income from investments in 2022 was £2,235, all of which was attributable to unrestricted funds.

5. Subsidiary undertaking

isation (Trading) Limited (company number 03146623)

The results of the subsidiary, T included within the Consolidated Statement of Financial Activities are as follows:-

£
Income 6,141,144
Operating expenses (5,188,674)
Operating surplus 952,470
Interest receivable 21,342
Surplus for the period before taxation 973,812
Taxation -
Surplus for the period after taxation 973,812
Distribution to parent charity (972,366)
Profit for the period 1,446
Reserves represented by:-
Current assets 3,022,003
Creditors due within one year (2,858,813)
163,190

24 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

6.
Analysis of expenditure on raising funds
Facilities management
Client services
Total expenditure		 2023
Total
£
74,253
42,589

116,842		 2022
Total
£
72,913
44,048
116,961

All of the above costs in the current and previous year were attributable to unrestricted funds.

7.
Analysis of expenditure on charitable activities
Facilities management
Client services		 Direct
costs
Support costs
(see note 8)
£
£
193,271
42,589
5,005,866
640,916
5,199,137
683,505		 2023
Total
£
235,860
5,646,782
5,882,642

£1,067,328 of the above costs were attributable to restricted funds (2022 £1,454,832) and £4,815,314 (2022 £3,365,443) of the above costs were attributable to unrestricted funds.

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

Facilities management
Client services		 Direct
costs
Support costs
(see note 8)
£
£
190,163
44,048
3,944,247
641,817


4,134,410
685,865		 2022
Total
£
234,211
4,586,064
4,820,275

£1,454,832 of the above costs were attributable to restricted funds (2021 £1,314,208) and £3,365,443 (2021 £3,835,230) of the above costs were attributable to unrestricted funds.

25 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

8.
Allocation of support costs
Governance (see note 9)
Staff costs
Telephone
Printing, postage and stationery
Computer costs
Hire of equipment
Repairs and maintenance
Legal and professional
Dissemination
Bank interest
Bank charges
Depreciation
Bad debts
Sundry
Insurance
Marketing
Irrecoverable VAT
Loss/(profit) on foreign exchange
9.
Governance costs
Audit fees
10.
Net income/(expenditure) resources for the year
This is stated after charging/(crediting):
Audit fees
Depreciation of fixed assets
Operating lease rentals
Land and buildings		 2023
£
17,050
245,341
9,646
7,219
62,973
6,475
89,467
23,245
2,000
31,658
2,750
46,145
14,149
33,598
3,274
71,425
14,219
2,871
683,505
2023
£
17,050
Total
2023
£
17,050
46,145
2,000		 2022
£
16,220
252,086
5,008
2,145
83,991
6,722
84,314
44,872
-
35,704
1,878
58,102
27,894
23,331
12,003
32,817
-
(1,222)
685,865
2022
£
16,220
Total
2022
£
16,220
58,102
2,000

11. Auditor emuneration

The auditor remuneration for the group amounts to an audit fee of £16,927 (2022 £16,143) and non-audit fees of £123 (2022 £77).

12. Trustee 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. Travel expenses totalling £150 (2022 £400) were reimbursed to 5 (2022 6) trustees.

The total amount of employee benefits received by key management personnel is £591,853 (2022 £550,681). The trustees consider the key management personnel to be the Chief Executive, the Deputy Chief Executive, Finance Manager, Operations Manager and Development Director.

26 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

13.
Staff costs
Group staff costs and employee benefits were as follows:
Wages and salaries
Social security costs
Defined contribution pension costs		 Total
2023
£
1,808,200
179,323
178,567

2,166,090		 Total
2022
£
1,835,619
187,948
138,999
2,162,566

The wages and salaries above included redundancy payments totalling £39,081 (2022: £Nil).

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

2023
Number
Client facing and advisory
24
Management
5
Administrative and support
22
51		 2023
FTE
21
5
21
47		 2022
Number
25
5
26
56		 2022
FTE
23
5
25
53

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

2023 2022
Number Number
£70,001 - £80,000 2 2
£100,001 - £110,000 2 2

A reclassification has been made to the 2022 figures to reflect the actual position.

14. Interest payable and similar expenses 2023 2022
£ £
Bank loans and overdrafts 31,658 35,704

27 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

15.
Tangible fixed assets
Office
Leasehold land
Equipment
Group and charity
& buildings
& fixtures
£
£
Cost or valuation
At 1st January 2023
5,208,042
140,049
Additions
-
9,886

At 31st December 2023
5,208,042
149,935
Depreciation
At 1st January 2023
311,341
90,876
Charge for the year
26,110
20,035

At 31st December 2023
337,451
110,911
Net book value
At 31st December 2023
4,870,591
39,024
At 31st December 2022
4,896,701
49,173		 Total
£
5,348,091
9,886
5,357,977
402,217
46,145
448,362
4,909,615
4,945,874

16. Investment in subsidiary undertaking

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

17.
Debtors
Trade debtors
Prepayments and accrued income
Amounts owed by subsidiary undertaking
18.
Creditors: Amounts falling due within one year
Futurebuilders loan
Bank loans and overdrafts
Trade creditors
Other tax and social security
Accruals and deferred income
Other creditors		 Group
2023
£
154,889
1,063,045
-
1,217,934
Group
2023
£
106,108
-
163,626
24,532
1,521,213
18,787
1,834,266		 Charity
2023
£
140,205
-
1,209,664

1,349,869
Charity
2023
£
106,108
-
6,546
24,532
36,791
11,143

185,120		 Group
2022
£
31,791
2,053,840
-
2,085,631
Group
2022
£
104,086
6,542
82,344
46,781
2,015,880
21,297
2,276,930		 Charity
2022
£
22,634
-
1,116,514
1,139,148
Charity
2022
£
104,086
6,542
29,267
4,009
28,700
10,693
183,297

28 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

19.
Creditors: Amounts falling due after more
than one year
Futurebuilders loan
Bank loan		 Group
2023
£
1,441,482
-
1,441,482		 Charity
2023
£
1,441,482
-
1,441,482		 Group
2022
£
1,545,168
546
1,545,714		 Charity
2022
£
1,545,168
546
1,545,714

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 capital repayments are £11,145 per month and interest is payable at a rate of 2% on the principal amount.

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.

20. Maturity of debt
Maturity of debt
Creditors include finance capital which is due for repayment as follows:
Amounts repayable:
In one year or less on demand
In more than one year but not more than two years
In more than two years but not more than five years
Due after five years		 2023
£
106,108
108,328
338,227
994,926
1,547,589		 2022
£
110,628
106,654
331,588
1,107,472
1,656,342

21. Operating lease commitments

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

2023
Land &
buildings
£
Not later than one year
2,000
Later than one and not later than five years
8,000
Later than five years
219,000

229,000
2022
Land &
Other
buildings
£
£
11,152
2,000
36,574
8,000
-
221,000

47,726
231,000		 Other
£
11,152
41,930
-
53,082

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.

29 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

22.
Deferred income
Under 1 year
Over 1 year
£
£
At 1 January 2023
209,623
-
Additions
20,000
Amounts released to income
(209,623)
-
At 31 December 2023
20,000
-
23.
Fund reconciliation
Unrestricted funds
Balance
01/01/23
Income
Expenditure
£
£
£
Group
2,360,450
5,632,159
(4,932,156)
Charity
2,203,664
1,472,999
(767,095)
Comparative information in respect of the preceding period is as follows:
Unrestricted funds
Balance
01/01/22
Income
Expenditure
£
£
£
Group
1,782,630
4,060,224
(3,482,404)
Charity
1,628,474
1,406,321
(831,131)
Restricted funds
Balance
01/01/23
Income
Expenditure
Group
£
£
£
Social Investment Fund: Future Builders Capital
Grant (54 St James Street)
365,376
-
(5,416)
Local Authority Business Growth Incentive (LABGI):
Capital Grant (54 St James Street)
468,380
-
(6,946)
European Regional Development Fund (54 St
James Street)
2,093,016
-
(31,047)
Liverpool Vision (54 St James Street)
20,436
-
(307)
Building Better Opportunities
-
703,821
(703,821)
Smallwood Trust
4,961
40,000
(32,653)
The Women
s Workplace Wellness Programme
-
287,138
(287,138)

2,952,169
1,030,959
(1,067,328)		 Total
£
209,623
20,000
(209,623)
20,000
Balance
31/12/23
£
3,060,453
2,909,568
Balance
31/12/22
£
2,360,450
2,203,664
Balance
31/12/23
£
359,960
461,434
2,061,969
20,129
-
12,308
-

2,915,800

30 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

23. Fund reconciliation (continued)

T

Restricted funds (continued)
Charity
Social Investment Fund: Future Builders
Capital Grant (54 St James Street)
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 St James Street)
European Regional Development Fund (54 St
James Street)
Liverpool Vision (54 St James Street)
Comparative information in respect of the preceding
Group
Social Investment Fund: Future Builders Capital
Grant (54 St James Street)
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 St James Street)
European Regional Development Fund (54 St
James Street)
Liverpool Vision (54 St James Street)
Building Better Opportunities
Smallwood Trust
Charity
Social Investment Fund: Future Builders
Capital Grant (54 St James Street)
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 St James Street)
European Regional Development Fund (54 St
James Street)
Liverpool Vision (54 St James Street)		 Balance
01/01/23
Income
Expenditure

£
£
£
365,376
-
(5,416)
468,380
-
(6,946)
2,093,016
-
(31,047)

20,436
-
(307)
2,947,208
-
(43,716)

period is as follows:
Balance
01/01/22
Income
Expenditure

£
£
£
370,792
-
(5,416)
475,326
-
(6,946)
2,124,063
-
(31,047)

20,743
(307)
-
1,364,800
(1,364,800)
7,977
43,300
(46,316)


2,998,901
1,408,100
(1,454,832)

Balance
01/01/22
Income
Expenditure

£
£
£
370,792
-
(5,416)
475,326
-
(6,946)
2,124,063
-
(31,047)

20,743
-
(307)


2,990,924
-
(43,716)
 Balance
31/12/23
£
359,960
461,434
2,061,969
20,129
2,903,492
Balance
31/12/22
£
365,376
468,380
2,093,016
20,436
-
4,961
2,952,169
Balance
31/12/22
£
365,376
468,380
2,093,016
20,436
2,947,208

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

31 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

23. Fund reconciliation (continued)

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.

ganisation is a Community Grant Partner for the Smallwood Trust Women s Resilience Fund, providing small financial grants to women on low 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.

programme. This will be a fully integrated social model of health support package. This package will include reso

to deliver meaningful change within SMEs and thus improve th through their lifecycle within their workplaces.

24.
Analysis of net assets between funds
Unrestricted
Funds
Fund balances at 31st December 2023 are represented by:
£
Group
Tangible fixed assets
2,006,123
Cash
3,112,144
Other current assets/(liabilities)
(616,332)
Creditors due after more than one year
(1,441,482)

3,060,453
Charity
Tangible fixed assets
2,006,123
Cash
1,180,178
Other current assets/(liabilities)
1,164,749
Creditors due after more than one year
(1,441,482)

2,909,568		 Restricted
Funds
£
2,903,492
12,308
-
-

2,915,800
2,903,492
-
-
-

2,903,492		 Total
£
4,909,615
3,124,452
(616,332)
(1,441,482)
5,976,253
4,909,615
1,180,178
1,164,749
(1,441,482)
5,813,060

32 | P a g e

Notes to the Financial Statements Year ended 31st December 2023

THE WOME ORGANISATION

24. Analysis of net assets between funds

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

Unrestricted
Funds
Fund balances at 31st December 2022 are represented by:
£
Group
Tangible fixed assets
1,998,666
Cash
2,098,797
Other current assets/(liabilities)
(191,299)
Creditors due after more than one year
(1,545,714)
2,360,450
Charity
Tangible fixed assets
1,998,666
Cash
794,861
Other current assets/(liabilities)
955,851
Creditors due after more than one year
(1,545,714)
2,203,664		 Restricted
Funds
£
2,947,208
4,961
-
-

2,952,169
2,947,208
-
-
-

2,947,208		 Total
£
4,945,874
2,103,758
(191,299)
(1,545,714)
5,312,619
4,945,874
794,861
955,851
(1,545,714)
5,150,872

25. 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.

26. Reconciliation of net income/(expenditure) to net cash Year to Year to
flow from operating activities 31st 31st
December December
2023 2022
£ £
Net income for the year 663,634 531,088
Interest receivable (32,752) (2,235)
Interest payable 31,658 35,704
Depreciation 46,145 58,102
(Increase) in debtors 867,697 1,490,543
Increase in creditors (438,144)
 (853,569)
Net cash flow from operating activities 1,138,238 1,259,633

33 | P a g e

THE WOME ORGANISATION

Notes to the Financial Statements Year ended 31st December 2023

27.
Analysis of changes in net debt
Balance at
1st January
2023
£
Long term borrowings
1,545,714
Short term borrowings
110,628
Total liabilities
1,656,342
Cash and cash equivalents
(2,103,758)
Total net debt
(447,416)		 Balance at
Non cash
31st December
Cashflows
Changes
2023
£
£
£
-
(104,232)
1,441,482
(108,752)
104,232
106,108
(108,752)
-
1,547,590
(1,020,694)
-
(3,124,452)
(1,129,446)
-
(1,576,862)

28. 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 £178,567 (2022 £138,999). Included in creditors at the year end is a pension liability of £7,832 (2022 £19,740).

The defined contribution liability is allocated to unrestricted funds.

29. Related party transactions

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

30. 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.

34 | P a g e

THE WOM ORGANISATION

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2023

Unrestricted
Funds
Income from:-
£
Donations and legacies
972,366
Other trading activities
489,223
Investments
11,410
Total income
1,472,999
Expenditure on:-
Other trading activities
131,062
Charitable activities
636,033

Total expenditure
767,095
Net income/(expenditure)
705,904
Reconciliation of funds:
Total funds brought forward
2,203,664
Total funds carried forward
2,909,568		 Restricted
Funds
£
-
-
-
-
-
43,716

43,716
(43,716)
2,947,208
2,903,492		 Total
2023
£
972,366
489,223
11,410
1,472,999
131,062
679,749
810,811

662,188
5,150,872
5,813,060		 Total
2022
£
874,269
531,471
581
1,406,321
116,961
757,886
874,847
531,474
4,619,398
5,150,872

All activities relate to continuing operations

THE WOM ORGANISATION

Schedule to the Statement of Financial Activities for the year ended 31st December 2023

Unrestricted
Restricted
Funds
Funds
Incoming resources
£
£
Donations
972,366
-
Incoming resources from other trading activities
Service and training contracts
422,780
-
Facilities hire
66,443
-
489,223
-
Investment income
Bank interest receivable
11,410
-		 Total
2023
£
972,366

422,780
66,443
489,223
11,410
 Total
2022
£
874,269
483,575
47,896

531,471
581

THE WOM ORGANISATION

Balance Sheet At 31st December 2022

Fixed assets
Tangible assets
Current assets
Debtors
Cash at bank and in hand
Creditors: Amounts falling due within
one year
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after
more than one year
Net assets
Funds
Unrestricted funds:
General
Restricted funds		 2023
£
£
4,909,615
1,349,869
1,180,178

2,530,047
185,120
2,344,927
7,254,542
(1,441,482)
5,813,060
2,909,568
2,903,492
5,813,060		 2022
£
£
4,945,874
1,139,148
794,861
1,934,009
183,297
1,750,712
6,696,586
(1,545,714)
5,150,872
2,203,664
2,947,208
5,150,872