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2024-12-31-accounts

THE WOMEN’S ORGANISATION

ANNUAL REPORT AND ACCOUNTS

for the year ended 31st December 2024

REGISTERED NUMBER: 6706841 CHARITY NUMBER: 1127631

THE WOMEN’S ORGANISATION

Annual Report and Accounts

for the year ended 31st December 2024

Contents Page
Reference and Administrative Details 1
Trustees’ Annual Report (including Directors’ Report and Strategic Report) 2
Independent Auditors’ Report 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 WOMEN’S ORGANISATION

Reference and Administrative Details 31st December 2024

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 M O’Carroll
Chief Executive M O’Carroll
Directors of The Women’s Organisation
(Trading) Limited P A Shea-Halson
A Fulton
L Howse
M T Navin-Mealey
S M Oshikanlu
G A Moglione
J Croft
J A Gillespie
L M Pearson
Registered office 54 St James Street
Liverpool
L1 0AB
Statutory Auditor Mitchell Charlesworth (Audit) Limited
Accountants
The Plaza
100 Old Hall Street
Liverpool
L3 9QJ
Banker National Westminster Bank plc
Liverpool City Business Centre
2-8 Church Street
Liverpool
Merseyside
L1 3BG

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Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

THE WOMEN’S ORGANISATION

The directors, who are trustees of the charity, present this annual report and the audited accounts for the year ended 31st December 2024.

Structure, Governance and Management

The charity was incorporated on 24th September 2008 as a successor to the registered not for profit company Train 2000 Ltd which had operated since 1996 delivering women’s economic development 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 are 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 monthly. There are human resource, strategy and finance subgroups 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 with the Chief Executive Officer based on 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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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

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 to 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 stakeholders, 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 Commission’s 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:

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THE WOMEN’S ORGANISATION

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

for the year ended 31st December 2024

Charity's aims and strategies for achieving objectives

The charity will achieve its charitable objectives through:

During 2024 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.

In 2024 the charity’s services continued to respond to issues arising from the cost-of-living crisis and continued to make considerable strides in achieving its charitable and wider social objectives. Having built upon the 28 years' experience of delivering quality services to women the charity continued to provide free employment and education advice support services for women who experience social and economic exclusion including one-to-one advice, mentoring and personal development activities.

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

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

Services to women in business have been provided through collaboration with partner organisations within the European Union. However, post European Structural Funds in the UK (December 2023), delivery of local enterprise services is funded through UKSPF. This fund is controlled by local authorities in Liverpool City Region. Enterprise support delivery has been restructured and is now delivered directly by those local authorities.

The organisations core offering of business courses was significantly reduced with the focus of delivery moving to supporting women by increasing confidence, money management and exploring self-employment as an option as well as other progression routes.

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 320 new clients accessing face to face support (1,788 in 2023, -82%) we have worked with in 2024 the profile was:

Virtual services focused on working with SMEs and individuals across England to provide a roadmap for change, encouraging businesses to invest in solutions that improve Women’s Workplace Wellness. By focusing on improving women’s workplace experiences, reducing absences, and preventing them from leaving the workforce, this platform aims to boost productivity, support economic growth, and reduce pressure on healthcare services. Investing in women’s health is not just the right thing to do—it is a smart business strategy for a healthier, more productive future. As a virtual service this has opened our activity across the country and beyond with participants from as far as the USA, Australia and China.

During 2024, 4498 individuals have accessed this content of these:

In 2024 The Women's Organisation continued to lead the Mind and Money consortium as the accountable body and managing partner delivering services to over 1500 people. This nine quarter, UKSPF funded Programme, was integral to the Local Enterprise Partnership and Combined Authority strategies, and ensured a comprehensive, quality service to clients suffering from debt and the ongoing cost of living crisis.

In 2024 The Women's Organisation led as accountable body in 3 consortium programmes:

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

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

In 2024 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. By the close of 2024 the use of the tenanted space is circa 58% women led businesses and the remainder social enterprises both that meet the charity’s objectives and target groups. Income generated via conferencing increased by 37% in 2024 (from 2023) and was the 3rd best year since opening.

In 2024 the CEO and Deputy CEO completed their work as representatives of the charity, and the sector at the National Growth Programme Board and three of its national subcommittees. The CEO also represented the sector on the local ESIF committee. These Boards provided strategic, high-level opportunity to influence use of the previous European Funds, to raise gender awareness and lens issues within the programmes.

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 legacy of effects from 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.

The Women Organisation continues to work with a range of stakeholders in conducting research and drafting evidence paper and reports to influence policy. Our activity in 2024 includes the following:-

1. Risks to Women's Economic Development in England

2. UK Shared Prosperity Fund (UKSPF) National Briefing Paper

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Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

THE WOMEN’S ORGANISATION

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

3. Developed Policy Influencing Capacity Building Resources

4. Liverpool City Region (LCR) Business Support Review

5. Lobbying and Briefing on Women’s Enterprise Support & UKSPF

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 with all bar Twitter/X increased on 2023 figures as follows:

Through 2024 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 Mexico.

Reserves Policy

A formal policy on reserves was agreed on the 29th of January 2009 meeting of the Board of Directors and has been 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.

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

Reserves Policy (continued)

It considers:

Amounts are to be set aside to meet financial risks associated with potential contingencies and uncertainties' relating to the charity's operating activities. These include:

The Board confirmed a staged policy to build unrestricted free reserves designated and allocated to meet the above risks and contingencies through three steps as follows:

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):

The main responsibilities of the sub-group are to:

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

Remuneration Policy (continued)

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 2024 The Women's Organisation has continued 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 2024 the trustees have maintained cash flow facilities to help facilitate partnership development and delivery going forward.

The accounts show net incoming resources of £447,732 (2023 £663,634).

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 2025; diversifying our income streams; building and retaining a sound customer base; and implementing actions to improve the cash flow position. Combined, these will not only underpin the core financial stability of the company but also contribute to its incremental growth ambitions.

The Women's Organisation is working strategically at a national level to influence successor investment, that will replace the UK Shared Prosperity Fund due to end March 2025. This influencing work includes consideration of the investment that will be available in the North of England, and the extent to which this is targeted to women's issues including economic development; people's civic and social inclusion; skills and advancement.

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THE WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

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 Women's Organisation (Trading) Ltd would make a gift aid payment of £933,252 (2023: £972,366) 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 2024 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 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 WOMEN’S ORGANISATION

Trustees’ Annual Report (including Directors’ Report and Strategic Report) for the year ended 31st December 2024

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.

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 30 April 2025 and signed on its behalf by:

Sf, Cen

S M Oshikanlu Trustee

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Mitchell Charlesworth (Audit) Limited

Accountants

Suites C,D,E,F, 14th Floor, The Plaza, Old Hall Street, Liverpool, Merseyside, L3 9QJ

THE WOMEN’S ORGANISATION

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

Year ended 31st December 2024

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 2024 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 the provisions available for small entities, in the circumstances set out in note 31 to the financial statements, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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

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

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

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Mitchell Charlesworth (Audit) Limited

Accountants

Suites C,D,E,F, 14th Floor, The Plaza, Old Hall Street, Liverpool, Merseyside, L3 9QJ

THE WOMEN’S ORGANISATION

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

Year ended 31st December 2024

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:

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Mitchell Charlesworth (Audit) Limited

Accountants

Suites C,D,E,F, 14th Floor, The Plaza, Old Hall Street, Liverpool, Merseyside, L3 9QJ

THE WOMEN’S ORGANISATION

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

Year ended 31st December 2024

Responsibilities of trustees

As explained more fully in the trustees’ 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 group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with these Acts.

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

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

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

Suites C,D,E,F, 14th Floor, The Plaza, Old Hall Street, Liverpool, Merseyside, L3 9QJ

THE WOMEN’S ORGANISATION

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

Year ended 31st December 2024

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.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s or the parent charitable company’s ability to operate or to avoid a material penalty. These included Safeguarding and Data Protection Regulations.

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Mitchell Charlesworth (Audit) Limited

Accountants

Suites C,D,E,F, 14th Floor, The Plaza, Old Hall Street, Liverpool, Merseyside, L3 9QJ

THE WOMEN’S ORGANISATION

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

Year ended 31st December 2024

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 Council’s website at https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

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

Mh Chabon (Gadi) Lula.

Mr Philip Griffiths (Senior Statutory Auditor) for and on behalf of Mitchell Charlesworth (Audit) Limited 20 June 2025 Accountants Suites C,D,E,F, 14th Floor Statutory Auditor The Plaza Old Hall Street Liverpool Merseyside, L3 9QJ

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THE WOMEN’S ORGANISATION

Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2024

Unrestricted
Restricted
Notes
Funds
Funds
£
£
Income from:
Charitable activities
2
2,773,238
240,000
Other trading activities
3
560,969
-
Investments
4
60,236
-

Total income
3,394,443
240,000
Expenditure on:
Raising funds
6
83,519
-
Charitable activities
7
2,815,069
288,123

Total expenditure
2,898,588
288,123
Net income/(expenditure)
495,855
(48,123)
Reconciliation of funds:
Total funds brought forward
3,060,453
2,915,800
Total funds carried forward
3,556,308
2,867,677		 Total
2024
£
3,013,238
560,969
60,236
3,634,443
83,519
3,103,192

3,186,711

447,732

5,976,253
6,423,985		 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

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 WOMEN’S ORGANISATION

Consolidated Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2024

Comparative information 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

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

18 | P a g e

THE WOMEN’S ORGANISATION

Balance Sheets 31st December 2024

Notes 2024 2023
Group Charity Group Charity
£ £ £ £
Fixed assets
Intangible assets 15 11,600 11,600
11,600		 - -
Tangible assets 16 4,910,560 4,910,560
 4,909,615 4,909,615
4,922,160 4,922,160 4,909,615 4,909,615
Current assets
Debtors 18 125,542 1,194,845 1,217,934 1,349,869
Cash at bank and in hand 3,144,738 1,762,390
 3,124,452 1,180,178
3,270,280 2,957,235 4,342,386 2,530,047
Creditors
Amounts falling due within one year 19 363,645 211,342 1,834,266 185,120
Net current assets 2,906,635 2,745,893 2,508,120 2,344,927
Total assets less current liabilities 7,828,795 7,668,053
 7,417,735 7,254,542
Creditors
Amounts falling due after more than one
year 20 1,404,810 1,404,810
 1,441,482 1,441,482
Net assets 6,423,985 6,263,243
 5,976,253 5,813,060
Funds
Restricted funds 24 2,867,677 2,859,776 2,915,800 2,903,492
Unrestricted funds 24 3,556,308 3,403,467
 3,060,453 2,909,568
Total funds 25 6,423,985 6,263,243 5,976,253 5,813,060

The financial statements were approved by the Trustees and authorised for issue on 30 April 2025, and are signed on their behalf by:

i Chika

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’S ORGANISATION

Consolidated Statement of Cash Flows 31st December 2024

Notes
Cash flow from operating activities
27
Cash flow from investing activities
Payments to acquire tangible fixed assets

Interest received

Net cash flow from investing activities
Cash flow from financing activities
Repayment of long-term loans
Interest paid
Net cash flow from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at 1st January 2024
Cash and cash equivalents at 31st December 2024
Cash and cash equivalents consist of:
Cash at bank and in hand
Cash and cash equivalents at 31st December 2024		 2024
2023
£
£
£
£
79,833
1,138,238
(55,031)
(9,886)
60,236
32,752
5,205
22,866
(34,452)
(108,752)
(30,300)
(31,658)
(64,752)
(140,410)

20,286
1,020,694
3,124,452
2,103,758

3,144,738
3,124,452

3,144,738
3,124,452

3,144,738
3,124,452

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

20 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

1. Summary of significant accounting policies

a) General information and basis of preparation

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

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’ Annual Report.

21 | P a g e

Notes to the Financial Statements Year ended 31st December 2024

THE WOMEN’S 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:

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

e) Support costs allocation

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

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) Loans and borrowings

22 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

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

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

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 2024 2023
£ £ £ £
Training and service contracts 2,773,238 240,000 3,013,238 4,655,625

Income from charitable activities in 2023 was £4,655,625, of which £1,030,959 was attributable to restricted and £3,624,666 was attributable to unrestricted funds.

23 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

3.
Income from other trading activities
Unrestricted
£
Service and training contacts
504,195
Facilities hire
56,774
560,969		 Restricted
£
-
-

-		 Total
2024
£
504,195
56,774
560,969		 Total
2023
£
1,908,298
66,443
1,974,741

Income from other activities in 2023 was £1,974,741, all of which was attributable to unrestricted funds.

4. Income from investments Total Total
Unrestricted Restricted 2024 2023
£ £ £ £
Bank interest receivable 60,236 - 60,236 32,752

Income from investments in 2023 was £32,752, 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:-

£
Income 3,082,930
Operating expenses (2,184,162)
Operating surplus 898,768
Interest receivable 32,034
Surplus for the period before taxation 930,802
Taxation -
Surplus for the period after taxation 930,802
Distribution to parent charity (933,252)
Loss for the period (2,450)
Reserves represented by:-
Current assets 1,483,596
Creditors due within one year (1,322,858)
160,738

24 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

6.
Analysis of expenditure on raising funds
Facilities management
Client services
Total expenditure		 2024
Total
£
52,200
31,319
83,519		 2023
Total
£
74,253
42,589
116,842

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)
£
£
196,752
31,319
2,485,625
389,496

2,682,377
420,815

 2024
Total
£
228,071
2,875,121
3,103,192

£288,123 of the above cost were attributable to restricted funds (2023: £1,067,328) and £2,815,069 (2023: £4,815,314) 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)
£
£
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 cost were attributable to restricted funds and £4,815,314 of the above costs were attributable to unrestricted funds.

25 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

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
Land and buildings
Other operating lease rentals		 2024
£
19,775
97,308
13,567
4,332
56,238
6,475
88,666
3,903
2,000
30,300
2,799
42,086
-
10,181
16,832
19,809
6,544
-
420,815
2024
£
19,775
Total
2024
£
19,775
42,486
2,000
5,796		 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
5,796

11. Auditor’s remuneration

The auditor's remuneration for the group amounts to an audit fee £18,625 (2023: £16,927) and non-audit fees of £1,150 (2023: £123).

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. Travel expenses totalling £525 (2023: £150) were reimbursed to 2 (2023: 5) trustees.

The total amount of employee benefits received by key management personnel is £473,158 (£2023: £591,853).

26 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

13.
Staff costs
Group staff costs and employee benefits were as follows:
Wages and salaries
Social security costs
Defined contribution pension costs
 Total
2024
£
690,401
95,844
147,466
933,711		 Total
2023
£
1,808,200
179,323
178,567

2,166,090

The wages and salaries above included redundancy payments totalling £Nil (2023: £39,081).

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

2024
Number
Client facing and advisory
8
Management
5
Administrative and support
8
21		 2024
FTE
2023
Number
8
24
5
5
8
22
21
51		 2023
FTE
21
5
21
47

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

2024
Number
£70,001 - £80,000
2
£100,001 - £110,000
2
14.
Interest payable and similar expenses
2024
£
Bank loans and overdrafts
30,801
15.
Intangible fixed assets
Software
£
Cost or valuation
Additions
12,000
<br>**At 31st December 2024**<br>12,000<br>
Amortisation
Charge for the year
400
<br>**At 31st December 2024**<br>400<br>
Net book value
At 31 December 2024
11,600		 2023
Number
2
2
2023
£
31,658
Total
£
12,000
12,000
400
400
11,600

27 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

16.
Tangible fixed assets
Office
Leasehold land
Equipment
Group and charity
& buildings
& fixtures
£
£
Cost or valuation
At 1st January 2024
5,208,042
149,935
Additions
-
43,031
Disposals
-
(5,666)

At 31st December 2024
5,208,042
187,300
Depreciation
At 1st January 2024
337,451
110,911
Charge for the year
26,040
16,046
Elimination of disposals
-
(5,666)

At 31st December 2024
363,491
121,291
Net book value
At 31st December 2024
4,844,551
66,009


At 31st December 2023
4,870,591
39,024

 Total
£
5,357,977
43,031
(5,666)
5,395,342
448,362
42,086
(5,666)
484,782
4,910,560
4,909,615

17. 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.

18.
Debtors
Trade debtors
Prepayments and accrued income
Amounts owed by subsidiary undertaking
19.
Creditors: Amounts falling due within one year
Futurebuilders loan

Trade creditors
Other tax and social security
Accruals and deferred income

Other creditors		 Group
2024
£
24,295
101,247
-
125,542
Group
2024
£
108,328
62,689

30,235

142,282

20,111
363,645		 Charity
2024
£
24,295
-
1,170,550

1,194,845

Charity
2024
£
108,328
55,989
7,479
25,913
13,633

211,342		 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

28 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

20.
Creditors: Amounts falling due after more
than one year
Futurebuilders loan		 Group
2024
£
1,404,810
1,404,810		 Charity
2024
£
1,404,810

1,404,810		 Group
2023
£
1,441,482
1,441,482		 Charity
2023
£
1,441,482
1,441,482

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.

21. 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		 2024
£
108,328
110,515
345,053
949,242
1,513,138		 2023
£
106,108
108,328
338,227
994,926
1,547,589

22. Operating lease commitments

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

2024
Land &
buildings
£
Not later than one year
2,000
Later than one and not later than five years
8,000
Later than five years
217,000
227,000
2023
Land &
Other
buildings
£
£
11,152
2,000
25,422
8,000
-
219,000
36,574
229,000
 Other
£
11,152
36,574
-
47,726

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 WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

23.
Deferred income
Under 1 year
Over 1 year
£
£
At 1 January 2024
20,000
-
Additions
20,000
-
Amounts released to income
(20,000)
-

At 31 December 2024
20,000
-

24.
Fund reconciliation
Unrestricted funds
Balance
01/01/24
Income
Expenditure
£
£
£
Group
3,060,453
3,394,443
(2,898,588)

Charity
2,909,568
1,452,733
(958,834)

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

Restricted funds
Balance
01/01/24
Income
Expenditure
Group
£
£
£
Social Investment Fund: Future Builders Capital
Grant (54 St James Street)
359,960
-
(5,416)
Local Authority Business Growth Incentive (LABGI):
Capital Grant (54 St James Street)
461,434
-
(6,946)
European Regional Development Fund (54 St
James Street)
2,061,969
-
(31,047)
Liverpool Vision (54 St James Street)
20,129
-
(307)
Smallwood Trust
12,308
40,000
(44,407)
The Women’s Workplace Wellness Programme
-
200,000
(200,000)


2,915,800
240,000
(288,123)

 Total
£
20,000
20,000
(20,000)
20,000
Balance
31/12/24
£
3,556,308
3,403,467
Balance
31/12/23
£
3,060,453
2,909,568
Balance
31/12/24
£
354,544
454,488
2,030,922
19,822
7,901
-
2,867,677

30 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

24. Fund reconciliation (continued)

Restricted funds (continued)
Balance
01/01/24
Income
Expenditure

Charity
£
£
£
Social Investment Fund: Future Builders – Capital
Grant (54 St James Street)
359,960
-
(5,416)
Local Authority Business Growth Incentive
(LABGI): Capital Grant (54 St James Street)
461,434
-
(6,946)
European Regional Development Fund (54 St
James Street)
2,061,969
-
(31,047)
Liverpool Vision (54 St James Street)
20,129
-
(307)

2,903,492
-
(43,716)



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

Balance
01/01/23
Income
Expenditure

Charity
£
£
£
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)

2,947,208
-
(43,716)
 Balance
31/12/24
£
354,544
454,488
2,030,922
19,822
2,859,776

Balance
31/12/23
£
359,960
461,434
2,061,969
20,129
-
12,308
-
2,915,800
Balance
31/12/23
£
359,960
461,434
2,061,969
20,129
2,903,492


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 WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

24. 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.

The Women’s Organisation 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.

The Department of Health and Social Care fund the development and rollout of the Women’s Workplace Wellness programme. This is a fully integrated social model of health support package. This package includes resources and information around women’s health, including menopause and menstrual health. The programme delivered meaningful change within SMEs and thus improved the recognition of, and support for, women’s health through their lifecycle within their workplaces. This programme completed in March 2025.

25.

Analysis of net assets between funds
Unrestricted
Funds
Fund balances at 31st December 2024 are represented by:
£
Group
Intangible fixed assets
11,600
Tangible fixed assets
2,050,784
Cash
3,136,837
Other current assets/(liabilities)
(238,103)
Creditors due after more than one year
(1,404,810)

3,556,308

Charity
Intangible fixed assets
11,600
Tangible fixed assets
2,050,784
Cash
1,762,390
Other current assets/(liabilities)
983,503
Creditors due after more than one year
(1,404,810)

3,403,467
 Restricted
Funds
£
-
2,859,776

7,901
-
-
2,867,677
-
2,859,776

-
-
-
2,859,776		 Total
£
11,600
4,910,560
3,144,738
(238,103)
(1,404,810)
6,423,985
11,600
4,910,560
1,762,390
983,503
(1,404,810)
6,263,243

32 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

25. Analysis of net assets between funds

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

Group
Unrestricted
Restricted
Funds
Funds
Fund balances at 31st December 2023 are represented by:
£
£
Tangible fixed assets
2,006,123
2,903,492
Cash
3,112,144
12,308
Other current assets/(liabilities)
(616,332)
-
Creditors due after more than one year
(1,441,482)
-


3,060,453
2,915,800

Charity
Tangible fixed assets
2,006,123
2,903,492
Cash
1,180,178
-
Other current assets/(liabilities)
1,164,749
-
Creditors due after more than one year
(1,441,482)
-


2,909,568
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

26. 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.

27.

Reconciliation of net income/(expenditure) to net cash Year to Year to
flow from operating activities 31st 31st
December December
2024 2023
£ £
Net income for the year 447,732 663,634
Interest receivable (60,236) (32,752)
Interest payable 30,300 31,658
Depreciation 42,486 46,145
Decrease in debtors 1,092,392 867,697
Decrease in creditors (1,472,841) (438,144)
Net cash flow from operating activities 79,833 1,138,238

33 | P a g e

THE WOMEN’S ORGANISATION

Notes to the Financial Statements Year ended 31st December 2024

28.

Analysis of changes in net debt
Balance at
1st January
2024
£
Long term borrowings
(1,441,482)
Short term borrowings
(106,108)
Total liabilities
(1,547,590)
Cash and cash equivalents
3,124,452
Total net debt
1,576,862		 Balance at
Non cash
31st December
Cashflows
Changes
2024
£
£
£
(498)
37,170
(1,404,810)
34,950
(37,170)
(108,328)

34,452
-
(1,513,138)
20,286
-
3,144,738

54,738
-
1,631,600

29. Pensions and other post-retirement benefits

Defined contribution pension plans

The charity operates a defined contributions pension scheme for its employees. The amount recognised as an expense in the period was £147,466 (2023: £178,567). Included in creditors at the year-end is a pension liability of £17,629 (2023: £7,832).

The defined contribution liability is allocated to unrestricted funds.

30. Related party transactions

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

31. APB ethical standards

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities, assist with the preparation of the financial statements and to provide tax advice.

32. 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 WOMEN’S ORGANISATION

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31st December 2024

Unrestricted

Funds
Income from:-
£
Donations and legacies
933,252
Other trading activities
491,278
Investments
28,203

Total income
1,452,733
Expenditure on:-
Other trading activities
83,519
Charitable activities
875,315

Total expenditure
958,834
Net income/(expenditure)
493,899

Reconciliation of funds:
Total funds brought forward
2,909,568
Total funds carried forward
3,403,467
 Restricted
Funds
£
-
-
-

-
-
43,716

43,716
(43,716)

2,903,492
2,859,776
 Total
2024
£
933,252
491,278
28,203
1,452,733
83,519
919,031
1,002,550

450,183
5,813,060
6,263,243		 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

All activities relate to continuing operations

THE WOMEN’S ORGANISATION

Schedule to the Statement of Financial Activities for the year ended 31st December 2024

Unrestricted
Restricted
Funds
Funds
Incoming resources
£
£
Donations
933,252
-

Incoming resources from other trading activities
Service and training contracts
434,504
-
Facilities hire
56,774
-
491,278
-

Investment income
Bank interest receivable
28,203
-		 Total
2024
£
933,252
434,504
56,774
491,278
28,203		 Total
2023
£
972,366
422,780
66,443

489,223
11,410

THE WOMEN’S ORGANISATION

Balance Sheet At 31st December 2024

Fixed assets
Intangible assets
Tangible assets
Total fixed 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		 2024
£
£
11,600
4,910,560
4,922,160
1,194,845
1,762,390
2,957,235
(211,342)
2,745,893
7,668,053
(1,404,810)
6,263,243
3,403,467
2,859,776
6,263,243		 2023
£
£
-
4,909,615
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